
Concept Introduction:
• Financial statement includes income statement and positional statement of any enterprise which reflects the financial position of the business in an organised manner.
• Income statement includes the Trading and
• Positional statement is the
• A comparative statement is a document which compares the financial statement of a particular period with a prior period statement so as to analyze the performance of a company between two accounting periods
Requirement 1
The revenues earned by APPLE during the fiscal year ending on 26th Sep 2015
Requirement 2
The expenses incurred by APPLE during the fiscal year ending on 26th Sep 2015
Requirement 3
The balance of Income Summary of APPLE at the end of the fiscal year 2015
Requirement 4
The comparison of Income Summary of APPLE for the fiscal year 2015 and 2016

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Chapter 4 Solutions
Fundamental Accounting Principles
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