Basic Concepts of Accounting: Income Statement (2nd Week Assignment)

By Alexander H.K.P Kelas F-131 1306356040

Problem 3-7 Transaction Analysis (Assets, Liabilities and Owner Equity Effects)

Catatan : Karena hanya 95 % dari penjualan yg terealisasi, maka 5 % sisanya menjadi Bad Debt Expense, sejumlah ($33,400-$20,500)*5%=$645 Maka account receivable menjadi = ($33,400-$20,500)-$645=$12,255

Detailed Income Statement

QED ELECTRONICS COMPANY Income Statement for the month of April, ----. Sales Expenses: Bad debts Parts Interest Wages Utilities Depreciation Selling Administrative $ 645 $33,400

$ 3,700 $ 880

$10,000 $ 800

$ 2,700 $ 1,900 $ 4,700 ______ 25,325

Profit before taxes

Provision for taxes Net income

8,075
2,800.00 $5,275

Case Lone Pine Caf (B) Transaction Analysis (Assets, Liabilities and Owner Equity Effects)

Sales revenues = $43,480 (penjualan secara tunai) + $870 (penjualan secara kredit kepada instruktur ski) = $44,350. Food and beverage expense = $2,800 (inventori awal) + $10,016 (pembelian secara tunai) + $1,583 (pembelian secara kredit) - $2,430 (inventori akhir) = $11,969.

INVENTORY Food and beverage beginning Food and beverage Purchase on Credit Food and beverage Purchase on Cash $ $ $ $ Balance $ 2,800 1,583 10,016 14,399 2,430 Food and beverage $ 11,969

Transaction Analysis (Assets, Liabilities and Owner Equity Effects)

Income Statement
LONE PINE CAFE (B) INCOME STATEMENT FOR NOVEMBER 2 , THROUGH MARCH 30 ,2010
Sales Expenses: Salaries to partners Part-time employee wages Food and beverage supplies Telephone and electricity Rent expense Depreciation Operating license expense Interest Miscellaneous expenses Total expenses (Loss) $ 44,350 $23,150 5,480 l1,969 3,270 7,500 2,445 595 540 255 55,204

$(10,854)

Question 2
Income statement ini menceritakan kerjasama antara Ny. Anotine dan rekan, bahwa dalam periode lima bulan pertama, bisnis mengalami kerugian sebesar $10,854 Dengan kondisi rugi tidak mungkin memenuhi pembayaran sejumlah $23,150 untuk para pemegang saham Jumlah yang masuk akal untuk diberikan para pemegang saham adalah $23,150-$10,854 = $12,296