Question

Question #1: Completion of Annual statement 13 (points for correct categorization of Revenue, Expenses and calculations) Complete an Annual statement of Revenue and Expenses with the following information: Office Supplies $1500.00 Rent $12,300.00 Payroll $153,984,00 Insurance $3,800.00 Donations $13,500.00 Internet $13,000.00 Phones $900.00 Bank charges S673.00 Audit $12,000.00 Government funding $180,000.00 Book sales S550.00 Sponsorships $3,000.00 Travel $1.483.00 Membership fees $550.00 Professional development S3500.00 Workshop fees $9,500.00 Fundraising S16,450.00 Photocopier lease $1800.00 Postage $445.00 Computers/technology $5,380.00 Promotions $462.00 Board/Committee Expenses $135.00 Miscellaneous Income $50.00 Resources $678.00 Contractors $8900.00 Revenue Total Income Expenses

Answer 1

$9600 $1&udbo 412500 Revenues Workshop bees Government funding Donations Membership fees Book sales Miscellaneous Income 4550 450, $16450 fund raising 4 1800 $222900 Photocopier lease Total Revenue Expenses office supplies Rent Payroll Inserance Loteraet phones $ 1500 $12300 #153989 $3800 $ 13000 $900 $673 $12000 Bank charges $3000 -Audit sponsorships Travel propersonal Development $1463 $3500 Postage $445 $5380 computer promotions Board expenses Resources contractors $135 $678 48900 $4.62 Promotions $222140 Total expenses =

. # 183 Percentage of wages to total expenses, $ 153964 69.32. 4222140 (3) #4 money you spend cost of operations IT related to related to your income Yow overall total world #3 Things you owe. The obligations & debts you, one . Things you duen Property or money you already have Money you receive. (4) Managerial Accounting Vs Floancial Accounting: Managerial accounting is the internal processing wed to account for business transactions Financial accounting is the collection oj accounting data to create financial statement. #2 5/5 =

(5) Importance of Hnancial statements . Financial statements help marogement to understand the poritten, progress and prospects of business. By providing management with the causes og business results enable them to formulate appropriate policies and etceries action for future. Management communicates only through these tnancial statements their performance to various parties es justify their activities &s thereby their existance. A comparative analysis of tinancial statement reveals the trend is progress and position of enterprise, and enawies the management to it make suitaule changes in policies. Workers are entitled to bonus, depending upon of profit as disclosed by acidited profit and less acetunt. Thus profit and loss becomes greatly important to noorkers. In pages negotiations also the size of the profits and profitatility achieved are greatly significant. size 6/6 =