Sales Revenue | 520,000 | |
Less: Operating Expenses | ||
Ingredients | 52,000 | |
Utilities | 26,000 | |
Rent | 93,600 | |
Wages Expense | 104,000 | |
Salary | 78,000 | |
Depreciation | 15,600 | |
Employee Benefit | 52,000 | |
Operating Income (EBIT) | 98,800 | |
Less; Interest | 26,000 | |
EBT | 72,800 | |
Less: Tax @28% | 20,384 | |
Net Income | 52,416 | |
10. Emily Lim owns and runs an ice cream parlor in San Diego. Last year, she...
1. a. The balance sheet shows a company's assets and liabilities, at one point in time assets and liabilities; over a period of time revenue and costs; at one point in time revenue and costs, over a period of time b. Which are examples of current assets? Check all that apply: Cash Accounts receivable Accrued expenses Inventory c. Which are examples of current liabilities? Check all that apply: Accounts payable Accrued wages Current portion of long-term debt Paid-in capital 2....