PHAROHA COMPANY
Income Statement
For the Year Ended April , 30 , 2022
Particulars | Amount $ | Amount $ |
Sales Ravanue | 5,000 | |
Less Cost of Goods Sold | 1,040 | |
Gross Profit | 3,960 | 3,960 |
Less Expenses | ||
Saalries | 750 | |
Insurance | 210 | |
Interest Expense | 600 | |
Income Tax Expense | 190 | |
Depriciation | 415 | |
Toal Expenses | 2,165 | ( 2,165 ) |
Net Income Before Dividend | 1,795 | |
Less Dividend | ( 400 ) | |
Net Income | 1395 |
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PHAROMA COMPANY
Retained Earning Statement
For the Period April , 30 , 2022
Particulars | Amount $ |
Retained Earning Begining Balance | 1,500 |
Add Net Income Earned During the Period | 1,395 |
Less Loss During the Period | 0 |
Retained Earning Clsoing Balance | 2,895 |
PHAROMA COMPANY
Balance Sheet
as on April , 30, 2022
Assets | Amount $ | Amount $ |
Non Current Assets | ||
Land | 2,500 | |
Equipment Working Note 01 | 1,970 | |
Goodwill | 1,600 | |
Investment in Stock | 1,800 | |
Investment in Land | 13,645 | |
Total Non Current Assets A | 21,515 | 21,515 |
Current Assets | ||
Account Receivable | 880 | |
Cash | 1,250 | |
Inventory | 980 | |
Prepaid Insurance | 70 | |
Total Current Assets B | 3,180 | 3,180 |
Total Assets ( A + B ) | 24,695 | |
Liabilities and Stakeholder's Equity | ||
Stakeholder's Equity | ||
Common Stock | 17,200 | |
Retained Earning ( As per Above Retained Earning Statement ) | 2,895 | |
Stakeholder's Equity C | 20,095 | 20,095 |
Non Current Liabilities | ||
Morgage Payable | 3,300 | |
Non Current Liabilities D | 3,300 | 3,300 |
Current Liabilities | ||
Account Payable | 846 | |
Income Tax Payable | 125 | |
Note Payable | 64 | |
Salaries Payable | 265 | |
Current Laibilities E | 1,300 | 1,300 |
Total Liabilities and Stakeholder's Fund ( C +D + E ) | 24,695 |
Working Note 01 Equipment
Equipmet = Gross Equipment - Accumalted Depriciation on Eqipment
= 2,590 - 620
Equipment = 1,970
You are provided with the following information for Pharoah Company, effective as of its April 30,...
You are provided with the following information for Pharoah Company, effective as of its April 30, 2022, year-end. $ 846 880 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) 620 1,250 17,200 1,040 415 400 2,590 1,600 190 125 210 600 980 13,645 2,500 3,300 Nadalah Notes payable (short-term) Prepaid insurance Retained...
You are provided with the following information for Pharoah Company, effective as of its April 30, 2022 year-end. $ 846 880 Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) 620 1,250 17,200 1,040 415 400 2,590 1,600 190 125 210 600 980 13,645 2.500 3,300 64 70 Notes payable (short-term) Prepaid insurance...
You are provided with the following information for Pharoah Company, effective as of its April 30, 2022, year-end. Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) $ 846 880 620 1.250 17,200 1,040 415 400 2,590 1,600 190 125 210 600 980 13,645 2,500 3,300 64 70 1,500 Notes payable (short-term) Prepaid...
the photos are connected You are provided with the following information for Pharoah Company, effective as of its April 30, 2022, year-end. Accounts payable Accounts receivable Accumulated depreciation equipment $ 866 880 730 Cash 1,300 16,600 1,020 330 350 2,540 2,000 185 135 320 470 Common stock Cost of goods sold Depreciation expense Dividends Equipment Goodwill Income tax expense Income taxes payable Insurance expense Interest expense Inventory Investment in land Land Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained...
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