The following is a list of financial information of Global AITI LTD, a new online business in

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The following is a list of financial information of Global AITI LTD, a new online business in Singapore as 30 November 2022: -

Services revenue: $21,000

Total assets: $7,500

Other revenues: $6,000

Accumulated depreciation: $1,000

Depreciation expense: $700

Wages: $6,000

Income tax: $500

Online advertisement expense: $900

Capital withdrawal by owner: $3,000

Required:

a) Mention what elements from the list above that are not relevant in preparing a revenue statement.

b) Calculate the total revenue.

c) Total expenses.

d) Profit after tax.

Related Book For answer-question

Accounting Information Systems

ISBN: 978-1133935940

10th edition

Authors: Ulric J. Gelinas, Richard B. Dull

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Posted Date: May 23, 2023 08:36 AM

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The following is a list of financial information of Global AITI LTD, a new online business in

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