From the information below and using the template provided, complete the Profit and Loss Statement for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
From the information below and using the template provided, complete the Profit and Loss Statement for 2018 and 2019. Year Income Passenger Tickets Onboard and other revenues Total Revenue Expenses Commission, transport and other related expenses Onboard and other related expenses Fuel expenses Crew payroll and related expenses Food expenses Other operating expenses Selling, general and administrative expenses Depreciation and amortisation Total Operating Expenses Operating Profit Interest income Interest expenses Foreign exchange (loss)/gain on non-operating items Other financial items Total non-operating expenses Profit before tax Income taxes Net Profit 2019 $ 20,614,320 $ 6,896,860 -$ 2018 -$ 4,100,700 -$ 4,215,810 -$ 1,870,980 -$ 1,870,980 -$ 1,961,630 -$ 1,601,210 -$ 3,519,690 -$ 1,233,370 -$ 2,917,620 -$ 961,630 -$2,389,550 -$ 2,915,030 -$ 3,207,170 -$ 3,091,380 -$ 2,528,710 -$ 1,937,280 $ 16,961,530 $ 5,687,040 $ 34,250 25,960 -$ 1,269,490 -$ 1,063,890 -S -$ 29,190 166,910 $ 110,800 6,210 $ 54,840 $ 173,040 From the information below and using the template provided, complete the Profit and Loss Statement for 2018 and 2019. Year Income Passenger Tickets Onboard and other revenues Total Revenue Expenses Commission, transport and other related expenses Onboard and other related expenses Fuel expenses Crew payroll and related expenses Food expenses Other operating expenses Selling, general and administrative expenses Depreciation and amortisation Total Operating Expenses Operating Profit Interest income Interest expenses Foreign exchange (loss)/gain on non-operating items Other financial items Total non-operating expenses Profit before tax Income taxes Net Profit 2019 $ 20,614,320 $ 6,896,860 -$ 2018 -$ 4,100,700 -$ 4,215,810 -$ 1,870,980 -$ 1,870,980 -$ 1,961,630 -$ 1,601,210 -$ 3,519,690 -$ 1,233,370 -$ 2,917,620 -$ 961,630 -$2,389,550 -$ 2,915,030 -$ 3,207,170 -$ 3,091,380 -$ 2,528,710 -$ 1,937,280 $ 16,961,530 $ 5,687,040 $ 34,250 25,960 -$ 1,269,490 -$ 1,063,890 -S -$ 29,190 166,910 $ 110,800 6,210 $ 54,840 $ 173,040
Expert Answer:
Answer rating: 100% (QA)
Profit and Loss Statement for 2018 and 2019 Year 2019 2018 Total Revenue add all inc... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The Sales Discounts account is a contra account to which of the following accounts? Cost of Goods Sold Sales Returns and Allowances Purchases Discounts Sales Revenue
-
(a) What role does the EITF play in establishing accounting standards? (b) Why can it meet this role more efficiently than the FASB?
-
Connor purchased an annuity that was to pay him a fixed amount each month for the remainder of his life. He began receiving payments in 2005, when he was 65 years old. In 2022, Connor was killed in...
-
Defendant Monty J. Person began working for Garage Solutions, LLC, in March 2015. Three months into his employment, Person was sent by the owner of Garage Solutions, Mark Fontenot, to Rexburg, Idaho,...
-
The following transactions were completed by Navarez Inc., whose fiscal year is the calendar year: 2014 July 1. Issued $88,000,000 of 10-year, 10% callable bonds dated July 1, 2014, at a market...
-
Your client, Gabe, needs to calculate the business part of his real estate taxes. How can Gabe calculate the business part of his real estate taxes? Unset starred question Add the real estate taxes...
-
Butler, Inc., operates at capacity and makes wooden playground equipment. Although Butlers swing sets and play forts are a matching set, they are sold individually and so the sales mix is not 1:1....
-
Builders Inc. is considering a project with an initial cost of $185,000 and expecting $45,000 in year 1; $50,000 in year 2; $75,000 in year 3; $40,000 in year 4; $0 in year 5 in cash flows. Assume...
-
1. What advice on documentation requirements would you give a Brazilian footwear company who wants to export its products to Saudi Arabia?
-
(a) (b) Given the following two securities MSC and APP. You consider buying these two securities to form a portfolio: Return Return Probability (RMSC) (RAPP) 0.3 -5% 15% 0.4 8% 10% 0.3 12% -8% (i)...
-
working together, daniel and donnie an clean the llama pen in 45 minutes. Daniel can clean the pen in an hour. How long does it take Donnie to clean the llama pen on his own?
-
Set up a linear system and solve. The sum of two positive integers is 47 . When the smaller integer is subtracted from twice the larger, the result is 28 . Find the two integers.
-
Read the following case. Answer the two questions: Q1: How can improving quality lead to reducing costs? At least five ways to reduce costs. Q2: What would be your advice? At least five pieces of...
-
9. Probability and Statistics - hats and glasses Suppose you sell hats for $10 each and sunglasses for $5 each. You know the expected number of hats sold in a day is 10 with standard deviation 1; you...
-
Accounting policies and practices that are most important to the portrayal of the companys financial condition and results, and require managements most difficult, subjective, or complex judgments...
-
In 2012, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade...
-
Deborah purchases a new $30,000 car in 2012 to use exclusively in her business. If Deborah does not elect to expense or take bonus depreciation in 2012 and holds the car until it is fully...
-
Carl and Jenny adopt a Russian orphan. The adoption takes 2 years and two trips to Russia and is final in 2012. They pay $6,000 in 2011 and $7,500 in 2012 of qualified adoption expenses, and have AGI...
-
Go to https://www.youtube.com/watch?v=Fp9m4GNwGng to view a brief video on the Brazilian Jet manufacturer Embraer and their use of Critical Chain Project Management for maintenance services. How has...
-
It is sometimes argued that state revenue generated by lotteries is different from tax revenue because people choose to buy lottery tickets. Compare three state revenue sources cigarette excise...
-
Suppose that the demand for personalized license plates and the marginal cost of production in a state is as shown in Figure 16.1. If all the profits go to the government and the state wants to...
Accounting Theory A Conceptual And Institutional Approach 1st Edition - ISBN: 0538821582 - Free Book
Study smarter with the SolutionInn App