Question: Q6. Create a Statement of Financial Position and a Statement of Comprehensive Income for XYZ Software Co. Ltd. (June 30, 20XX) Trade Receivables $300 Current
Q6. Create a Statement of Financial Position and a Statement of Comprehensive Income for XYZ Software Co. Ltd.
(June 30, 20XX)
Trade Receivables $300
Current Portion of Long-term debt $500
Profit $3,300
Goodwill $520
Retained Earnings $595
Total Assets $21,195
Cost of Sales $2,000
Total Equity $14,595
Revenue on Software $10,000
Property, Plant and Equipment $11,200
Gross Profit $8,000
Cash $600
Administrative Expenses $500
Deferred Tax Liabilities $600
Total Current Assets $9,000
Trade Payables $300
Finance Costs $500
Income Tax Expense $2,200
Intangibles $475
Share Capital $14,000
Distribution Costs $1,500
Sho rt-ter m Borrowing $100
Total Current Liabilities $1,000
Long-term Debt $5,000
Inventories $8,100
Income Taxes Payable $100
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts