Using the given financial statement, calculate a. Operating ratio b. Insurance expense ratio INCOME STATEMENT Particulars Income
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- a. Operating ratio
- b. Insurance expense ratio
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INCOME STATEMENT Particulars Income Fee Revenue Expenses Cost of Sales: Wages and Salaries Electricity Expense Supplies Expense Gross Profit: Insurance Expense Interest Expense Council Rates Expense Operating Expenses: Depreciation Expense - Bowling Equipment 20,100 Depreciation Expense - Building 9,630 17,040 14,510 8,830 Operating Profit: Profit: BALANCE SHEET Particulars 248,320 Assets Current Assets: Cash at Bank Accounts Receivable Accrued Revenue 89,400 17,010 21,300 Amount 248,320 127,710 120,610 70,110 94,740 50,500 8,660 19,360 7,860 11,070 6.870 Supplies Prepaid Insurance Non Current Assets: Bowling Equipment 230,700 Accumulated Depreciation - Bowling Equipment -85,290 Building 400,990 Accumulated Depreciation - Building -54,780 Total Assets: Amount 53,820 491.710 545,530 INCOME STATEMENT Particulars Income Fee Revenue Expenses Cost of Sales: Wages and Salaries Electricity Expense Supplies Expense Gross Profit: Insurance Expense Interest Expense Council Rates Expense Operating Expenses: Depreciation Expense - Bowling Equipment 20,100 Depreciation Expense - Building 9,630 17,040 14,510 8,830 Operating Profit: Profit: BALANCE SHEET Particulars 248,320 Assets Current Assets: Cash at Bank Accounts Receivable Accrued Revenue 89,400 17,010 21,300 Amount 248,320 127,710 120,610 70,110 94,740 50,500 8,660 19,360 7,860 11,070 6.870 Supplies Prepaid Insurance Non Current Assets: Bowling Equipment 230,700 Accumulated Depreciation - Bowling Equipment -85,290 Building 400,990 Accumulated Depreciation - Building -54,780 Total Assets: Amount 53,820 491.710 545,530
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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