SH1663

Name: Kyla Capule Section:

Date: 03/11/2021 Score:

Income Statement Activity

Income Statement

Directions: Create an income statement using the given items below. Write your answer on the
space below.

Revenues and expenses for ABC Accounting Services, for the year ended December 31, 20XX (in
Millions)
Rent P700 Supplies P500
Salaries P3,000 Travel P500
Service revenue P6,000

ABC Accounting Services

Income Statement
For the Year Ended December 31
(In millions)

REVENUES:
Service Revenue P6,000
Total Revenues P6,000

EXPENSES:
Salaries P3,000
Rent P700
Supplies P500
Travel P500
Total Expenses P4,700

NET INCOME P1,300

PERFORMANCE INDICATORS POINTS

Correct income statement format and computations of the revenues and expenses 25
Incorrect income statement format, correct computations of revenues and expenses 20
Incorrect income statement format, incomplete solutions for revenues and expenses 10
Incorrect income statement format, no solution for revenues and expenses 5

02 Worksheet 1 *Property of STI

Page 1 of 1