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  • Income Statement 1 Year1

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    Gobe Jam
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    Original 1 Company reported a net loss of $70,300 for the year ended December 31st, 20 based on its trial balance. The company had net sales of $17,000 but expenses totaling $87,300, which included high salaries and wages of $40,000. It recorded a gain on the sale of assets of $17,000 but still reported an overall net loss.

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    Original 1 Company reported a net loss of $70,300 for the year ended December 31st, 20 based on its trial balance. The company had net sales of $17,000 but expenses totaling $87,300, which included high salaries and wages of $40,000. It recorded a gain on the sale of assets of $17,000 but still reported an overall net loss.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    5 views1 page

    Income Statement 1 Year1

    Uploaded by

    Gobe Jam
    Original 1 Company reported a net loss of $70,300 for the year ended December 31st, 20 based on its trial balance. The company had net sales of $17,000 but expenses totaling $87,300, which included high salaries and wages of $40,000. It recorded a gain on the sale of assets of $17,000 but still reported an overall net loss.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 1

    COME STATEMENT FOR THE YEAR FOR ORIGINAL 1 COMPANY TRIAL BALANCE AS OF DECEMBER 31st 20

    Financial Statements in Pula


    Revenue
    Sales 17000

    Net Sales 17000

    Expenses
    Rent 15000
    Clearing expenses 2000
    Heating and lighting 6000
    Water 500
    Electricity 4000
    Wi-Fi 1500
    Purchases 12700
    Salaries and wages 40000
    Insurance 600
    Advertising 5000
    Total expenses
    Total Expenses 87300

    Net Operating Income (87300)

    Other Income
    Gain (Loss) on Sale of Assets 17000
    Interest Income 0
    Total Other Income 17000

    Net Income (Loss) (70300)

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