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  • Quiz TM 06

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    Jenny 1107
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    This financial statement shows income and expenses for the year. It reports $13,000 in income from Sun Corp with $8,000 in cost of goods sold, leaving a gross profit of $5,000. Other expenses were $3,400, resulting in net income of $1,600. It also shows the company owns shares in Sun Corp and Psi Corp, with a total retained earnings of $2,652. After deducting $1,000 in dividends, net income for the year was $2,464.

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    This financial statement shows income and expenses for the year. It reports $13,000 in income from Sun Corp with $8,000 in cost of goods sold, leaving a gross profit of $5,000. Other expenses were $3,400, resulting in net income of $1,600. It also shows the company owns shares in Sun Corp and Psi Corp, with a total retained earnings of $2,652. After deducting $1,000 in dividends, net income for the year was $2,464.

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    © All Rights Reserved
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    4 views2 pages

    Quiz TM 06

    Uploaded by

    Jenny 1107
    This financial statement shows income and expenses for the year. It reports $13,000 in income from Sun Corp with $8,000 in cost of goods sold, leaving a gross profit of $5,000. Other expenses were $3,400, resulting in net income of $1,600. It also shows the company owns shares in Sun Corp and Psi Corp, with a total retained earnings of $2,652. After deducting $1,000 in dividends, net income for the year was $2,464.

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    © All Rights Reserved
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    of 2

    No

    Date

    Que Psi
    Eliminej
    Mncone Satemenk
    Saes 13:000 6-500 2A Poo
    lncone fom Sun Corp A 84
    2A
    COGS (8-oco) 2900 25 320
    other Fxfenses (3400) ). G00
    NCI
    Ngt 1ncae ONlna dhares 2.44 1-000 1-920 S20 9.464
    Stateleak ¢ raained eaming PAM Corf Sun Cop.
    3.692 (- S00 S 2-652
    Ad : NO 1coMe 2.464 (- c00 2-464
    Deduct: 0i dends (o00

    LE 2.036 3420

    bra Eliminas:
    Sale

    Cost of sales

    NCI InteNAt (2
    120

    Ehmmate Inc. And dii dod rom Suo cncl lonng Nvet

    Ordead Jecared
    N Ao

    3OYRO 36 Lines, 6mm


    No
    Date

    Uminote recprocal nNert Suds equiby balonte

    3-doo
    4, SO
    Unam22d eYCus
    InvetmeA ia surn corp
    NCI

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