Acn-405-Assignment - [DOCUMENT TITLE[Document subtitle[COMPANY NAME[Company address Table of Contents Introduction.2 Income Statement.3 Balance

Acn-405-Assignment - [DOCUMENT TITLE[Document...

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[DOCUMENT TITLE] [Document subtitle] [COMPANY NAME] [Company address]
Table of Contents Introduction: ............................................................................................................................... 2 Income Statement ....................................................................................................................... 3 Balance Sheet ............................................................................................................................. 4 Cash Flow Statement .................................................................................................................. 5 Job Costing ................................................................................................................................. 6 Simple Costing System .............................................................................................................. 7 Activity Based Costing (ABC) System ...................................................................................... 8
Introduction:
Income Statement For Year Ended December 31, 2019 Accounts Name TK TK Sales Revenue 5390000 (-) Cost of goods sold (3465000) Gross Profit= 1925000 Other Expenses: Salaries 1152000 Factory Rent 120000 Office supplies expense 70000 Other operating expenses 50000 Total expenses= (1392000) Net Income 533000
Balance Sheet For year ended December 31, 2019 Assets TK Liabilities & Owner’s Equity TK Cash 400000 Current liabilities 100000 Account Receivable 200000 Owner’s Equity 900000 Supplies 100000 Machines 250000 Furniture 50000 Total= 1000000 Total= 1000000
Cash Flow Statement For the year ended December 31, 2019 Accounts Name TK Tk Operating Activities: Net Income 533000 Investment Activities: Purchase Machine (250000) Financing Activities: 000 Increase in cash= 283000 Beginning cash balance= 400000 Ending cash balance= 683000
Job Costing As it’s a start-up business and my production are very low so I consider each product as a job.

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