Competency Work.xlsx - Other revenues and gains $21,800...

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Other revenues and gains $21,800 Other expenses and losses 3,200 Sales discounts 3,200 Sales revenue 747,000 Sales returns and allowances 9,000 Cost of goods sold 283,000 Operating expenses 210,000
Splish Brothres Corp Income Statement for the year ended December 31, 2022 Subtract: Particulars/Description Amount ($) Amount ($) Sales Calculation Sales Revenue 747,000 Sales Returns 9,000 Sales discounts 3,200 (12,200) Net Sales 734,800 Cost of Goods sold (283,000) Gross Profit 451,800 Operating Expenses (210,000) Operational Income 241,800 Other gains and revenue 21,800 Other Expenses and losses (3,200) 18,600 Income before Income Taxes 260,400 Income tax expense (25% x 260,400) (65,100) Net Income 195,300
The following information relates to Cheyenne Corp. for the year 2022. Retained earnings, January 1, 2022 $52,800 Dividends during 2022 5,500 Service revenue 68,750 Salaries and wages expense 30,800 Income Statement Service Revenue 68,750 Expenses: Salaries and wages expense -30,800 Advertising expense -1,980 Rent expense -11,440 Utilities expense -3,410 Net Income $21,120 Other comprehensive income 440 Comprehensive Income $21,560 Net Income = $21,120 Comprehensive Income = $21,560
Advertising expense $1,980 Rent expense 11,440 Utilities expense 3,410 Other comprehensive income (net of tax) 440 58,750 26,320 $1,690 9,780 2,910 $18,050 380 $18,430
Retained earnings, January 1, 2022 $45,120 Dividends during 2022 4,700 Service revenue 58,750 Salaries and wages expense 26,320
Advertising expense $1,690 Rent expense 9,780 Utilities expense 2,910 Other comprehensive income (net of tax) 380

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