. average revenue 2. largest expense 3. lowest revenue 4.  number of expense components 5. number of revenue components

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter3: Accrual Accounting
Section: Chapter Questions
Problem 10MCQ: Reinhardt Company reported revenues of $122,000 and expenses of $83,000 on its 2019 income...
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HIC GROUP OF Companies

COMPARATIVE INCOME STATEMENT

For years  ended 3rd December                                                                                                                       2019                             2020      

Revenue and gains

Sales revenue                          495,500                       496,738.75

Interest revenue                     278,500                       279,196.25

Investment Income                71,700                         71,879.25

Other revenue                       101,500                       101,753.75

Total revenue and gains        947,200                        949,968

Expenses and losses                                                           

Cost of good sold                 450,000                       447,750

Selling&administrative      185,000                           184,075

Computer (operating)        42,500                             42,288

Depreciation                       50,000                             49,750

Interest expense                  28,400                            28,258

Total expense and losses     755,900                          752,121.

1. average revenue

2. largest expense

3. lowest revenue

4.  number of expense components

5. number of revenue components

 

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