only tell me how to prepare income statement easy way. Inventory on 31 March 20X6 was valued at $32 600.REQUIRED(a)(b)Prepare the Income Statement for the year ended 31 March 20X6.Prepare the Balance Sheet as at 31 March 20X6.5.2Allan Harper is a trader. The following balances were extracted from his books on 31 December 20X6 at the end ofhis first year of trading.Cr($)Dr($)59 700Purchases100 800Sales9 8002 300Salaries and wagesTelephone and stationery expenseVehicle running costsGeneral expensesRent and insurance2 6003 8004 600Machines and equipmentFixtures and fittings35 00020 00015 000Motor vehiclesCápital 1 January 20X6Drawings83 40022 400Cash at bank2 500Cash in hand1 600Trade receivables14 6009 700193 900Trade payables193 900Additional InformationInventory at 31 December 20X6 was valued at $22 600.REQUIRED(a)(b)Prepare the Income Statement for the year ended 31 December 20X6.Prepare the Balance Sheet as at 31 December 20X6.

Income Statement: Income Statement reports the financial performance in terms of profit or loss for…

Inventory on 31 March 20X6 was valued at $32 600. REQUIRED (a) (b) Prepare the Income Statement for the year ended 31 March 20X6. Prepare the Balance Sheet as at 31 March 20X6. 5.2 Allan Harper is a trader. The following balances were extracted from his books on 31 December 20X6 at the end ot his first year of trading. Cr($) Dr($) 59 700 Purchases 100 800 Sales 9 800 2 300 2 600 Salaries and wages Telephone and stationery expense Vehicle running costs General expenses 3 800 Rent and insurance 4 600 Machines and equipment Fixtures and fittings 35 000 20 000 Motor vehicles 15 000 83 400 Cápital 1 January 20X6 Drawings 22 400 Cash at bank 2 500 Cash in hand 1 600 Trade receivables 14 600 9 700 193 900 Trade payables 193 900 Additional Information Inventory at 31 December 20X6 was valued at $22 600. REQUIRED (a) (b) Prepare the Income Statement for the year ended 31 December 20X6. Prepare the Balance Sheet as at 31 December 20X6.

Inventory on 31 March 20X6 was valued at $32 600. REQUIRED (a) (b) Prepare the Income Statement for the year ended 31 March 20X6. Prepare the Balance Sheet as at 31 March 20X6. 5.2 Allan Harper is a trader. The following balances were extracted from his books on 31 December 20X6 at the end ot his first year of trading. Cr($) Dr($) 59 700 Purchases 100 800 Sales 9 800 2 300 2 600 Salaries and wages Telephone and stationery expense Vehicle running costs General expenses 3 800 Rent and insurance 4 600 Machines and equipment Fixtures and fittings 35 000 20 000 Motor vehicles 15 000 83 400 Cápital 1 January 20X6 Drawings 22 400 Cash at bank 2 500 Cash in hand 1 600 Trade receivables 14 600 9 700 193 900 Trade payables 193 900 Additional Information Inventory at 31 December 20X6 was valued at $22 600. REQUIRED (a) (b) Prepare the Income Statement for the year ended 31 December 20X6. Prepare the Balance Sheet as at 31 December 20X6.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2E: Cost of Goods Sold and Income Statement Schuch Company presents you with the following account...

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