Page Love

10/27/2023 · Junior High School

Statement of Comprehensive Income for the year ended 31 August 2023 please put below as accounting statement Sales revenue: Sale of goods 1,548,000 Cost of sales: Opening inventory 68,800 Purchases 630,000 Less: Closing inventory 68,800 Cost of goods sold 630,000 Gross profit 918,000 Operating expenses: Municipal charges 26,800 Telephone and communication 23,400 Rental expenses 39,000 Credit losses 1,500 Consulting charges 495,000 Printing and stationery 22,800 Director fees 28,000 Salaries and wages 215,000 Interest on loan 12,000 Penalties and fines 1,500 Cleaning fees 6,400 Computer expenses 4,800 Depreciation on motor vehicles [(250,000 - 34,000) x 20%] 43,200 Depreciation on computer equipment [(198,000 - 85,000) x 25%] 28,250 Depreciation on office equipment [(159,000 - 27,000) x 10%] 13,200 Total operating expenses 951,950 Net loss before tax (33,950) Income tax expense (28%) 9,508 Net loss for the year (43,458) Statement of Comprehensive Income: Net loss for the year (43,458) Other comprehensive income: Donation of artwork 2,500 Total comprehensive loss for the year (40,958)