BASIC INCOME STATEMENT.
1. COMPLETE A BASIC INCOME STATEMENT.
Create a small income statement with the information below.
Wages R23,000
Commissions Earned R51,000
interest income R2,500
Utilities R1,500
Equipment Rental R300
Fee Income R750
Insurances R3,000
Taxes R4,250
Depreciation R1,000
Dividends R2,500
Income Statement
| Category | Amount (R) |
|---|---|
| Revenues | |
| Wages | 23,000 |
| Commissions Earned | 51,000 |
| Interest Income | 2,500 |
| Fee Income | 750 |
| Dividends | 2,500 |
| Total Revenue | 79,750 |
| Expenses | |
| Utilities | 1,500 |
| Equipment Rental | 300 |
| Insurances | 3,000 |
| Taxes | 4,250 |
| Depreciation | 1,000 |
| Total Expenses | 10,050 |
| Net Income | 69,700 |