Craigs Crocodiles, Inc. Income Statement For The Year Ended 31st Jan. 2009
Name: Instructor: Course: Date: Craig’s Crocodiles, Inc. Income Statement For The Year Ended 31st Jan. 2009 2009 Operating Activities $ Revenue (Sales)300,000 Credit Sales 160,000 Net Sales 460,000 Purchase (300,000) Gross Income 160,000 Expenses Warehouse hire24,000 Office space12,000 Bad debts60,000 Shipping cost25,000(121,000) NIBT 39,000 Workings Bad Debts and Collection Expenses = 0.2 x 300,000 = […]
