None Question:Jessica has finished the accounts for the fiscal period. Income Statement: Revenue : $44000, Expenses: $17000, Profit (beforetax) $27000, tax(rate=30%) = $8100, profit(after tax) = $18900. Balance Sheet: Cash: $7000, other current assets = $21000,long term assets = $62000, current liabilities = $36000, long term liabilities = $15100, capital = $10000, retained earrings=$28900. However, one of the sales people have just found an invoice for goods that have now been delivered and invoice, butthat has not been included in the accounts. The customer had already given a deposit of $70, but they still need to pay $170. Theraw materials used for making these particular goods cost $60. Now find the new income statement and balance sheet

Income Statement Revenue $44,000 + $170 receivable = $44,170Expenses $17,000 + $60 Cost of Goods…

Answered: Question: Jessica has finished the…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 32BEB

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