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Fsharumi Worksheet Yr.5

MKH Vinegar Manufacturing Enterprise forecasted their income statement for the year ended December 31, 2017. They estimated revenues of $1,298,887.50 and costs of $888,712.50, resulting in gross profit of $410,175. Operating expenses were estimated to be $711,157, leaving earnings before tax of $177,555.50. After paying estimated income tax of $62,144.43, they forecasted net income of $115,411.08.

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Precylyn Garcia Buñao
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16 views3 pages

Fsharumi Worksheet Yr.5

MKH Vinegar Manufacturing Enterprise forecasted their income statement for the year ended December 31, 2017. They estimated revenues of $1,298,887.50 and costs of $888,712.50, resulting in gross profit of $410,175. Operating expenses were estimated to be $711,157, leaving earnings before tax of $177,555.50. After paying estimated income tax of $62,144.43, they forecasted net income of $115,411.08.

Uploaded by

Precylyn Garcia Buñao
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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MKH Vinegar Manufacturing Enterprise Forecasted Income Statement For the Year Ended December 31, 2017

Revenue Sales Less: Cost of Good Sold Inventory-Beg. Plus: Purchases Goods available for sale Less:Inventory-End Gross Profit Operating expenses Advertisement Gas and Lubricants Utilities Expense Supplies expense Repairs and Maintenance Salaries expense Employee's benefits Depreciation expense Bad debts expense Earnings before income tax Less: Income tax Net Income After Tax Less: 2,187,600.00 129,912.50 1,249,725.00 1,379,637.50 80,750.00

1,298,887.50 888,712.50

82,035.00 54,690.00 41,017.50 32,814.00 35,548.50 382,830.00 27,345.00 11,125.00 43,752.00

711,157.00 177,555.50 62,144.43 115,411.08

MKH Vinegar Manufacturing Enterprise Statement of Changes in Owner's Equity As of December 31, 2014

Hatori, Capital-Jan.1 Add: Net Income Additional Investment Total Less:Hatori, Withdrawals Hatori, Capital-Dec.31

296,450.12 115,411.08 115,411.08 411,861.20 411,861.20

MKH Vinegar Manufacturing Enterprise Statement of Financial Position For the Year Ended December 31, 2017

Current Assets Cash Accounts Recievable Allowance for uncollectible accounts Non-Current Assets Furniture and Fixtures Accumulated depreciation - F&F Tricycle Accumulated depreciation - tricycle Building Accumulated depreciation - BLDG. Land Inventory TOTAL ASSETS LIABILITIES AND OWNER'S EQUITY Liabilities Accounts Payable Accrued Income Tax Owner's Equity Hatori, Capital-Dec.31 TOTAL LIABILITIES AND OWNER'S EQUITY

321,206.37 218,760.00 (43,752.00) 175,008.00

30,000.00 (3,000.00) 25,000.00 (12,500.00) 50,000.00 (5,000.00)

27,000.00 12,500.00 45,000.00 80,750.00 661,464.37

187,458.75 62,144.43

249,603.18

411,861.20 661,464.37

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