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The document is an income statement for Original 1 Company Trial for the year ending December 31st 2020. It shows the company had net sales of $17,000 but total expenses of $87,300, resulting in a net operating loss of $87,300. The company recorded a gain on sale of assets of $17,000 but still had a net loss for the year of $70,300.

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31 views2 pages

Document Titl1

The document is an income statement for Original 1 Company Trial for the year ending December 31st 2020. It shows the company had net sales of $17,000 but total expenses of $87,300, resulting in a net operating loss of $87,300. The company recorded a gain on sale of assets of $17,000 but still had a net loss for the year of $70,300.

Uploaded by

Gobe Jam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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[DOCUMENT TITLE]

[Document subtitle]
INCOME STATEMENT FOR THE YEAR FOR ORIGINAL 1 COMPANY TRIAL
BALANCE AS OF DECEMBER 31st 2020

Financial Statements in Pula


Revenue
Sales 17000
 
Net Sales 17000

Expenses
Rent 15000
Clearing expenses 2000
Heating and lighting 6000
Water 500
Electricity 4000
Wi-Fi 1500
Purchases 12700
Salaries and wages 40000
Insurance 600
Advertising 5000
Total expenses  
Total Expenses 87300

Net Operating Income (87300)

Other Income
Gain (Loss) on Sale of Assets 17000
Interest Income 0
Total Other Income 17000

Net Income (Loss) (70300)

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