Following are the income statement for 2018 and the comparative statement of financial position for the year ended

[ad_1]

Following are the allowance declaration for 2018 and the relatively declaration of financial posture for the year ended

December 31 of that year for Benin Bakeries Inc.

Other information:

·      Capital effects that had consume $90,400 were sold for allowance of $34,200.

·      A hoard dividend esteemd at $50,000 was visible and nice in June 2018.

·      Equipment esteemd at $80,000 was habitual for preferred shares during the year.

·      Bonds delay a visage esteem of $400,000 were issued for $368,000 currency in January 2018.  No bonds were redeemed during the year.

·      The immediate investments were considered to be currency equivalents.

Required:

Prepare currency run declaration for Benin Bakeries Inc. for 2018 using the unrelated way.  Show curiosity-behalf and allowance taxes remunerated on the visage of the declaration.

Statement of Incomefor the year ended December 3], 2018 Revenues and gains: Sales 5 1,520,000Interest and dividends 61,000Gain on sale of investments 14,000 5 1,595,000 Expenses and losses: Consume of movables sold 5 700,000Selling costs 80,400Amortization cost 39,200Interest cost 16,600Loss on sale of equipment 4,200Income tax cost 226,400 1,066,800 Net allowance 5 528,200
Show more

[ad_2]
Source cohere