Can you please create me an income statement and balance sheet as the example below. Thank...

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Accounting

Can you please create me an income statement and balance sheetas the example below. Thank you

Think about a business, movie, story, etc. that interests youand put together an Income Statement and Balance sheet for thatentity. As an example I used The Three Bears from Goldilocks and ..Since we do not know what business the Bears were in, I'm goingwith Salmon Farming. If you remember the story, Goldilocks breaksinto the bears' home, eats porridge, breaks the chair and sleeps inthe beds.

The Three Bears, Inc.
Income Statement
Year Ended June 30, 2018

Revenues:

Salmon Sales

$ xx, xxx

Expenses:

Porridge expense

xxx

Depreciation Expense--Chairs

xxx

Depreciation Expense--Beds

xxx
Rating expense (too big, too small,just right)xxx

Net Income

$x,xxx

The Three Bears, Inc.
Balance Sheet
June 30, 2018

Assets

Porridge Supplies

xx, xxx

Equipment--Chairs

Equipment--Beds

Less: Accumulated Depreciation

xx,xxx

xx,xxx

(x,xxx)

Total Assets

$xx, xxx

Liabilities

Liability for broken furniture, lost porridge

xx, xxx

Mortgage payable on Cottage

xx, xxx

Equity

Bear Family Equity

xx, xxx

Total Liabilities & Equity

$xx, xxx

Posts should include at least one revenue, and 2 each ofexpenses, assets, and liabilities. Don’t worry about dates andamounts unless they are relevant to your entity.

Answer & Explanation Solved by verified expert
3.6 Ratings (333 Votes)

Save More Pvt Ltd (Business running Supermarket)

Income Statement for the Year Ended 31.12.2018

Amount (in $)
REVENUES
Sales Revenue XXXX
Less: Sales Returns XXXX
TOTAL REVENUES XXXX
Less: Cost of Goods Sold XXXX
GROSS PROFIT XXXX
EXPENSE
Advertising Expenses XXXX
Depreciation Expense XXXX
Insurance Expense XXXX
Interest Expense XXXX
Salaries & Wages Expense XXXX
Utilities Expenses XXXX
TOTAL EXPENSES XXXX
NET INCOME BEFORE TAXES XXXX
Less: Income Tax Expense XXXX
NET INCOME XXXX

Balance sheet as at 31.12.2018

Amount (in $)
ASSETS
Inventory XXXX
Debtors XXXX
Furniture XXXX
TOTAL ASSETS XXXX
LIABILITIES & EQUITY
Borrowings from Bank XXXX
Outstanding Expenses XXXX
EQUITY
Share Capital XXXX
TOTAL LIABILITIES & EQUITY XXXX

Hope this helped!! If Yes, Please rate my answer!!


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