Using the TRUE VALUE Template in the Revenue and Expenses columns, complete the income statement...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Using the TRUE VALUE Template in the Revenue and Expenses columns, complete the income statement from the account balances from the table: Jumbled Trial Balance Account name Debit (000) Credit (000) Accumulated depreciation $ 3,000 Allowance for bad debt $ 5,000 Bad debt expense $ 4,000 Benefits expense $ 1,000 Cost of goods sold $ 55,000 Depreciation expense $ 7,000 Dividend revenue $ 2,000 Dividends declared $ 13,000 Insurance expense $ 9,000 Interest revenue $ 6,000 Payroll expense $ 31,000 Prepaid insurance expense $ 17,000 Rent expense $ 12,000 Royalty revenue $ 18,000 Sales revenue $ 185,000 Unearned sales revenue $ 11,000 Utility expense $ 24,000 2 Next, from Round One, using the TRUE VALUE Template, PLOT your results from Round One in the Governance/Economic, Social, and Environmental columns.
Measuring True Value* Analysis of United Bubbles True Value Earnings (000) Net earnings Governance Social Environmental TRUE earningsRevenue Expenses Economic Positive ? Total Total Q1 Q2 Revenue Expenses Net $$$ Positive Negative Positive Negative Positive Negative ? ? * The Analysis of True Impact Tool is inspired by the KPMG True Value Methodology, which is a framework developed by KPMG. Balance Sheet accounts (000) Does the consideration of the companys ESG factors, known as externalities, change your perception of the company? Q1: Would you invest in the company? Q2: Would you work for the company?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!