COMPARITIVE INCOME STATEMENT for years ended 31 December 2019 2020 Revenues and gains *Sales revenue $ 516,500 $ 278,500 $ 77,900 $ 101,500 $ 974,400 $ 1,705,200 903,875 487,375 136,325 177,625 "Interest revenue "Investment Income $ $ "Other revenue $ Total revenue and gains $ Expenses and losses *"Cost of goods sold **Selling and admin administrative $ ***Computer (operating) *"Depreciation *"Interest expense Total expenses and losses Income before taxes $ 475,000 $ 175,000 $ 42,700 $ 51,000 $ 30,400 $ 774,100 $ 712,500 262,500 64,050 76,500 45,600 1,161,150 544,050 163,215 380,835 $ $ $ $ 200,300 $ $ $ Income tax expense (30%) 60,090 $ 140,210 $ Net Income $

Describe the accounting for contributions.

Explain the basic features of Income and Expenditure Account and ofReceipt and Payment Account.

do all charts have to have live item that state Total Revenue?

Identify the items from the following list that are likely to serve as source documents. Item a. Sales receipt b. Liability accounts c. Balance sheet d. Ledger e. Bank statement f. General journal g. Income statement h. Telephone bill i. Credit card receipt Is this a source document?

Which type of debit account is balanced in the income statement columns of a worksheet?

List the steps we use to measure external transactions.