Interim financial statements: An interim financial statement consists of the income statement, balance sheet and cash flow statement till the end of the reporting period. In other words, it reports all expenses, revenues, losses, gains, assets, liabilities and the inflow and outflow of cash for the reporting period. For example, interim financial statement is reported on June, 30, then all the expenses, revenues, assets, liabilities and inflows, outflows of cash till the end of the reporting period must be disclosed. To indicate: The amount to be reported in the quarterly income statements of Company S for the quarter ended March, 31, June, 30, September, 30 and October, 31.

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Chapter 4, Problem 4.28E

To determine

Interim financial statements:

An interim financial statement consists of the income statement, balance sheet and cash flow statement till the end of the reporting period. In other words, it reports all expenses, revenues, losses, gains, assets, liabilities and the inflow and outflow of cash for the reporting period. For example, interim financial statement is reported on June, 30, then all the expenses, revenues, assets, liabilities and inflows, outflows of cash till the end of the reporting period must be disclosed.

To indicate: The amount to be reported in the quarterly income statements of Company S for the quarter ended March, 31, June, 30, September, 30 and October, 31.

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