ACC5CRE – The statement of comprehensive income of Jonathon Ltd
The statement of comprehensive income of Jonathon Ltd for the year ended 30 June 2020 shows the profit before tax amounted to $240,000, including revenue and expense items. $ Entertainment costs (no-deductible) 7 200 Annual leave expense 12 000 Depreciation expense – Equipment 20 000 Depreciation expense – buildings (non-deductible) 3 200 Rent revenue 12 000 Bad debt expense 24 000 Long service leave expense 6 000 Assets and liabilities as disclosed in the Statement of Financial Position as 30 June 2020. 2020 2019 Assets Cash 32 000 34 000 Inventories 68 000 62 000 Accounts receivables 200 000 192 000 Allowance for doubtful debts (22, 000) 16 000 Office supplies…
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