WE WRITE CUSTOM ACADEMIC PAPERS

100% Original, Plagiarism Free, Tailored to your instructions

Order Now!

Financial Accounting

EH&S Consulting
Income statement for the year ended 31st October 2013

($)    Dr.
($)  Cr.

Consultancy revenue

40,132.48
Note 6

Cost of services
4,690.48

Note 3

Gross profit

35,442

Photocopying income

17.01
Note 4

Expenses
Cost ($)
 
 

Rent expense
1,500

Security deposit
1,500

Rent deposit
1,500

Office supplies
1,070.71

Telephone and internet expense (Sept & Oct)
250

Insurance expense
1,050

Reimbursable expense
1,077.48

Note 1

Advertising
1,500

Utilities
143

Bookkeeping services
500

Stamps and mailings
78.32

Professional fees
495

Office expenses
789.47

License
250

Photocopying
567

Note 2

Bank charges
50

Bad debt expenses
9,124.15

Note 5

Total expenses
21,445.13

Net income
26,334.86

Assumptions
The company records its financial statements on an accrual basis. This is because the firm neither receives cash for all incomes earned nor does it pay expenses in cash form. The accrual basis records incomes once they are earned even when the company does not receive cash (Lambert, 2011). Expenses are also recognized once they are incurred even when the costs are not settled immediately. The organization, therefore, records transactions by following the rules of Generally Accepted Accounting Principles. The expenses that are not explained using notes are those that are recorded in the income statement directly. Costs explained using notes are those that are adjusted before being recorded on the account.
 Note 1
Reimbursable costs are expenses to the company; therefore, the amounts for September and October are added to get the total.
Note 2
The company paid for the photocopying charges, although the costs should be paid by debtors; therefore, the amount incurred by the firm is recorded as an expense.
…………………………………………………….
For more on this paper, click here
To get a custom written paper in this or any other topic, click here
Expert consultations to help you with studies

We have competent advisors in majority of main subjects
We are available around the clock and all over the world
We promise to meet your expectations or your money back
Place your order now

 

Our Service Charter

  1. Excellent Quality / 100% Plagiarism-Free

    We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
  2. Free Revisions

    We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
  3. Confidentiality / 100% No Disclosure

    We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
  4. Money Back Guarantee

    If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
  5. 24/7 Customer Support

    We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.

Excellent Quality
Zero Plagiarism
Expert Writers

Instant Quote

Subject:
Type:
Pages/Words:
Single spaced
approx 275 words per page
Urgency (Less urgent, less costly):
Level:
Currency:
Total Cost: NaN

Get 10% Off on your 1st order!