Question

INSTRUCTIONS: Complete the statement in proper form. Revenue will be provided in an announcement at the end of Module 4 (based on actual number of services for your pricing levels). Additional information necessary to complete the income statement: General and Administrative Salaries paid = $1,200 Advertising = $100 Cleaning Products = $120 Depreciation = $83 Rent = $650 Loan = $420 Utilities and Insurance = $600 Quintinn's Furry Beasts Pet Co. Income Statement For the Month Ended January 31, xxxx Revenue: Grooming $- Day Care - Boarding - Total Revenue $- Cost of Goods Sold * - Gross Profit $- Expenses: G&A Salaries $- Advertising - Cleaning Products - Depreciation - Rent - Loan - Utilities and Insurance - Total Expenses $- Net Income / Loss $- * Cost of Goods Sold = Cost of Services (COS) There is no finished goods inventory to maintain. Quintinn's Furry Beasts Pet Co. Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work-in-Process Inventory $- Direct Materials: Materials - Beginning $- Add: Purchases for month of January 5,000 Materials Available for Use $5,000.00 Deduct: Ending Materials 3,000 Materials Used $2,000.00 Direct Labor 6,240 Factory Overhead 2,800 Total Manufacturing Overhead $11,040.00 Deduct: Ending Work-in-Process Inventory - Cost of Services $11,040 Grooming price $25 4 grooms per day Kennel price $25 12 dogs per day Daycare price $18 22 dogs per day

Answer 1

From the poorly edited qtn I could figure this out. Let me know if there is something wrong in this. Thanks

INCOME STATEMENT
Particulars	Amount
Revenue
Grooming	$        3,100.00
Day Care	$        9,300.00
Boarding	$     12,276.00
TOTAL REVENUE	$     24,676.00
Expenses
Cost of Service	$     11,040.00
Salaries paid	$        1,200.00
Advertising	$           100.00
Cleaning products	$           120.00
Depreciation	$              83.00
Rent	$           650.00
Loan	$           420.00
Utilitiies	$           600.00
Net Profit	$     10,463.00