Creating a Income Expense Statement # FirstName LastName

FirstName LastName Writing Prompt (1 Paragraph): Discuss the causes of and problems resulting from teenage smoking. Begin prompt here. Be sure to indent. #

Assignment 1: Define the words Below: FirstName LastName Assignment 1: Define the words Below: Income: Wages: Salary: Commission: Interest Income: Expense: Variable Expense: Fixed Payment: #

FirstName LastName Assignment 2: For the following slides, fill in the highlighted blanks with the correct totals for each example. #

COMPANY PROFIT/LOSS STATEMENT FirstName LastName COMPANY PROFIT/LOSS STATEMENT For August 2014 Revenues: Sales to Customer $ 480,000.00 Expenses: Cost of Goods Sold $ 250,000.00 Salary Expense $ 60,000.00 Rent Expense $ 30,000.00 Dereciation Expense $ 80,000.00   Total: Operating Income Other Gains and Losses: Gain on Sale of Equipment $ 40,000.00 Net Income #

SCHOOL STORE PROFIT/LOSS STATEMENT For August 2014 Income from Sales $ 750.00 Cost of Goods Sold: Opening Merchandise Inventory $ 700.00 Plus Purchases $ 100.00 Total Merchandise Available for Sale $ 800.00 Less Closing Merchandise Inventory $ 400.00 Total Cost of Goods Sold   Gross Profit on Sales (Income from Sales minus Cost of Goods Sold) FirstName LastName #

STUDENT INCOME/EXPENSE STATEMENT FirstName LastName STUDENT INCOME/EXPENSE STATEMENT For August 2014 Revenue Take-home pay Chick-Fil-A $ 393.02 Birthday gifts $ 40.00 Lunch money $ 42.00 School supply money from Mom $ 100.00 School fees from Mom $ 200.00 Total:   Expenses Church or other charity $ 50.00 Savings Car payment Gasoline Car insurance Miranda Lambert concert School lunches FBLA dues $ 15.00 School supplies $ 35.00 School fees Net Income #

Open Response: Answer the following questions: FirstName LastName Open Response: Answer the following questions: 1. What types of expenses are placed on an Income Expense Statement? Type Answer Here. 2. What types of income should be reported on an Income Expense Statement? Type answer here. #

FirstName LastName Quick Write (1 Paragraph): How can an Income Expense Statement be beneficial in managing a personal or business financial program? Begin prompt here. Be sure to indent. #