Finance Whiz Quiz - Bonus Question
If you understand the structure of financial statements, calculating the missing numbers in XYZ Company’s Balance Sheet and Income Statement will be a snap. You may find it useful to print this web page before working on the question.
Complete the missing fields in the xyz company's balance sheet and income statement:
| XYZ Company Balance Sheet | ||
|---|---|---|
| As at June 30, 20XX | ||
| ASSETS: | ||
| Cash and Investments | 35,000 | |
| Accounts Receivable | 17,700 | |
| Prepaid Investments | 1,100 | |
| TOTAL ASSETS | ||
| LIABILITIES: | ||
| Accounts Payable | 18,500 | |
| Deferred Revenue | 26,500 | |
| TOTAL LIABILITIES | ||
| EQUITY: | ||
| Retained Earnings | ||
| Current Earnings | ||
| TOTAL EQUITY | ||
| TOTAL LIABILITIES AND EQUITY | ||
| XYZ Company Income Statement | ||
|---|---|---|
| For the Year Ended June 30, 20XX | ||
| REVENUES: | ||
| Box Office and Performance Fees | 38,200 | |
| Miscellaneous Revenue | 800 | |
| Fundraising | 10,200 | |
| Government Grants | 105,200 | |
| TOTAL REVENUES | ||
| EXPENSES: | ||
| Artistic, Production and Tech Fees | 48,900 | |
| Administrative Fees | 25,200 | |
| Artistic, Production and Tech Costs | 11,600 | |
| Touring Expenses | 23,500 | |
| Administrative Expenses | 24,400 | |
| Publicity and Marketing | 20,000 | |
| TOTAL EXPENSES | ||
| SURPLUS OR DEFICIT | ||
When you are ready, look at the answer to the bonus question.
