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Question - Omega Company Limited Adjusted Partial Trial Balance December 31, 2020
Dr Cr
Share capital 20,000
Dividends 5,000
Revenue 512,900
Advertising expense 28,050
Insurance expense 9,600
Wages expense 378,500
Income tax expense 12,000
Utilities expense 12,600
Additional information
Retained earnings at January 1, 2020 were 28,200
The company issued $8,000 in share capital during the year.
Required - Prepare a statement of changes in equity for the year ended December 31, 2020?
Which type of audit report are you likely to issue? Assume during the audit of inventory a material uncorrected the misstatement was regarded
Five multipliers in your analysis, what value would you put on each share of common stock of the company in each of these five cases?
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The machine was expected to produce a total of 159,000 units of product, and to have a residual value of $8,500. During the first two years of use, the machine produced 55,000 units.
What amount of the foregoing items should be included in the determination of the entity's net income or loss for the 6-month ended June 30, 2020?
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