Revenue And Cost Sheet Case Study
Did land, plant and equipment increase or decrease significantly over the prior year? Yes there was a significant decrease in the area of land, plant and equipment. The Land value stayed the same, no buildings were purchased and the equipment decreased by $40,000 this is probably due to depreciation. 7. Did long term debt increase or decrease significantly over the prior year? There was no significant increase in long term debt, but it did show an increase of $4000.
Exhibit 10-5 1. What is the period reported on the statement of revenue and expense? The period stated on the report is shown as, December 31, 20x2- December 31, 20x1. 2. Is it one year or a shorter period? If it is a shorter period, why is this? The statement of revenue covers a period of time, not from a specific date to date or point in time. 3. Are there large discrepancies in balances between the prior year operations and the current year operation? Yes there are discrepancies, in total operating revenue there is a $150,000 difference. Also there is an $85,000 difference in total operating expense. 4. Did total operating revenue increase over the prior year? Yes, there was a $150,000 increase in operating