AB 299 STUDY Education Terms/ab299study.com AB 299 STUDY Education Terms/ab299study.com | Page 9

in the area, so he would certainly expect a major increase in his
business volume.
This assignment is not looking for dollar figures, but primarily your
justification on why the line items will change and what direction they
will change, if any. You may make assumptions based on the increased
sales volume and how it will affect income and expenses, if and when
you do make these assumptions, please describe them and their effects
on each line item.
You can go on the Internet and search for videos covering financial
statements.
These are the line items:
Income earned:
Expenses include:
Salaries
Rent
Depreciation
Supplies
Lease (on your refrigerator) Tax
Interest (on loans currently held) Insurance
Checklist:
·
·If and when you made assumptions, based on the increased
sales volume and how it will affect income and expenses, please
describe them and their effects on each line item.