Part A-

a. What is the interest expense for 2013
b. How much equipment was purchased during the year?
c. What was the depreciation expense for 2013?
d. Were any share issues? If any, calculate the value.
e. How much in dividend was paid during the year 2012
f. How much cash was received from customers during the year?
g. How much was paid in tax?

Part B

Scenario 1
a) Prepare the income statement of Deagan Lawn Service for the four months
b) Prepare the classified balance sheet of Deagan Lawn Service at 31 August
c) Was Deagan's summer work successful? Give the reason for your answer

Scenario 2

Whether the Report Address the following?

a) Will you use the cash basis or the accrual basis of accounting? Give a complete description of your reasoning.
b) How often do you want financial statements? Why? Discuss how you will use each financial statement
c) What kind of revenue will you earn? When will you record it as revenue? How will you decide when to record the revenue?


Scenario 3
On behalf of Brent and Den write a loan request include the followings:

The request should specify all the details of Brent's and Den's plan that will motivate the bank to grant the loan. Include a budgeted income statement for the first six months of the copy centre's operation.