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Finance for the Arts
in Canada
Financial 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.
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XYZ Company Balance Sheet |
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As at June 30, 2004 |
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Assets: |
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Cash and Investments |
35,000 |
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Accounts Receivable |
17,700 |
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Prepaid Expenses |
1,100 |
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Total Assets |
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Liabilities: |
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Accounts Payable |
18,500 |
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Deferred Revenue |
26,500 |
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Total Liabilities |
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Equity: |
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Retained Earnings |
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Current Earnings |
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Total Equity |
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Total Liabilities and Equity |
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XYZ Company Income Statement |
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For the Year Ended June 30, 2004 |
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Revenues: |
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Box Office and Performance Fees |
38,200 |
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Miscellaneous Revenue |
800 |
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Fundraising |
10,200 |
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Government Grants |
105,200 |
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Total Revenues |
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Expenses: |
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Artistic, Production & Tech Fees |
48,900 |
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Administrative Fees |
25,200 |
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Artistic, Production & Tech Costs |
11,600 |
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Touring Expenses |
23,500 |
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Administrative Expenses |
24,400 |
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Publicity & Marketing |
20,000 |
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Total Expenses |
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Surplus or Deficit |
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When you're ready, look at the answer to the bonus
question.
Order the book now!
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