Have you worked

before or even
managed a small
business?
 PREPARING A
STATEMENT OF
COMPREHENSIVE
INCOME OF A
SERVICE BUSINESS
 PREPARING A STATEMENT OF
COMPREHENSIVE INCOME

1. Draft the Appropriate Title

1. Draft the appropriate title

UY LAW OFFICE
Statement of Comprehensive Income
For the year ended December 31, 2015
PREPARING A STATEMENT OF
COMPREHENSIVE INCOME

2. Determine the Total Revenue

from the Trial Balance
2. Determine the total revenue from
the trial balance

Professional Fees 247,500

 PREPARING A STATEMENT OF
COMPREHENSIVE INCOME

3. Determine the Total Operating

Expenses
3. Determine the total operating expenses
Representation expense 25,000
Salaries Expense 15,000
Rent Expense 10,000
Permit & Licenses Expense 10,000
Utilities Expense 8,000
Depreciation Expense 1,000
Office Supplies expense 3,000
Interest Expense 500
TOTAL OPERATING EXPENSE 72,500
 PREPARING A STATEMENT OF
COMPREHENSIVE INCOME

4. Determine the effect of other

items
 UY LAW OFFICE
Statement of Comprehensive Income
For the year ended December 31, 2015

INCOME
Professional Fees 247,500

EXPENSES
Operating Expenses 72,500

PROFIT FOR THE YEAR 175,000

Other Comprehensive Income -
COMPREHENSIVE INCOME FOR THE YEAR 175,000
APPLICATION:
1. Go to your respective group
2. Prepare the Statement of
Comprehensive Income
3. Select one member to represent and
explain your work.
 ABC COMPANY
ADJUSTED TRIAL BALANCE
December 31, 2015
  Debit Credit
Professional Fees   870,000
Interest Income   60,000
Gains   20,000
Salaries Expense 45,000  
Rent Expenses 34,000  
Utilities Expenses 90,000  
Representation Expenses 45,500  
Office Supplies Expense 40,000  
Interest Expense 20,000  
Permit and Licenses 55,000  

Total 329,500 950,000

CRITERIA:
Correctness 5
Clarity 3
Presentation /Format 2
Total 10