Question

At the end of Dayton Department Store’s fiscal year on November 30, 2014, these accounts appeared in its adjusted trial balance.
Freight-In ................ $ 7,500
Inventory ................ 40,000
Purchases ................ 585,000
Purchase Discounts ........... 6,300
Purchase Returns and Allowances ..... 2,700
Sales Revenue ............. 1,000,000
Sales Returns and Allowances ........ 20,000
Additional facts:
1. Merchandise inventory on November 30, 2014, is $52,600.
2. Dayton Department Store uses a periodic system.

Instructions
Prepare an income statement through gross profit for the year ended November 30, 2014.



$1.99
Sales0
Views73
Comments0
  • CreatedJanuary 30, 2014
  • Files Included
Post your question
5000