4 5 6 8 9 10 11 12 13 14 15 16 18 19 20 21...

 

Transcribed Image Text:

4 5 6 8 9 10 11 12 13 14 15 16 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Instructions: Prepare a multiple step income statement for Medlink Company for the year ended December 31, 2020, using the following accounts. Interest Expense Loss on sale of building Beginning Inventory Depreciation Expense Ending Inventory Freight out Freight In Gain on sale of equipment Income taxes Insurance Expense Interest Revenue Property Tax Expense Purchase Discounts Purchases Purchases Return and Allowances Rent Expense Salaries and Wages Expense Sales Sales Commission Expense Sales Discounts Sales Return and Allowances Utilities Expense $18,900.00 $13,000.00 $458,000.00 $45,000.00 368,000.00 29,500.00 19,000.00 19,300.00 24% 85,600.00 28,000.00 15,900.00 15,000.00 698,000.00 45,000.00 24,000.00 150,000.00 17,500,000.00 12,500.00 54,000.00 965,000.00 85,600.00 Melding Company 4 5 6 8 9 10 11 12 13 14 15 16 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Instructions: Prepare a multiple step income statement for Medlink Company for the year ended December 31, 2020, using the following accounts. Interest Expense Loss on sale of building Beginning Inventory Depreciation Expense Ending Inventory Freight out Freight In Gain on sale of equipment Income taxes Insurance Expense Interest Revenue Property Tax Expense Purchase Discounts Purchases Purchases Return and Allowances Rent Expense Salaries and Wages Expense Sales Sales Commission Expense Sales Discounts Sales Return and Allowances Utilities Expense $18,900.00 $13,000.00 $458,000.00 $45,000.00 368,000.00 29,500.00 19,000.00 19,300.00 24% 85,600.00 28,000.00 15,900.00 15,000.00 698,000.00 45,000.00 24,000.00 150,000.00 17,500,000.00 12,500.00 54,000.00 965,000.00 85,600.00 Melding Company

Answer rating: 100% (QA)

Sales SUMIBIENAni Cost Of Goods Sold Add Less sales Discount sales return allowanc... View the full answer