Bhu Stores reported sales revenue of P1,950,000 for the current year. Inventory at the beginning of the

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Bhu Stores reported sales revenue of P1,950,000 for the current year. Inventory at the beginning of the year was P195,000. Purchases during the year amounted to P1,140,000. At the end of the year inventory on hand was P142,500. Various operating expenses for the year are listed as follows: Supplies- P99,000; Salaries - P171,000; Communication - P30,000; Advertising - P69,000; Utilities - P19,500; Taxes and Insurance - P25,500; Depreciation - P18,000, Insurance - P45,000.

Prepare: Income statement for the company.

Posted Date: May 13, 2024 06:04 AM

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Bhu Stores reported sales revenue of P1,950,000 for the current year. Inventory at the beginning of the

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To prepare an income statement for Bhu Stores well follow the traditional format starting with sales ... View the full answer

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