Great Taste Restaurants Inc. has provided a list of select accounts as of March 3 1 ,
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Great Taste Restaurants Inc. has provided a list of select accounts as of March Year You are asked to prepare the company's income statement at the month ended March Year Accumulated Depreciation $ Accounts Payable$ Advertising Expense$Prepaid Advertising$ Coomon Stock$ Depreciation Expense$ Dividend Payable$ Dividends$ Income Tax Expense$ Income Tax Payable$ Interest Expense$ Interest Revenue$ Loss on Disposal of Assets$ Prepaid Rent$ Rent expense$ Retained Earnings$ Sales Revenue$ Utilities Expense$ Utilities Payable $ Wage Expense$ Wages Payable$a List the revenue accounts on the income statement using the account list above. Highest to lowest value. C List the operating expense on the income statement using the account list above. Listed highest to lowest. d Use the SUM function to show the Total Operating Expenses do NOT include blank cell locations in your SUM function. e Use a formula to calculate the Income from Operations. f List the Other Items accounts on the income statement using the account list above. g Use a formula to calculate the Income before income taxes. h List the accounts that fall below the income before income taxes line on the income statement using the accounts listed above. i Use a formula to calculate the Net Income.
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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