Moodle X Question 44 Not yet answered Cash Accounts receivable (net) Inventory, December 31, 2016 Equipment...

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Moodle X Question 44 Not yet answered Cash Accounts receivable (net) Inventory, December 31, 2016 Equipment and fixtures (net) Accounts payable Common stock Retained earnings Revenue - department a Revenue - department b А Cost of goods sold - department a Cost of goods sold - department b Sales salaries expense X Departmental Income Statement The following information was obtained from the ledger of Stillwell Emporium, Inc., at the end of 2016 Stillwell Emporium, Inc. Trial Balance December 31, 2016 Marked out of 30,00 Sales salaries expense Advertising expense Advertising expense Insurance expense (on merchandise) Uncollectible accounts expense Occupancy expense Office and other administrative expense Debit $21,000 70,000 45,000 97,000 Credit $34,000 120,000 30,000 379,000 151,000 216,000 70,000 83,000 40,000 10,000 3,000 16,000 43,000 $714,000 $714,000 Stillwell analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payroll records, advertising copy, and other records, the following tabulation was obtained: Traceable Expense 18.000 Dept. A Dept. B $51,000 $23,000 Flag questioTT 9000 Common Expense $9,000 12.000 Stillwell analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payroll records, advertising copy, and other records, the following tabulation was obtained: Sales salaries expense Advertising expense Insurance expense Occupancy expense Uncollectible Sales Cost of goods sold Gross profit Operating expenses: Ints expense 2,000 1,000 Office and other administrative expense 20,000 12,000 11,000 Sales salaries expense Traceable Expense Common Dept. A Dept. B Expense $51,000 $23,000 $9,000 18,000 13,000 8,000 Prepare a departmental income statement for Stillwell Emporium, Inc., showing departmental contribution to common expenses, assuming an overall income tax rate of 30%. Do not use negative signs with your answers below. Stillwell Emporium, Inc. Departmental Income Statement For the Year Ended December 31, 2016 Dept. A Advertising expense Insurance expense Uncollectible accounts expense 9,000 2,000 Office and other administrative expense Traceable operating expenses Contribu on to common expenses Common expenses Income before tax Income tax expense Net income 16,000 $ Dept. B $ $ Total G Moodle X Question 44 Not yet answered Cash Accounts receivable (net) Inventory, December 31, 2016 Equipment and fixtures (net) Accounts payable Common stock Retained earnings Revenue - department a Revenue - department b А Cost of goods sold - department a Cost of goods sold - department b Sales salaries expense X Departmental Income Statement The following information was obtained from the ledger of Stillwell Emporium, Inc., at the end of 2016 Stillwell Emporium, Inc. Trial Balance December 31, 2016 Marked out of 30,00 Sales salaries expense Advertising expense Advertising expense Insurance expense (on merchandise) Uncollectible accounts expense Occupancy expense Office and other administrative expense Debit $21,000 70,000 45,000 97,000 Credit $34,000 120,000 30,000 379,000 151,000 216,000 70,000 83,000 40,000 10,000 3,000 16,000 43,000 $714,000 $714,000 Stillwell analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payroll records, advertising copy, and other records, the following tabulation was obtained: Traceable Expense 18.000 Dept. A Dept. B $51,000 $23,000 Flag questioTT 9000 Common Expense $9,000 12.000 Stillwell analyzes its operating expenses at the end of each period in order to prepare an income statement that will exhibit departmental contribution to common expenses. From payroll records, advertising copy, and other records, the following tabulation was obtained: Sales salaries expense Advertising expense Insurance expense Occupancy expense Uncollectible Sales Cost of goods sold Gross profit Operating expenses: Ints expense 2,000 1,000 Office and other administrative expense 20,000 12,000 11,000 Sales salaries expense Traceable Expense Common Dept. A Dept. B Expense $51,000 $23,000 $9,000 18,000 13,000 8,000 Prepare a departmental income statement for Stillwell Emporium, Inc., showing departmental contribution to common expenses, assuming an overall income tax rate of 30%. Do not use negative signs with your answers below. Stillwell Emporium, Inc. Departmental Income Statement For the Year Ended December 31, 2016 Dept. A Advertising expense Insurance expense Uncollectible accounts expense 9,000 2,000 Office and other administrative expense Traceable operating expenses Contribu on to common expenses Common expenses Income before tax Income tax expense Net income 16,000 $ Dept. B $ $ Total G

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CALCULATIONS Sales Department A 379000 Department B 151000 Total Sales 530000 Cost of Goods Sold COG... View the full answer