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Presented below is information for Furlow Company for the month

Presented below is information for Furlow Company for the month

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Presented below is information for Furlow Company for the month of March 2014.

Instructions
(a) Prepare a multiple-step income statement.
(b) Compute the gross profitrate.

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Accounting Questions

Transcribed Image Text

Cost of goods sold Freight-out Insiirance expense $ 32,000 8,000 6,000 Sales returns and allowances 13,000 380,000 212,000 Rent expense 7,000 Sales discount:s Salaries and wages expense 58,000 Sales revenue

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Accounting Principles

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Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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