The following selected information is for Okanagan Company for the year ended January 31, 2024: Instructions a.
Question:
The following selected information is for Okanagan Company for the year ended January 31, 2024:
Instructions
a. Prepare a multiple-step income statement.
b. Prepare closing entries.
Transcribed Image Text:
Delivery expense Freight in Insurance expense Interest expense Merchandise inventory, beginning Merchandise inventory, ending O. G. Pogo, capital O. G. Pogo, drawings Purchases $ 7,000 6,500 12,000 6,000 61,000 42,000 105,000 42,000 210,000 Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned revenue $ 12,000 16,000 20,000 61,000 2,500 325,000 14,000 20,000 4,500
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a b OKANAGAN COMPANY Income Statement Year Ended January 31 2024 Sales rev...View the full answer
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Related Book For
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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