4. With their year-end of April 30, 2021, fast approaching, Yorkton Supply Company wants to examine...

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4. With their year-end of April 30, 2021, fast approaching, Yorkton Supply Company wants to examine their financial performance. From the trial balance information below, prepare a classified multistep income statement (the company uses a perpetual inventory system). (7 marks) Accounts Payable Accounts Receivable Accumulated Depreciation, Building-Office Accumulated Depreciation, Equipment-Store Advertising Expense Building - Office Cash Cost of Goods Sold Depreciation Expense, Building-Office Depreciation Expense, Equipment-Store Equipment Store Insurance-Office Expense Interest Expense Interest Receivable Interest Revenue Merchandise inventory Notes Receivable Prepaid Insurance Prepaid Rent Rent revenue Rent-Store Expense Sales Sales Discounts Sales Returns & Allowances Sharmila Sajjad, Capital Sharmila Sajjad, Withdrawals Supplies-store Expense Unearned Revenue Utilities-Office Expense Wages Payable Wages-Marketing Expense Wages-Office Expense Wages-Store Expense $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Debit $ $ $ $ 15,600 $ 151,400 $ 8,100 $ 1,210,900 $ 6,100 $ 3,000 $ Credit 60,500 $ 3,600 $ 8,600 $ $ $ 151,400 $ 5,000 $ 1,400 $ 7,300 $ $ 44,400 $ $ 1,200 $ 7,100 $ $ 92,800 $ 5,000 $ $ 11,300 $ $ 100,900 $ 159,400 $ 207,900 $ 2,500 18,200 10,100 25,200 15,100 1,977,800 207,600 6,400 2,262,900 $ 2,262,900 4. With their year-end of April 30, 2021, fast approaching, Yorkton Supply Company wants to examine their financial performance. From the trial balance information below, prepare a classified multistep income statement (the company uses a perpetual inventory system). (7 marks) Accounts Payable Accounts Receivable Accumulated Depreciation, Building-Office Accumulated Depreciation, Equipment-Store Advertising Expense Building - Office Cash Cost of Goods Sold Depreciation Expense, Building-Office Depreciation Expense, Equipment-Store Equipment Store Insurance-Office Expense Interest Expense Interest Receivable Interest Revenue Merchandise inventory Notes Receivable Prepaid Insurance Prepaid Rent Rent revenue Rent-Store Expense Sales Sales Discounts Sales Returns & Allowances Sharmila Sajjad, Capital Sharmila Sajjad, Withdrawals Supplies-store Expense Unearned Revenue Utilities-Office Expense Wages Payable Wages-Marketing Expense Wages-Office Expense Wages-Store Expense $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Debit $ $ $ $ 15,600 $ 151,400 $ 8,100 $ 1,210,900 $ 6,100 $ 3,000 $ Credit 60,500 $ 3,600 $ 8,600 $ $ $ 151,400 $ 5,000 $ 1,400 $ 7,300 $ $ 44,400 $ $ 1,200 $ 7,100 $ $ 92,800 $ 5,000 $ $ 11,300 $ $ 100,900 $ 159,400 $ 207,900 $ 2,500 18,200 10,100 25,200 15,100 1,977,800 207,600 6,400 2,262,900 $ 2,262,900

Answer rating: 100% (QA)

Yorkton Supply Company Income Statement For the Year Ended April 30 2021 Net Sales Sales Less Sales ... View the full answer