E5-9 ,E5-10,P5-1A

structions Ins (a) Prepare the n Prepare the necessary closing entries. b) sented below is information for Furlow Company for the month of March 2015. Prepare Lost of goods sold $212,000 Rent expense Freight-out Insurance expense 7,000 Sales discounts 6,000 S 32,000 13,000 stateme 8,000 (LO5) Sales returns and allowances Sales revenue and wages expense Salaries Instructions 58,000 380,000 Prepare a multiple-step income statement (b) Compute the gross profit rate. .10 In its income statement for the year ended December 31, 2015, Lemere Company aported the following condensed data. Prepare sing Operating expenses 725,000 Interest revenue 1,289,000 $ 28,000 tatem 17,000 (LO 5) Cost of goods sold Loss on disposal of plant assets 70,000 Net sales Interest expense Instructions (a) Prepare a multiple-step income statement. (b) Prepare a single-step income statement. 2,200,000 Xl E5-11 An inexperienced accountant for Huang Company made the following errors in Prepax