Income statements calculations and format Merchandise inventory Other assets Liaibilities Reena Excel, capital Reena Excel, withdrawals...
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Income statements calculations and format Merchandise inventory Other assets Liaibilities Reena Excel, capital Reena Excel, withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expenses Rent expenses, selling space Store supplies expenses Advertising expenses Office salaries expenses Rent expenses, office space Office suppliesexpenses Totals Debit 21 000,00 385 200,00 48 000,00 9 750,00 42 000,00 296 000,00 87 000,00 30 000,00 7 500,00 54 000,00 79 500,00 17 800,00 Credit 105 000,00 339 150,00 636 000,00 2400,00 1080 150,00 1080 150,00 a) Calculate net sales b) Prepare a classified multi step income statement that lists company net sales, cost of goods sold, gross profit as well as the components and amounts of selling expenses and general and administrative expenses. Income statements calculations and format Merchandise inventory Other assets Liaibilities Reena Excel, capital Reena Excel, withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expenses Rent expenses, selling space Store supplies expenses Advertising expenses Office salaries expenses Rent expenses, office space Office suppliesexpenses Totals Debit 21 000,00 385 200,00 48 000,00 9 750,00 42 000,00 296 000,00 87 000,00 30 000,00 7 500,00 54 000,00 79 500,00 17 800,00 Credit 105 000,00 339 150,00 636 000,00 2400,00 1080 150,00 1080 150,00 a) Calculate net sales b) Prepare a classified multi step income statement that lists company net sales, cost of goods sold, gross profit as well as the components and amounts of selling expenses and general and administrative expenses.
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Based on the image provided I will help calculate net sales and then prepare a classified multistep income statement a Calculate Net Sales Net Sales are calculated by taking the total sales and subtra... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Posted Date:
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