Smokin' Tony's operates a BBQ style restaurant. Some of its financial information is shown below for...

  
 
 
 

 

 
 

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Smokin' Tony's operates a BBQ style restaurant. Some of its financial information is shown below for its fiscal year ended October 31, 2016. Cost of Sales Depreciation Expense Gain on Sale of Equipment Interest Expense Insurance Expense Salaries Expense Sales Revenue Supplies Expense Utilities Expense $61,900 $5,530 $4,980 $1,380 $10,100 $38,100 $181,900 $3,100 $10,700 Required a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter all accounts under the appropriate section in alobabetical order. Do not use negative signs Smokin' Tony's Income Statement For the Year Ended October 31, 2016 Sales Revenue Cost of Sales Gross Profit Operating Expenses Total Operating Expenses Operating Income . $ S $ S Other Revenue and Expenses Net Income Total Other Revenue and Expenses Depreciation Expense Insurance Expense Salaries Expense Supplies Expense Utilities Expense Sales Revenue Cost of Sales + Gross Profit 0 b) Prepare a classified multistep income statement using the following information. Expense Waiting Administrative Casting Expenses $ 100% 75% 80% 0% 75% $ S 0% 25% 20% 100% 25% Total 100% 100% 100% 100% 100% Smokin' Tony's Income Statement For the Year Ended October 31, 2016 $ Waiting Expenses Total Waiting Expenses Administrative Expenses Total Administrative Expenses Total Operating Expenses Operating Income Other Revenue and Expenses 0 " 49 $ ● $ $ $ ● $ 0 $ $ 0 $ $ $ Total Administrative Expenses Total Operating Expenses Operating Income Other Revenue and Expenses + Net Income + + + Total Other Revenue and Expenses $ $ S Smokin' Tony's operates a BBQ style restaurant. Some of its financial information is shown below for its fiscal year ended October 31, 2016. Cost of Sales Depreciation Expense Gain on Sale of Equipment Interest Expense Insurance Expense Salaries Expense Sales Revenue Supplies Expense Utilities Expense $61,900 $5,530 $4,980 $1,380 $10,100 $38,100 $181,900 $3,100 $10,700 Required a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter all accounts under the appropriate section in alobabetical order. Do not use negative signs Smokin' Tony's Income Statement For the Year Ended October 31, 2016 Sales Revenue Cost of Sales Gross Profit Operating Expenses Total Operating Expenses Operating Income . $ S $ S Other Revenue and Expenses Net Income Total Other Revenue and Expenses Depreciation Expense Insurance Expense Salaries Expense Supplies Expense Utilities Expense Sales Revenue Cost of Sales + Gross Profit 0 b) Prepare a classified multistep income statement using the following information. Expense Waiting Administrative Casting Expenses $ 100% 75% 80% 0% 75% $ S 0% 25% 20% 100% 25% Total 100% 100% 100% 100% 100% Smokin' Tony's Income Statement For the Year Ended October 31, 2016 $ Waiting Expenses Total Waiting Expenses Administrative Expenses Total Administrative Expenses Total Operating Expenses Operating Income Other Revenue and Expenses 0 " 49 $ ● $ $ $ ● $ 0 $ $ 0 $ $ $ Total Administrative Expenses Total Operating Expenses Operating Income Other Revenue and Expenses + Net Income + + + Total Other Revenue and Expenses $ $ S

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1 Multistep income statement Smokin Tony Income statement Multi step For the Year ended October 31 2... View the full answer