The adjusted trial balance of Sheffield Corp. shows these data pertaining to sales at the end of
Question:
The adjusted trial balance of Sheffield Corp. shows these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $905,200; Freight-Out $15,100; Sales Returns and Allowances $18,700; and Sales Discounts $14,600.
Prepare the sales section of the income statement.
Sheffield Corp. | ||
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select an opening section name Net Income / (Loss)DividendsSalesTotal Expenses Retained Earnings, October 31, 2022Total RevenuesExpensesNet SalesRetained Earnings, November 1, 2021 | ||
enter an income statement item | $enter a dollar amount | |
select between addition and deduction Add Less: | ||
enter an income statement item | $enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter a subtotal of the two previous amounts | ||
select a closing section name Retained Earnings, October 31, 2022Net Income / (Loss)DividendsRetained Earnings, November 1, 2021ExpensesNet SalesTotal RevenuesTotal ExpensesSales | $enter a total amount for this section |
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso