The following information is given: Gain on sale of equipment $ 6,350 Depreciation expenseOffice copier $ 600
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Question:
The following information is given:
Gain on sale of equipment $ 6,350
Depreciation expense—Office copier $ 600
Office supplies expense 770
Sales discounts 15,700
Insurance expense 1,240
Sales returns and allowances 4,000
Sales 215,000
TV advertising expense 2,100
Office salaries expense 31,500
Interest revenue 600
Rent expense—Selling space 11,000
Cost of goods sold 88,100
Sales salaries expense 23,000
Sales commission expense 13,000
Prepare a multiple-step income statement.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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