The following selected accounts from Pharoah Corporation's general ledger are for the year ended December 31,...
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The following selected accounts from Pharoah Corporation's general ledger are for the year ended December 31, 2025. Accounts receivable Accumulated depreciation-equipment Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Equipment Freight-out Income tax expense Insurance expense Interest expense Interest revenue Inventory Prepaid expenses Rent revenue Retained earnings Salaries and wages expense Sales revenue Unearned sales revenue $256,000 757,000 55,900 240,000 1,166,000 122,000 142,000 1.500,000 25,100 71,500 23.600 62,900 30,000 100,000 30,500 25,400 $42.000 701,000 2.573,000 20,000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses) Sales Revenue Cost of Goods Sold Groce Profit Operating Expenses Freight Out Salaries and Wages Dipende Depreciation Experie Advertising Dipense Insurance Expense Total Operating tips Operating Expenses Other Expenses and Losses Fent Revenue inerest Expense income before income Ta V V V PHAROAH CORPORATION Income Statement Year Ended December 31, 2025 0000000 000 E The following selected accounts from Pharoah Corporation's general ledger are for the year ended December 31, 2025. Accounts receivable Accumulated depreciation-equipment Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Equipment Freight-out Income tax expense Insurance expense Interest expense Interest revenue Inventory Prepaid expenses Rent revenue Retained earnings Salaries and wages expense Sales revenue Unearned sales revenue $256,000 757,000 55,900 240,000 1,166,000 122,000 142,000 1.500,000 25,100 71,500 23.600 62,900 30,000 100,000 30,500 25,400 $42.000 701,000 2.573,000 20,000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses) Sales Revenue Cost of Goods Sold Groce Profit Operating Expenses Freight Out Salaries and Wages Dipende Depreciation Experie Advertising Dipense Insurance Expense Total Operating tips Operating Expenses Other Expenses and Losses Fent Revenue inerest Expense income before income Ta V V V PHAROAH CORPORATION Income Statement Year Ended December 31, 2025 0000000 000 E
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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