The Mira Bookstore sells books used in classes such as workbooks and accounting books. The enrolled...

Transcribed Image Text:

The Mira Bookstore sells books used in classes such as workbooks and accounting books. The enrolled students from different private schools comprising 1,545 senior high school taking up STEM, purchased the three pre- scribed books at 500 each. The books cost P200 each. Also, sales of various school sup- plies amounted to $500,000. Costs of these school supplies amounted to $250,000. The monthly salary of the bookstore manager is $28,000. The store is manned by one office clerk with monthly salary of #16,000, and two salespeople with a monthly salary of $18,000. Utilities expenses for the year totaled $80,000. Of this, 25% is for the small office at the back of the bookstore. Depreciation for store fixtures amounted to $50,000. Total supplies used is $12,500. Prepare a Statement of Comprehensive Income for MIRA Bookstore based on the above infor- mation using a multi-step approach for the year ended 2021. End of document The Mira Bookstore sells books used in classes such as workbooks and accounting books. The enrolled students from different private schools comprising 1,545 senior high school taking up STEM, purchased the three pre- scribed books at 500 each. The books cost P200 each. Also, sales of various school sup- plies amounted to $500,000. Costs of these school supplies amounted to $250,000. The monthly salary of the bookstore manager is $28,000. The store is manned by one office clerk with monthly salary of #16,000, and two salespeople with a monthly salary of $18,000. Utilities expenses for the year totaled $80,000. Of this, 25% is for the small office at the back of the bookstore. Depreciation for store fixtures amounted to $50,000. Total supplies used is $12,500. Prepare a Statement of Comprehensive Income for MIRA Bookstore based on the above infor- mation using a multi-step approach for the year ended 2021. End of document

Answer rating: 100% (QA)

Statement of Comprehensive Income Mira Bookstore Year Ended 2021 Revenues Sales of Books 1545000 Sal... View the full answer