The following adjusted trial balance information was taken from the end of the July 31, 2014, fiscal
Question:
Brilliant Sales uses a perpetual inventory system.
Required
1. Prepare a classified multiple-step income statement for use by internal users (like Exhibit 5.15).
2. Prepare a multiple-step income statement for external users (like Exhibit 5.16).
3. Prepare a single-step income statement (like Exhibit 5.17).
Transcribed Image Text:
Debit 6,500 12,220 2,400 1,150 29,400 Credit 101 Cash 119 Mchdie inventory 125 Supplies 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment. 7,500 168 201 Accumulated depreciation, office equipment Accounts payable 8,100 6,400 107,920 61,000 302 Ty Brilliant, withdrawals 413 Sales 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment 395,400 1,200 261,800 1,500 622 Sales salaries expense 623 Office salaries expense 637 nsurance expense, store 638 Insurance expense, office 640 Rent expense, office space 641 Rent expense, selling space 651 Office supplies expense 652 Store supplies expense 655 Advertising expense 39,000 32,000 4,100 2,800 13,100 21,000 2,600 1,800 14.900 Totals .S525,320 525,320
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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