The following selected accounts and amounts (in millions) were taken from the February 27, 2010, financial statements

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The following selected accounts and amounts (in millions) were taken from the February 27, 2010, financial statements of The Jean Coutu Group Inc., one of Canada's leading drugstore chains.

The following selected accounts and amounts (in millions) were taken

Instructions
(a) For each of the above accounts, identify whether it is a revenue (R) or expense (E) or an account that is not reported on the income statement (NR).
(b) Prepare an income statement for Jean Coutu for the year ended February 27, 2010.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For  book-img-for-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118024492

5th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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