Activity 4-3. Multi Step Income Statement Using the following accounts, prepare a multi-step income statement at year end, May 31, 2021: Cost of Goods Sold, P84,000; General Expenses, P45,000; Interest Expense, P21,000; Interest Income, P9,000; Net Sales, P240,000%; Selling Expenses, P55,500. Assume the name of the business.

Activity 4-3. Multi Step Income Statement Using the following accounts, prepare a multi-step income statement at year end, May 31, 2021: Cost of Goods Sold, P84,000; General Expenses, P45,000; Interest Expense, P21,000; Interest Income, P9,000; Net Sales, P240,000%; Selling Expenses, P55,500. Assume the name of the business.

Name: Activity 4-3. Multi Step Income StatementUsing the following accounts
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Description: Activity 4-3. Multi Step Income StatementUsing the following accounts, prepare a multi-step income statement at yearend, May 31, 2021: Cost of Goods Sold, P84,000; General Expenses, P45,000;Interest Expense, P21,000; Interest Income, P9,000; Net Sal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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