ACTIVITY No. The trial balance of ABC Ca on December 31, 2018 shows the following information: Debit Sales Interest Income Gains Inventory, beg. Purchases Freight-In Purchase Returns Purchase Discounts Freight out Sales Commission Advertising Expense Salaries Expense Rent Expense Depreciation Expense Utilities Expense Supplies Expense Transportation and travel Expense Insurance Expense Taxes and Licenses Interest Expense Miscellaneous Expense Loss on the sale of equipment Additional information: a Ending Inventory is 80,000. b. P50,000 200,000 10,000 REQUIRED Prepare the statement of comprehensive income 25,000 30,000 15,000 300,000 30,000 40,000 20,000 10,000 5,000 12,000 70,000 2,000 1,000 15,000 P Credit 900,000 60,000 20,000 5,000 7,000 One-half of the salaries, rent, and depreciation expenses pertain to the sales department. The sales department does not share in the other expense.

ACTIVITY No. The trial balance of ABC Ca on December 31, 2018 shows the following information: Debit Sales Interest Income Gains Inventory, beg. Purchases Freight-In Purchase Returns Purchase Discounts Freight out Sales Commission Advertising Expense Salaries Expense Rent Expense Depreciation Expense Utilities Expense Supplies Expense Transportation and travel Expense Insurance Expense Taxes and Licenses Interest Expense Miscellaneous Expense Loss on the sale of equipment Additional information: a Ending Inventory is 80,000. b. P50,000 200,000 10,000 REQUIRED Prepare the statement of comprehensive income 25,000 30,000 15,000 300,000 30,000 40,000 20,000 10,000 5,000 12,000 70,000 2,000 1,000 15,000 P Credit 900,000 60,000 20,000 5,000 7,000 One-half of the salaries, rent, and depreciation expenses pertain to the sales department. The sales department does not share in the other expense.

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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