At the end of Bridgeport Department Store’s fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance. Freight-In   $ 7,500 Inventory   39,400 Purchases   578,500 Purchase Discounts   6,600 Purchase Returns and Allowances   2,900 Sales Revenue   1,044,700 Sales Returns and Allowances   17,000 Additional facts: 1.   Merchandise inventory on November 30, 2020, is $ 53,800. 2.   Bridgeport Department Store uses a periodic system. Prepare an income statement through gross profit for the year ended November 30, 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BRIDGEPORT DEPARTMENT STORE Income Statement (Partial) choose the accounting period   select an opening name for section one                   enter an income statement item               $ enter a dollar amount select between addition and deduction :  enter an income statement item                 enter a dollar amount select a closing name for section one                 enter a total amount for section one select an opening name for section two                   select an income statement item             $ enter a dollar amount     enter an opening subsection name       $ enter a dollar amount         select between addition and deduction :                    enter an income statement item     $ enter a dollar amount             enter an income statement item     enter a dollar amount                       enter a subtotal of the two previous amounts         select a closing subsection name         enter a total amount for this subsection         select between addition and deduction :  enter an income statement item         enter a dollar amount         select a summarizing line for this part             enter a subtotal of the two previous amounts     select an income statement item             enter a total amount for the first part     select bewteen addition and deduction : select an income statement item             enter a dollar amount     select a closing name for section two               enter a total amount for section two select a closing name for this part of the income statement                 $ enter a total amount for this part of the income statement   eTextbook and Media

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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HW Q 4

 

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At the end of Bridgeport Department Store’s fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance.

Freight-In   $ 7,500
Inventory   39,400
Purchases   578,500
Purchase Discounts   6,600
Purchase Returns and Allowances   2,900
Sales Revenue   1,044,700
Sales Returns and Allowances   17,000

Additional facts:

1.   Merchandise inventory on November 30, 2020, is $ 53,800.
2.   Bridgeport Department Store uses a periodic system.

Prepare an income statement through gross profit for the year ended November 30, 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

BRIDGEPORT DEPARTMENT STORE
Income Statement (Partial)

choose the accounting period
 
select an opening name for section one
 
               
enter an income statement item
             
$ enter a dollar amount
select between addition and deduction
:  enter an income statement item
                enter a dollar amount
select a closing name for section one
 
             
enter a total amount for section one
select an opening name for section two
 
               
select an income statement item
 
         
$ enter a dollar amount
   
enter an opening subsection name
     
$ enter a dollar amount
       
select between addition and deduction
                 
enter an income statement item
   
$ enter a dollar amount
           
enter an income statement item
    enter a dollar amount            
 
        enter a subtotal of the two previous amounts        
select a closing subsection name
 
     
enter a total amount for this subsection
       
select between addition and deduction
:  enter an income statement item
        enter a dollar amount        
select a summarizing line for this part
 
          enter a subtotal of the two previous amounts    
select an income statement item
 
         
enter a total amount for the first part
   
select bewteen addition and deduction

: select an income statement item

 
          enter a dollar amount    
select a closing name for section two
              enter a total amount for section two
select a closing name for this part of the income statement
 
             
$ enter a total amount for this part of the income statement
 

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