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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 .
Additional facts:
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).)
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
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