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

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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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

select between addition and deduction

enter an income statement item								$ enter a dollar amount

select a closing name for section one
: enter an income statement item									enter a dollar amount

select an opening name for section two
								enter a total amount for section one

select an income statement item

select between addition and deduction
						$ enter a dollar amount
enter an opening subsection name				$ enter a dollar amount

select a closing subsection name
:
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 between addition and deduction
				enter a total amount for this subsection

select a summarizing line for this part
: enter an income statement item					enter a dollar amount

select an income statement item
						enter a subtotal of the two previous amounts

select bewteen addition and deduction
						enter a total amount for the first part

: select an income statement item

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

								$ enter a total amount for this part of the income statement

eTextbook and Media

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