Below are the accounts of Llamado Poultry Supply Store for the year ended June 30, 2020. Sales 100,000 Sales Returns and Allowances 1,000 1,500. 38,000 Sales Discount Merchandise Inventory, Beginning Purchases 30,000 2,000 1,000 700 Purchase Returns and Allowances Purchase Discount Freight-in Merchandise Inventory, Ending 20,000 Interest Income 7,000 Rent Income 3,000 12,000 9,000 Sales Salaries Depreciation Expense - Store Equipment Utilities Expense - Store 2,000 Office Salaries 12,000 Office Supplies 1,000 Bad Debts 1,300 Finance Cost 2,100 Required: 1. Create SCI using a multi-step approach. 2. Please make the proper indention of accounts as you write them in the SCI. The indention will serve as your guide in computing and will make your document look formal.
Below are the accounts of Llamado Poultry Supply Store for the year ended June 30, 2020. Sales 100,000 Sales Returns and Allowances 1,000 1,500. 38,000 Sales Discount Merchandise Inventory, Beginning Purchases 30,000 2,000 1,000 700 Purchase Returns and Allowances Purchase Discount Freight-in Merchandise Inventory, Ending 20,000 Interest Income 7,000 Rent Income 3,000 12,000 9,000 Sales Salaries Depreciation Expense - Store Equipment Utilities Expense - Store 2,000 Office Salaries 12,000 Office Supplies 1,000 Bad Debts 1,300 Finance Cost 2,100 Required: 1. Create SCI using a multi-step approach. 2. Please make the proper indention of accounts as you write them in the SCI. The indention will serve as your guide in computing and will make your document look formal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Below are the accounts of Llamado Poultry Supply Store for the year ended June 30,
2020.
Sales
100,000
Sales Returns and Allowances
1,000
Sales Discount
1,500
Merchandise Inventory, Beginning
38,000
Purchases
30,000
Purchase Returns and Allowances
2,000
Purchase Discount
1,000
Freight-in
Merchandise Inventory, Ending
700
20,000
Interest Income
7,000
Rent Income
3,000
Sales Salaries
12,000
De preciation Expense - Store Equipment
Utilities Expense - Store
9,000
2,000
Office Salaries
12,000
Office Supplies
1,000
Bad Debts
1,300
Finance Cost
2,100.
Required:
1. Create SCI using a multi-step approach.
2. Please make the proper indention of accounts as you write them in the SCI.
The indention will serve as your guide in computing and will make your
document look formal.
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