Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense nsurance expense Rent expense - Store Rent expense office Store supplies expense dvertie exp Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33.900 Credit $29,00 30,00 12,00 136,80 425,00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Provided is a trial balance. Please complete an multi-step income statement. I will give you a thumbs up. Thank you

 
Income Statement
For Year Ended December 31, 2023
Select account title from list
Operating expenses
Selling expenses
Total selling expenses
General and administrative expenses
Total general and administrative expenses
Total operating expenses
Transcribed Image Text:Income Statement For Year Ended December 31, 2023 Select account title from list Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses
Cash
Accounts receivable
Merchandise inventory
Store supplies
Store Equipment
Accumulated depreciation
Accounts payable
Salaries payable
Capital
Withdrawals
December 31, 2023
Sales
Sales discounts
Sales returns and allowances
Cost of goods sold
Depreciation expense - Store equip.
Sales salaries expense
Office salaries expense
Insurance expense
Rent expense - Store
Rent expense office
Store supplies expense
Advertising expense
Totals
Debit
$19,500
38,000
72,500
4,000
96,000
60,000
7,000
21,300
149,000
14,500
29,800
36,500
13,500
19,500
9,500
8,300
33,900
$632,800
Credit
$29,000
30,000
12,000
136,800
425,000
$632,800
Transcribed Image Text:Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals December 31, 2023 Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense Insurance expense Rent expense - Store Rent expense office Store supplies expense Advertising expense Totals Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33,900 $632,800 Credit $29,000 30,000 12,000 136,800 425,000 $632,800
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