CalculatorJust Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventoryfrom wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses.Sales revenue$675,000Building rent46,000Advertising51,000Sales staff salaries83,000Cost of goods sold305,000Utilities23,000Supplies8,000Using this information, prepare an income statement for Just Beachy for 2017.Just BeachyIncome StatementFor Year Ending 2017Sales Revenue2$675,000Cost of Goods Sold305,000Gross Profit370,000Advertising$51,000Building Rent46,000Sales Staff Salaries83,000Supplies8,000Utilities23,000PreviousNextAll work saved.Email InstructorSubmit Test for Grading5:39 PM10/2/20203%24II Supplies8,000Using this information, prepare an income statement for Just Beachy for 2017.Just BeachyIncome StatementFor Year Ending 2017Sales Revenue675,000Cost of Goods Sold305,000Gross Profit370,000Advertising51,000Building Rent46,000Sales Staff Salaries83,000Supplies8,000Utilities23,000Operating Expenses211,000Net Income159,000All work saved.%24%24%24%24

Name: CalculatorJust Beachy is a retail business located on the coast of Fl
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Description: CalculatorJust Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventoryfrom wholesalers and distributors. For the year end

Income Statement: The Income Statement is one of a company’s core financial statements that shows…

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Accounting

Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventory from wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses. Sales revenue $675,000 Building rent 46,000 Advertising 51,000 Sales staff salaries 83,000 Cost of goods sold 305,000 Utilities 23,000 Supplies ৪,000 Using this information, prepare an income statement for Just Beachy for 2017.

Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventory from wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses. Sales revenue $675,000 Building rent 46,000 Advertising 51,000 Sales staff salaries 83,000 Cost of goods sold 305,000 Utilities 23,000 Supplies ৪,000 Using this information, prepare an income statement for Just Beachy for 2017.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Calculator
Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventory
from wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses.
Sales revenue
$675,000
Building rent
46,000
Advertising
51,000
Sales staff salaries
83,000
Cost of goods sold
305,000
Utilities
23,000
Supplies
8,000
Using this information, prepare an income statement for Just Beachy for 2017.
Just Beachy
Income Statement
For Year Ending 2017
Sales Revenue
2$
675,000
Cost of Goods Sold
305,000
Gross Profit
370,000
Advertising
$
51,000
Building Rent
46,000
Sales Staff Salaries
83,000
Supplies
8,000
Utilities
23,000
Previous
Next
All work saved.
Email Instructor
Submit Test for Grading
5:39 PM
10/2/2020
3
%24
II

Supplies
8,000
Using this information, prepare an income statement for Just Beachy for 2017.
Just Beachy
Income Statement
For Year Ending 2017
Sales Revenue
675,000
Cost of Goods Sold
305,000
Gross Profit
370,000
Advertising
51,000
Building Rent
46,000
Sales Staff Salaries
83,000
Supplies
8,000
Utilities
23,000
Operating Expenses
211,000
Net Income
159,000
All work saved.
%24
%24
%24
%24

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Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventory from wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses. Sales revenue $665,000 Building rent 46,000 Advertising 52,000 Sales staff salaries 83,000 Cost of goods sold 305,000 Utilities 25,000 Supplies. 9,000 Using this information, prepare an income statement for Just Beachy for 2017. Just Beachy Income Statement "For Year Ending 2017 Previous Next