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

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter2: Building Blocks Of Managerial Accounting
Section: Chapter Questions
Problem 3PA: Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach...
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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
Transcribed Image Text: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
P2,000
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
Check My Work
%24
%24
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Transcribed Image Text:P2,000 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 Check My Work %24 %24 %24
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