Make a Statement of Comprehensive Income.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Make a Statement of Comprehensive Income.
![PROBLEM #3 THE FOLLOWING ARE THE ACCOUNTS
COF MARIES MERCHANDISING FOR JULY 31, 2016
• SALES
P1,000,000
SALARIES EXPENSE
P20,000
• SUPPLIES EXPENSE
P30,000
• DEPRECIATION EXPENSE
P24,000
20% SALES
80% ADMINISTRATIVE
• UTILITIES EXPENSE
P16,000
• INSURANCE EXPENSE
P8,000
• RENT EXPENSE
P36,000
P12,500
BEGINNING ILNVENTORY
P375,000
• PURCHASES
P25,000
• ENDING INVENTORY
P1250
• SALES DISCOUNT](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8de98569-0123-4350-8340-1b3ea889ae2c%2Ff9b2e469-6a40-4b78-a38d-91f741b6ebcc%2Fopkdz8o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PROBLEM #3 THE FOLLOWING ARE THE ACCOUNTS
COF MARIES MERCHANDISING FOR JULY 31, 2016
• SALES
P1,000,000
SALARIES EXPENSE
P20,000
• SUPPLIES EXPENSE
P30,000
• DEPRECIATION EXPENSE
P24,000
20% SALES
80% ADMINISTRATIVE
• UTILITIES EXPENSE
P16,000
• INSURANCE EXPENSE
P8,000
• RENT EXPENSE
P36,000
P12,500
BEGINNING ILNVENTORY
P375,000
• PURCHASES
P25,000
• ENDING INVENTORY
P1250
• SALES DISCOUNT
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