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Business
Accounting
MERCHAND SALES P 2,500,000 SALARIES EXPENSE 50,000 SUPPLIES EXPENSE 75,000 DEPRECIATION EXPENSE 60,000 UTILITIES EXPENSE 40,000 INSURANCE EXPENSE 20,000 RENT EXPENSE 90,000 BEGINNING INVENTORY 50,000 PURCHASES 1,500,000 ENDING INVENTORY 100,000 SALES DISCOUNT 5000

MERCHAND SALES P 2,500,000 SALARIES EXPENSE 50,000 SUPPLIES EXPENSE 75,000 DEPRECIATION EXPENSE 60,000 UTILITIES EXPENSE 40,000 INSURANCE EXPENSE 20,000 RENT EXPENSE 90,000 BEGINNING INVENTORY 50,000 PURCHASES 1,500,000 ENDING INVENTORY 100,000 SALES DISCOUNT 5000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare statement comprehensive income

Brave Browser REC MariaCarolina Santos is presenting is using the webcam Alliah Demate Desirie lumogdang Activity 1 REGINA MERCHANDISING SALES P 2,500,000 Angela Bertos Rigen5 Pamati-an SALARIES EXPENSE 50,000 SUPPLIES EXPENSE 75,000 DEPRECIATION EXPENSE 60,000 UTILITIES EXPENSE 40,000 Nina Loste Mika Salonga INSURANCE EXPENSE 20,000 RENT EXPENSE 90,000 BEGINNING INVENTORY 50,000 r PURCHASES 1,500,000 ryan julles gaon John Angelo ENDING INVENTORY 100,000 SALES DISCOUNT 5000 8 others ptt-xzcf-zba CC
Transcribed Image Text:Brave Browser REC MariaCarolina Santos is presenting is using the webcam Alliah Demate Desirie lumogdang Activity 1 REGINA MERCHANDISING SALES P 2,500,000 Angela Bertos Rigen5 Pamati-an SALARIES EXPENSE 50,000 SUPPLIES EXPENSE 75,000 DEPRECIATION EXPENSE 60,000 UTILITIES EXPENSE 40,000 Nina Loste Mika Salonga INSURANCE EXPENSE 20,000 RENT EXPENSE 90,000 BEGINNING INVENTORY 50,000 r PURCHASES 1,500,000 ryan julles gaon John Angelo ENDING INVENTORY 100,000 SALES DISCOUNT 5000 8 others ptt-xzcf-zba CC
Brave Browser REC MariaCarolina Santos is presenting Is using the webcam Desirie lumogdang Angela Bertos Note 15% of rent, depreciation and utility expenses pertain to the sales office while the rest pertains to the corporate office. Rigen5 Pamati-an Nina Loste Required: 1. Prepare a Statement of Comprehensive Income 2. How much is the net sales for the year? Mika Salonga John Angelo 3. How much is the cost of sales for the year? 4. How much is the gross profit for the year? 5. How much is the net income for the year? r Alliah Demate ryan julles gaon 10 others ptt-xzcf-zba CC 2 目品
Transcribed Image Text:Brave Browser REC MariaCarolina Santos is presenting Is using the webcam Desirie lumogdang Angela Bertos Note 15% of rent, depreciation and utility expenses pertain to the sales office while the rest pertains to the corporate office. Rigen5 Pamati-an Nina Loste Required: 1. Prepare a Statement of Comprehensive Income 2. How much is the net sales for the year? Mika Salonga John Angelo 3. How much is the cost of sales for the year? 4. How much is the gross profit for the year? 5. How much is the net income for the year? r Alliah Demate ryan julles gaon 10 others ptt-xzcf-zba CC 2 目品
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