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Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities ($000) $ 17.5 59.2 12.0 17.4 21.3 292.5 24.7 537.5 Sales revenue Support for local youth activities Transportation-in Wages and salaries costs Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. 4.1 11.0 14.6

Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities ($000) $ 17.5 59.2 12.0 17.4 21.3 292.5 24.7 537.5 Sales revenue Support for local youth activities Transportation-in Wages and salaries costs Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. 4.1 11.0 14.6

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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Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities Sales revenue Support for local youth activities Transportation-in costs Wages and salaries. Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. COGS Statement ($000) $ 17.5 59.2 12.0 17.4 21.3 292.5 24.7 537.5 Complete this question by entering your answers in the tabs below. Income Statement 4.1 11.0 14.6 NORWOOD STATIONARY Income Statement For the Month Ended October 31 ($000) Prepare an income statement for October. Note: Enter your answers in thousands rounded to 1 decimal place. < COGS Statement Income Statement >
Transcribed Image Text:Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities Sales revenue Support for local youth activities Transportation-in costs Wages and salaries. Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. COGS Statement ($000) $ 17.5 59.2 12.0 17.4 21.3 292.5 24.7 537.5 Complete this question by entering your answers in the tabs below. Income Statement 4.1 11.0 14.6 NORWOOD STATIONARY Income Statement For the Month Ended October 31 ($000) Prepare an income statement for October. Note: Enter your answers in thousands rounded to 1 decimal place. < COGS Statement Income Statement >
Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities Sales revenue Support for local youth activities Transportation-in costs Wages and salaries Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. COGS Statement Complete this question by entering your answers in the tabs below. Income Statement ($000) $ 17.5 59.2 12.0 Cost of goods sold NORWOOD STATIONARY Cost of Goods Sold Statement For the Month Ended October 31 ($000) Total cost of goods purchased 17.4 21.3 292.5 24.7 537.5 Prepare a cost of goods sold statement for October. Note: Enter your answers in thousands rounded to 1 decimal place. 4.1 11.0 14.6 < COGS Statement Income Statement >
Transcribed Image Text:Norwood Stationary has provided the following information (in thousands of dollars) for October. Administrative costs Commissions Marketing Merchandise inventory, October 1 Merchandise inventory, October 31 Merchandise purchases Rent and utilities Sales revenue Support for local youth activities Transportation-in costs Wages and salaries Required: 1. Prepare a cost of goods sold statement for October. 2. Prepare an income statement for October. COGS Statement Complete this question by entering your answers in the tabs below. Income Statement ($000) $ 17.5 59.2 12.0 Cost of goods sold NORWOOD STATIONARY Cost of Goods Sold Statement For the Month Ended October 31 ($000) Total cost of goods purchased 17.4 21.3 292.5 24.7 537.5 Prepare a cost of goods sold statement for October. Note: Enter your answers in thousands rounded to 1 decimal place. 4.1 11.0 14.6 < COGS Statement Income Statement >
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