Please help me prepare an income statement for this: ACCOUNT AMOUNT Revenue 500,000 Cost of Good Sold 300,000 Wage Expense 100,000 Rent Expense 30,000 Supplies Expense 20,000 Utilities Expense 10,000 Promotion Expense 50,000

Please help me prepare an income statement for this: ACCOUNT AMOUNT Revenue 500,000 Cost of Good Sold 300,000 Wage Expense 100,000 Rent Expense 30,000 Supplies Expense 20,000 Utilities Expense 10,000 Promotion Expense 50,000

Name: Please help me prepare an income statement for this:ACCOUNTAMOUNTReven
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Please help me prepare an income statement for this:ACCOUNTAMOUNTRevenue500,000Cost of Good Sold300,000Wage Expense 100,000Rent Expense30,000Supplies Expense20,000Utilities Expense10,000Promotion Expense 50,000

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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A 92. Subject:- accounting
Why are the following items listed as a DR? Aren't they CR accounts? Exp;enses are CR accounts aren't they since they reduce assets? Income Statement Sales and Labor Revenue $1,592,430Cost of Goods $762,200Gross Profit $ 830,230 Operating Expenses:Salary Expense $337,425Depreciation Expense $44,500 Tax Expense $30,200Insurance Expense $22,000Office Expense $3,050Miscellaneous Expense $9,730Total Expenses $446,905 $383,325
Based on this information can you create an Income Statment Accounts Receivable $1,200 Accounts Payable $20,200 Advertising Expense $750 Cash $28,600 Cost of Goods Sold $8,800 Drawings by Owner $1,625 Equipment $5,150 Interest Expense $300 Interest Payable $300 Inventory $3,900 Investments by Owner $10,000 Rent Expense $3,600 Sales Returns $600 Sales Revenue $11,900 Service Revenue $20,750 Supplies $600 Supplies Expense $2,025 Utilities Expense $600 Wages Expense $5,400
Make the single step statement of the following. Sales 417,500 Cost of goods sold 210,000 Salaries expense 38,000 Depreciation expense- building 40,000 Advertising expense 12,300 Office supplies Expense 3,500 Gains on disposal of store Equipment 3,000 Interest expense 1,000
Construct a proper Balance Sheet using the following accounts: Checking 45,000 Inventory 8,000 Accounts Receivable 10,000 Land 35,000 60,000 (10,000) Buildings Accumulated Depreciation Accounts Payable Notes Payable Retained Earnings Contruct a proper Income Statement using the following accounts Sales Sales Returns and Allowances Utilities Expense Insurance Expense Salaries Expense 10,000 22,000 116,000 Rent Expense Cost of Goods Sold Depreciation Expense 100,000 5,000 1,200 1,500 45,000 12,000 30,000 3,000
Given the following information, prepare an income statement for Jonas Brothers Cough Drops. Note: Input all your answers as positive values. Selling and administrative expense $ 301,000 Depreciation expense 198,000 Sales 2,050,000 Interest expense 128,000 Cost of goods sold 521,000 Taxes 167,000
Please help me with show all calculation thanku
Sandhill Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers. For the year 2022, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,800,000 420,000 400,000 Selling Selling expenses-fixed expenses-variable Administrative expenses-variable 420,000 Administrative expenses-fixed 110,000 $87,000 61,000 23,000 99,000
Presented below is the income statement of Coming Company: Sales Cost of goods sold Gross profit Operating expenses Income before income taxes $305,000 180,000 $125,000 68,000 57,000 21,400 $35,600 Income taxes Net income In addition, the following information related to net changes in working capital is presented: Cash Accounts receivable Inventories Salaries payable (operating expenses) Accounts payable Income tax payable Debit $9,600 10,000 $15,620 6,400 9,500 2,400 Credit The company also indicates that depreciation expense for the year was $12,360 and that the deferred tax liability account increased $3,080. Required: (a) Compute the net cash flow from operating activities that would be shown on a statement of cash flows using the indirect method. (b) Compute the net cash flow from operating activities that would be shown on a statement of cash flows using the direct method. P47 PPT (c) State the major difference between the two methods in handling statement of cash flows.
Prepare Income statement Sales Accounts payable Selling expenses Administrative expenses Other revenues Cost of goods sold Cash Other expenses $30,000 3,000 4,000 5,500 10,000 13,500 12,000 7,000

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ACCOUNT	AMOUNT
Revenue	500,000
Cost of Good Sold	300,000
Wage Expense	100,000
Rent Expense	30,000
Supplies Expense	20,000
Utilities Expense	10,000
Promotion Expense	50,000