Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000 Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during the year 4,200,000 Furniture 1,500,000 Office Electricity bill 413,000 Accounts receiveables 654,000 Bank overdraft 421,000 Office rent 631,000 Factory rent 235,000 Cash in Hand 1,200,000 Cash Sales Made During the year 6,825,000 Cash at Bank 4,589,000 Inventory 2,595,000 Billboard Expenses 412,350 Labour Cost 658,000 Owner's equity 8,975,000 Sales Tax 756,000 other manufacturing expenses 978,000 interest on bank loan 745,000 Rent Received 1,250,000

Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000 Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during the year 4,200,000 Furniture 1,500,000 Office Electricity bill 413,000 Accounts receiveables 654,000 Bank overdraft 421,000 Office rent 631,000 Factory rent 235,000 Cash in Hand 1,200,000 Cash Sales Made During the year 6,825,000 Cash at Bank 4,589,000 Inventory 2,595,000 Billboard Expenses 412,350 Labour Cost 658,000 Owner's equity 8,975,000 Sales Tax 756,000 other manufacturing expenses 978,000 interest on bank loan 745,000 Rent Received 1,250,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Please do not give image format and dont use chatgpt

Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000
Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during the year 4,200,000 Furniture 1,500,000 Office
Electricity bill 413,000 Accounts receiveables 654,000 Bank overdraft 421,000 Office rent 631,000 Factory rent 235,000 Cash
in Hand 1,200,000 Cash Sales Made During the year 6,825,000 Cash at Bank 4,589,000 Inventory 2,595,000 Bill board
Expenses 412,350 Labour Cost 658,000 Owner's equity 8,975,000 Sales Tax 756,000 other manufacturing expenses 978,000
interest on bank loan 745,000 Rent Received 1,250,000

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