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prepare the Income Statement

prepare the Income Statement

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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Please prepare the Income Statement. Thank yoouuu
Prepare a Multi – Step SCI Prepare the SCI for Merchandizing Business All currency is in Philippine Pesos Maitum School Supplies Trial Balance Monday, December 31, 2018 Account Debit Credit Sales 304,650.00 Sales Returns and Allowances 2,800.00 Sales Discounts 3,500.00 173,800.00 76,010.00 Merchandise Inventory, Beginning Purchases Freight-in 1,105.00 1,550.00 3,000.00 Purchase Discounts Purchase Returns and Allowances 60,865.00 52,000.00 Merchandise Inventory, End Rent Commission Expense 14,500.00 Salaries 43,230.00 1,770.00 300.00 Utilities Gas and Oil Repairs and Maintenance 4,255.00 Interest Income 1,305.00 Interest Expense 5,000.00 Taxes and Licenses 3,000.00 TOTALS: 442,135.00 310,505.00 CS Scanned with CamScanner
Transcribed Image Text:Prepare a Multi – Step SCI Prepare the SCI for Merchandizing Business All currency is in Philippine Pesos Maitum School Supplies Trial Balance Monday, December 31, 2018 Account Debit Credit Sales 304,650.00 Sales Returns and Allowances 2,800.00 Sales Discounts 3,500.00 173,800.00 76,010.00 Merchandise Inventory, Beginning Purchases Freight-in 1,105.00 1,550.00 3,000.00 Purchase Discounts Purchase Returns and Allowances 60,865.00 52,000.00 Merchandise Inventory, End Rent Commission Expense 14,500.00 Salaries 43,230.00 1,770.00 300.00 Utilities Gas and Oil Repairs and Maintenance 4,255.00 Interest Income 1,305.00 Interest Expense 5,000.00 Taxes and Licenses 3,000.00 TOTALS: 442,135.00 310,505.00 CS Scanned with CamScanner
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