Presented below is information for Ayayai Company for the month of March 2017. Purchases $212,426 Rent expense $30,000 Freight-in 8,000 Sales discounts 9,000 Purchase returns and allowances 7,000 Sales returns and allowances 12,000 Salaries and wages expense 58,000 Sales revenue 375,000 Beginning inventory was $47,000, and ending inventory was $59,000. Prepare a multiple-step income statement. AYAYAI COMPANY Income Statement For the Month Ended March 31, 2017 Cost of Goods Available for Sale: 375000 %$4 Sales Revenue Less + 12000 %24 Sales Returns and Allowances 9000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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gandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College
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Exercise 5A-9 a-b
Presented below is information for Ayayai Company for the month of March 2017.
Purchases
$212,426
Rent expense
$ 30,000
Freight-in
8,000
Sales discounts
9,000
Purchase returns and allowances
7,000
Sales returns and allowances
12,000
Salaries and wages expense
58,000
Sales revenue
375,000
Beginning inventory was $47,000, and ending inventory was $59,000.
Prepare a multiple-step income statement.
AYAYAI COMPANY
Income Statement
For the Month Ended March 31, 2017
Cost of Goods Available for Sale
375000
Sales Revenue
Less .
:
12000
Sales Returns and Allowances
9000
%24
%24
Transcribed Image Text:gandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Retu rn to Blackboard Help | System Announcements Exercise 5A-9 a-b Presented below is information for Ayayai Company for the month of March 2017. Purchases $212,426 Rent expense $ 30,000 Freight-in 8,000 Sales discounts 9,000 Purchase returns and allowances 7,000 Sales returns and allowances 12,000 Salaries and wages expense 58,000 Sales revenue 375,000 Beginning inventory was $47,000, and ending inventory was $59,000. Prepare a multiple-step income statement. AYAYAI COMPANY Income Statement For the Month Ended March 31, 2017 Cost of Goods Available for Sale 375000 Sales Revenue Less . : 12000 Sales Returns and Allowances 9000 %24 %24
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