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PROBLEM DATA The following information is for Bonnie's Buds, a nursery and floral shop, for the month ende- May 31, 2012: Accounts Payable Accounts Receivable Accum. Depreciation-Store Equipment $135,000 Prepaid Insurance 111,460 Purchases 152,250 Purchases Discount $ 24,000 419,000 54,325 4,500 Rent Expense-General Advertising Expense Cash Common Stock Depreciation Expense Dividends Insurance Expense-General Insurance Expense-Selling Merchandise Inventory. beginning Merchandise Inventory, ending 155,000 Store Supplies 16,500 Rent Expense-Selling 26,790 Retained Earnings, beginning 100,000 Salaries Expense-General 9,000 Salaries Expense-Selling 144,000 Salaries Payable 900 Sales 8,100 Sales Discount 117,000 Store Equipment 15,000 339,505 18,000 96,000 12,300 760,000 48,000 375,000 Store Supplies Expense 5,880 14,250

PROBLEM DATA The following information is for Bonnie's Buds, a nursery and floral shop, for the month ende- May 31, 2012: Accounts Payable Accounts Receivable Accum. Depreciation-Store Equipment $135,000 Prepaid Insurance 111,460 Purchases 152,250 Purchases Discount $ 24,000 419,000 54,325 4,500 Rent Expense-General Advertising Expense Cash Common Stock Depreciation Expense Dividends Insurance Expense-General Insurance Expense-Selling Merchandise Inventory. beginning Merchandise Inventory, ending 155,000 Store Supplies 16,500 Rent Expense-Selling 26,790 Retained Earnings, beginning 100,000 Salaries Expense-General 9,000 Salaries Expense-Selling 144,000 Salaries Payable 900 Sales 8,100 Sales Discount 117,000 Store Equipment 15,000 339,505 18,000 96,000 12,300 760,000 48,000 375,000 Store Supplies Expense 5,880 14,250

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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Prepare an Income Statement

PROBLEM DATA The following information is for Bonnie's Buds, a nursery and floral shop, for the month ended May 31, 2012: Accounts Payable Accounts Receivable Accum. Depreciation-Store Equipment $135,000 Prepaid Insurance 111,460 Purchases 152,250 Purchases Discount $ 24,000 419,000 Rent Expense-General 54,325 4,500 Advertising Expense Cash Common Stock 16,500 Rent Expense-Selling 26,790 Retained Earnings, beginning 100,000 Salaries Expense-General 9,000 Salaries Expense-Selling 144,000 Salaries Payable 900 Sales 8,100 Sales Discount 117,000 Store Equipment 15,000 339,505 18,000 96,000 Depreciation Expense Dividends Insurance Expense-General Insurance Expense-Selling Merchandise Inventory. beginning Merchandise Inventory, ending 155,000 Store Supplies 12,300 760,000 48,000 375,000 5,880 14,250 Store Supplies Expense
Transcribed Image Text:PROBLEM DATA The following information is for Bonnie's Buds, a nursery and floral shop, for the month ended May 31, 2012: Accounts Payable Accounts Receivable Accum. Depreciation-Store Equipment $135,000 Prepaid Insurance 111,460 Purchases 152,250 Purchases Discount $ 24,000 419,000 Rent Expense-General 54,325 4,500 Advertising Expense Cash Common Stock 16,500 Rent Expense-Selling 26,790 Retained Earnings, beginning 100,000 Salaries Expense-General 9,000 Salaries Expense-Selling 144,000 Salaries Payable 900 Sales 8,100 Sales Discount 117,000 Store Equipment 15,000 339,505 18,000 96,000 Depreciation Expense Dividends Insurance Expense-General Insurance Expense-Selling Merchandise Inventory. beginning Merchandise Inventory, ending 155,000 Store Supplies 12,300 760,000 48,000 375,000 5,880 14,250 Store Supplies Expense
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