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Business
Accounting
Sales Discount 40000 Rent Income 180000 Interest Income 263 Cost of Goods Sold 1117000 Office Salaries Expense 516000 Store Salaries Expense 774000 Utilities Expense - Office 240000 Utilities Expense - Store 290000 Depreciation Expense - Building 80000 Depreciation Expense - Office Furniture and Equipment 27000 Depreciation Expense - Store Furniture and Equipment 20000 Office Supplies Expense 6000 Stores Supplies Expense 14000 Freight - out 22000 Insurance Expenses 15000 Doubtful Account Expenses 3000 Taxes and Licenses Expense 400000 Miscellaneous Distribution Cost 2300 Miscellaneous Administrative Expenses 17000 Income Summary 10124263.01 10124263.01

Sales Discount 40000 Rent Income 180000 Interest Income 263 Cost of Goods Sold 1117000 Office Salaries Expense 516000 Store Salaries Expense 774000 Utilities Expense - Office 240000 Utilities Expense - Store 290000 Depreciation Expense - Building 80000 Depreciation Expense - Office Furniture and Equipment 27000 Depreciation Expense - Store Furniture and Equipment 20000 Office Supplies Expense 6000 Stores Supplies Expense 14000 Freight - out 22000 Insurance Expenses 15000 Doubtful Account Expenses 3000 Taxes and Licenses Expense 400000 Miscellaneous Distribution Cost 2300 Miscellaneous Administrative Expenses 17000 Income Summary 10124263.01 10124263.01

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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c)  Prepare the company’s functional-form Income Statement for the fiscal year ended September 30, 2020. 

d)Prepare the company’s Statement of Changes in Equity for the fiscal year ended September 30, 2020. 

e) Prepare the company’s report form Statement of Financial Positionas of September 30,2020.

Sales Discount 40000 Rent Income 180000 Interest Income 263 Cost of Goods Sold 1117000 Office Salaries Expense 516000 Store Salaries Expense 774000 Utilities Expense - Office 240000 Utilities Expense - Store 290000 Depreciation Expense - Building 80000 Depreciation Expense - Office Furniture and Equipment 27000 Depreciation Expense - Store Furniture and Equipment 20000 Office Supplies Expense 6000 Stores Supplies Expense 14000 Freight - out 22000 Insurance Expenses 15000 Doubtful Account Expenses 3000 Taxes and Licenses Expense 400000 Miscellaneous Distribution Cost 2300 Miscellaneous Administrative Expenses 17000 Income Summary 10124263.01 10124263.01
Transcribed Image Text:Sales Discount 40000 Rent Income 180000 Interest Income 263 Cost of Goods Sold 1117000 Office Salaries Expense 516000 Store Salaries Expense 774000 Utilities Expense - Office 240000 Utilities Expense - Store 290000 Depreciation Expense - Building 80000 Depreciation Expense - Office Furniture and Equipment 27000 Depreciation Expense - Store Furniture and Equipment 20000 Office Supplies Expense 6000 Stores Supplies Expense 14000 Freight - out 22000 Insurance Expenses 15000 Doubtful Account Expenses 3000 Taxes and Licenses Expense 400000 Miscellaneous Distribution Cost 2300 Miscellaneous Administrative Expenses 17000 Income Summary 10124263.01 10124263.01
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