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Sales Revenue 496,625 Cost of Goods Sold 207,400 Bad Debt Expense 4,900 Rent Expense 20,000 Interest Expense 2,000 Legal Fees Expense Insurance Expense 450 5,200 Property Tax Expense 1,250

Sales Revenue 496,625 Cost of Goods Sold 207,400 Bad Debt Expense 4,900 Rent Expense 20,000 Interest Expense 2,000 Legal Fees Expense Insurance Expense 450 5,200 Property Tax Expense 1,250

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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Income statement With formula.

 

 

Sales Revenue 496,625 Cost of Goods Sold 207,400 Bad Debt Expense Rent Expense 4,900 20,000 Interest Expense 2,000 Legal Fees Expense Insurance Expense 450 5,200 Property Tax Expense 1,250 Postage Expense Salaries Expense (admin) 224 59,850 Advertising Expense Utilities Expense 26,700 22,500 Payroll Tax Expense (operations) Income Tax Expense 11,445 8,133 Payroll Tax Expense (admin) 8,978 Salaries Expense (operations) Depreciation Expense 76,300 6,500 Supplies Expense 4,200
Transcribed Image Text:Sales Revenue 496,625 Cost of Goods Sold 207,400 Bad Debt Expense Rent Expense 4,900 20,000 Interest Expense 2,000 Legal Fees Expense Insurance Expense 450 5,200 Property Tax Expense 1,250 Postage Expense Salaries Expense (admin) 224 59,850 Advertising Expense Utilities Expense 26,700 22,500 Payroll Tax Expense (operations) Income Tax Expense 11,445 8,133 Payroll Tax Expense (admin) 8,978 Salaries Expense (operations) Depreciation Expense 76,300 6,500 Supplies Expense 4,200
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