The following are taken from the records of San Agustin Lumber and Supplies forthe year ended December 2019. The business owneremployed you as its bookkeeperin its first year of operations. You are now to prepare the Statement of Comprehensive Income. Accordingly, 30% of the rent, salaries, depreciation, and utilities expenses pertain to the sales office while the rest to the corporate office. Advertising Expense Depreciation Expenses Freight-In Freight-out Insurance Expense Inventory, January 1, 2019 Inventory, December 31, 2019 Purchases Purchases Discount Purchases Returns and Allowance Rent Expense Salaries Expense Sales Sales discount Sales Returns and Allowances Utilities Expense 25,000.00 2,500.00 5,000.00 3,500.00 5,000.00 235,600.00 125,000.00 275,000.00 3,500.00 4,550.00 35,000.00 50,000.00 725,000.00 15,250.00 10,250.00 7,500.00
The following are taken from the records of San Agustin Lumber and Supplies forthe year ended December 2019. The business owneremployed you as its bookkeeperin its first year of operations. You are now to prepare the Statement of Comprehensive Income. Accordingly, 30% of the rent, salaries, depreciation, and utilities expenses pertain to the sales office while the rest to the corporate office. Advertising Expense Depreciation Expenses Freight-In Freight-out Insurance Expense Inventory, January 1, 2019 Inventory, December 31, 2019 Purchases Purchases Discount Purchases Returns and Allowance Rent Expense Salaries Expense Sales Sales discount Sales Returns and Allowances Utilities Expense 25,000.00 2,500.00 5,000.00 3,500.00 5,000.00 235,600.00 125,000.00 275,000.00 3,500.00 4,550.00 35,000.00 50,000.00 725,000.00 15,250.00 10,250.00 7,500.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are taken from the records of San Agustin Lumberand Supplies forthe year ended
December 2019.
The business owneremployed you as its bookkeeperin its first year of operations. You are now to
prepare the Statement of Comprehensive Income. Accordingly, 30% of the rent, salaries, depreciation,
and utilities expenses pertain to the sales office while the rest to the corporate office.
Advertising Expense
|Depreciation Expenses
Freight-In
Freight-out
Insurance Expense
Inventory, January 1, 2019
Inventory, December 31, 2019
Purchases
Purchases Discount
Purchases Returns and Allowance
Rent Expense
Salaries Expense
Sales
Sales discount
25,000.00
2,500.00
5,000.00
3,500.00
5,000.00
235,600.00
125,000.00
275,000.00
3,500.00
4,550.00
35,000.00
50,000.00
725,000.00
15,250.00
10,250.00
7,500.00
Sales Returns and Allowances
Utilities Expense
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