QI:Ql:The following information provided by ABC companies. as of December31, 2019AccountsTotal Sales RTravel expense (ualespersonsInsurance expensesCost of goeds soldSales comminsionsSales salariesSales returnsTax tateDepreciation of office furninure and equipmentinterest expenseSales discountsDividend reventneDelivery expenseDepreciation of sales equipmentAmount1,578,50010,0006.000896,770100,000100,00062 0030%1352018.00031.15036,0008,78530.000RevenueIastructions:Prepare the income statement for the year 2019,

Accounting is the process of recording, classifying, and summarizing accounting information. On the…

The following infomation provided by ABC compaies. a of Deceaber31, 2019 Acconnts Tetal Sales Revme Travel expense (salespersons) Insarance espenes Cost of goods sold Sales comminsions Sales salaries Sales returns Tax rate Depreciation of office furninure and equpment interest expense Sales discounts Divadend revenne Delivery expenr Depreciation of sales equipment Amount 1578.500 10.000 6.000 896.770 100.000 100 000 62. 00 30 13.520 I8.000 31,150 3E.000 8.785 30.000 Iastrections Prepare the income statement for the year 2019.

The following infomation provided by ABC compaies. a of Deceaber31, 2019 Acconnts Tetal Sales Revme Travel expense (salespersons) Insarance espenes Cost of goods sold Sales comminsions Sales salaries Sales returns Tax rate Depreciation of office furninure and equpment interest expense Sales discounts Divadend revenne Delivery expenr Depreciation of sales equipment Amount 1578.500 10.000 6.000 896.770 100.000 100 000 62. 00 30 13.520 I8.000 31,150 3E.000 8.785 30.000 Iastrections Prepare the income statement for the year 2019.

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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