QI:The following information provided by ABC companies. as of December31, 2019АсcountsTotal Sales RevenueTravel expense (salespersons)Insurance expensesCost of goods soldSales commissionsSales salariesAmount1,578,50010,0006,000896,770100,000100,00062,30030%Sales returnsTax rateDepreciation of office furniture and equipmentinterest expenseSales discountsDividend revenue13,52018,00031,15038,0008,78530,000Delivery expenseDepreciation of sales equipmentInstructions:Prepare the income statement for the year 2019.

Name: QI:The following information provided by ABC companies. as of Decembe
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Description: QI:The following information provided by ABC companies. as of December31, 2019АсcountsTotal Sales RevenueTravel expense (salespersons)Insurance expensesCost of goods soldSales commissionsSales salariesAmount1,578,50010,0006,000896,770100,000100,0006

Formula: Net income = Revenues - Expenses.

Business

Accounting

The following information provided by ABC companies. as of December31, 2019 Ассounts Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold Sales commissions Sales salaries Sales returns Amount 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 2007

The following information provided by ABC companies. as of December31, 2019 Ассounts Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold Sales commissions Sales salaries Sales returns Amount 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 2007

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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