The following is the adjusted trial balance data for Nino’s Pizzeria as of December 31, 2019.Prepare a simple income statement for the year ended December 31, 2019.Prepare a multi-step income statement for the year ended December 31, 2019. NINO'S PIZZERIAAdjusted Trial BalanceYear Ended December 31, 2019DebitCredit$ 775,98445,688CashAccounts ReceivableBuildingsMerchandise Inventory200,460135,624Accounts Payable$437,880Common Stock410,542Sales555,696Interest Revenue84,652Rent Revenue00Sales Salaries ExpenseOffice Supplies Expense24,5006,270Sales Discounts102,890Interest Expense4,577Sales Returns and Allowances105,854Cost of goods soldRent ExpenseDepreciation Expense: Office EquipmentInsurance ExpenseAdvertising ExpenseTotals122,85320,00010,5552,78017,635$1,575,670$1,575,670

Income statement is one of the financial statement of business, which shows all incomes and all…

The following is the adjusted trial balance data for Nino’s Pizzeria as of December 31, 2019. Prepare a simple income statement for the year ended December 31, 2019. Prepare a multi-step income statement for the year ended December 31, 2019.

The following is the adjusted trial balance data for Nino’s Pizzeria as of December 31, 2019. Prepare a simple income statement for the year ended December 31, 2019. Prepare a multi-step income statement for the year ended December 31, 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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