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The following selected information is for Pharoah Company for the year ended January 31, 2021: Freight in Freight out Insurance expense Interest expense Merchandise inventory, beginning Merchandise inventory, ending O.G. Pogo, capital O.G. Pogo, drawings Purchases $6,500 7,000 12,000 6,000 61,500 42,000 105,000 42,000 211,000 Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue $12,000 16,400 20,400 60,900 2,500 323,000 14,000 20,400 4,500 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).)

The following selected information is for Pharoah Company for the year ended January 31, 2021: Freight in Freight out Insurance expense Interest expense Merchandise inventory, beginning Merchandise inventory, ending O.G. Pogo, capital O.G. Pogo, drawings Purchases $6,500 7,000 12,000 6,000 61,500 42,000 105,000 42,000 211,000 Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue $12,000 16,400 20,400 60,900 2,500 323,000 14,000 20,400 4,500 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).)

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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The following selected information is for Pharoah Company for the year ended January 31, 2021: Freight in Freight out Insurance expense Interest expense Merchandise inventory, beginning Merchandise inventory, ending O.G. Pogo, capital O.G. Pogo, drawings Purchases $6,500 7,000 12,000 6,000 61,500 42,000 105,000 42,000 211,000 Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue $12,000 16,400 ManRocke 20,400 60.900 2,500 323.000 14,000 20,400 4,500 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) PHAROAH COMPANY Income Statement Year Ended January 31, 2021 V
Transcribed Image Text:The following selected information is for Pharoah Company for the year ended January 31, 2021: Freight in Freight out Insurance expense Interest expense Merchandise inventory, beginning Merchandise inventory, ending O.G. Pogo, capital O.G. Pogo, drawings Purchases $6,500 7,000 12,000 6,000 61,500 42,000 105,000 42,000 211,000 Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue $12,000 16,400 ManRocke 20,400 60.900 2,500 323.000 14,000 20,400 4,500 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) PHAROAH COMPANY Income Statement Year Ended January 31, 2021 V
Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sales Revenues Sales Less : Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Merchandise Inventory Beginning v PHAROAH COMPANY Income Statement Year Ended January 31, 2021 hi
Transcribed Image Text:Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sales Revenues Sales Less : Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Merchandise Inventory Beginning v PHAROAH COMPANY Income Statement Year Ended January 31, 2021 hi
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