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The Fun Zone sells a variety of children’s toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2024.   Sales revenue $ 74,800 Inventory (March 31, 2024) $ 1,200 Advertising expense 5,900 Insurance expense 2,050 Rent expense 3,800 Sales discounts 2,750 Gain on sale of building 7,000 Salaries expense 8,900 Inventory (March 1, 2024) 2,550 Income tax expense 3,700 Cost of goods sold 35,550

The Fun Zone sells a variety of children’s toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2024.   Sales revenue $ 74,800 Inventory (March 31, 2024) $ 1,200 Advertising expense 5,900 Insurance expense 2,050 Rent expense 3,800 Sales discounts 2,750 Gain on sale of building 7,000 Salaries expense 8,900 Inventory (March 1, 2024) 2,550 Income tax expense 3,700 Cost of goods sold 35,550

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 Fun Zone sells a variety of children’s toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2024.

 

Sales revenue $ 74,800 Inventory (March 31, 2024) $ 1,200
Advertising expense 5,900 Insurance expense 2,050
Rent expense 3,800 Sales discounts 2,750
Gain on sale of building 7,000 Salaries expense 8,900
Inventory (March 1, 2024) 2,550 Income tax expense 3,700
Cost of goods sold 35,550  
THE FUN ZONE Multiple-Step Income Statement For the Month of March, 2024 Net sales: Total sales revenue Net sales revenue Operating expenses: Total Operating income
Transcribed Image Text:THE FUN ZONE Multiple-Step Income Statement For the Month of March, 2024 Net sales: Total sales revenue Net sales revenue Operating expenses: Total Operating income
Operating income Nonoperating items: Total
Transcribed Image Text:Operating income Nonoperating items: Total
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