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
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 |
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
Transcribed Image Text:Operating income
Nonoperating items:
Total
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