what is income statement? cash $14,785.00   A/R $100.00   Packing and office supplies $370.00   inventory $6,350.00   office forniture and equipment $1,100.00   AD:office furn and equipment   $31.00 A/P   $1,850.00 interest payable   $133.00 unearned revenue   $350.00 bank loan   $5,000.00 equity   $11,089.00 drawings $15.00   shoe sales revenue   $7,180.00 sales returns $120.00   cost of sales $500.00   online store expenses $650.00   shipping costs $1,199.00   interest expense $133.00   inventory shrink $150.00   depreciation expense $31.00   supplies expense $130.00     25,633 25,633

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

what is income statement?

cash $14,785.00  
A/R $100.00  
Packing and office supplies $370.00  
inventory $6,350.00  
office forniture and equipment $1,100.00  
AD:office furn and equipment   $31.00
A/P   $1,850.00
interest payable   $133.00
unearned revenue   $350.00
bank loan   $5,000.00
equity   $11,089.00
drawings $15.00  
shoe sales revenue   $7,180.00
sales returns $120.00  
cost of sales $500.00  
online store expenses $650.00  
shipping costs $1,199.00  
interest expense $133.00  
inventory shrink $150.00  
depreciation expense $31.00  
supplies expense $130.00  
  25,633 25,633
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Personal Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education