Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare income statement from the following data b

Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000...

70.2K

Verified Solution

Question

Accounting

Prepare Income Statement from the following data
Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000 Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during the year 4,200,000 Furniture 1,500,000 Office Electricity bill 413,000 Accounts receiveables 654,000 Bank overdraft 421,000 Office rent 631,000 Factory rent 235,000 Cash in Hand 1,200,000 Cash Sales Made During the year 6,825,000 Cash at Bank 4,589,000 Inventory 2,595,000 Bill board Expenses 412,350 Labour Cost 658,000 Owner's equity 8,975,000 Sales Tax 756,000 other manufacturing expenses 978,000 interest on bank loan 745,000 Rent Received 1,250,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

In practice, a common way to value a share of stock when a company pays dividends...

Basic Math
1.2K views

Find the area of the surface correct to four decimal places by expressing the area in...

Physics
1.2K views

Topic 4: Echo Sounder and Speed Logs: According to your Knowledge, answer the following questions: a. In Echo...

Biology
1.2K views

Which sentence below is a good example of "Expository Writing"? A. The Amazon Rainforest has...

Physics
1.2K views

Illustration 12 The velocities of four molecules of a gas are 3 3 4 6...

Geometry
1.2K views

Which of the following statements about JK and JL is true 8 7 y 6...

Basic Math
1.2K views

To get from point A to point B, you must avoid walking through a pond....

Basic Math
1.2K views

Engineers must consider the diameters of heads when designing helmets. The company researchershave determined that...

Accounting
1.2K views

you and 18 your friends have decided to form an internet marketing consultanting.group need to...

Accounting
1.2K views

Areairest

Accounting
1.2K views

90 Points Fredman Company has a standard costing system and keeps all its costs up...

Accounting
1.2K views

Prepare a schedule for changes in the working capital from the Balance sheet data given...