Multiple - Step income statement (Partial) |
||
Sales , Gross |
$300000 |
|
Less: Sales Return and Allowance |
($23000) |
|
Less: Sales Discount |
($6000) |
($29000) |
Net sales |
$271000 |
Note: Sales salary expense not deducted while calculating net sales.
Prepare the net sales portion only of this company’s multiple-step income statement. A company reports the...
Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related information. Sales, gross $ 245,000 Sales returns and allowances $ 20,000 Sales discounts 4,900 Sales salaries expense 10,900 Prepare the net sales portion only of this company’s multiple-step income statement. Multiple- Step Income Statement (partial) _________________________________ ______________ ______________ _________________________________ ______________ ______________ _________________________________ _______________ __________0____ Net Sales_________________________ _______________ ______________
Exercise 4-11 Net sales computation for multiple-step income statement LO P4 A company reports the following sales-related information. Sales, gross $ 250,000 Sales returns and allowances $ 21,000 Sales discounts 5,000 Sales salaries expense 11,000 Prepare the net sales portion only of this company’s multiple-step income statement.
A company reports the following sales-related information. Sales, gross Sales discounts $ 205,000 Sales returns and allowances 4,100 Sales salaries expense $ 12,000 10,100 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales
A company reports the following sales-related information. Sales, gross Sales discounts $ 290,000 Sales returns and allowances 5,800 Sales salaries expense $ 21,000 11,800 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales
A company reports the following sales-related information. Sales, gross $ Sales discounts 200,000 Sales returns and allowances $16,000 10,000 4,000 Sales salaries expense Prepare the net sales portion only of this company's multiple-step income statement Multiple-Step Income Statement (Partial) Net sales
Saved A company reports the following sales-related information. Sales, gross Sales discounts $ 215,000 Sales returns and allowances 4,300 Sales salaries expense $ 14,000 10,300 Prepare the net sales portion only of this company's multiple-step income statement. Multiple-Step Income Statement (Partial) Net sales
A company reports the following sales-related information. Sales, gross $ 240,000 Sales returns and allowances $ 19,000 Sales discounts 4,800 Sales salaries expense 10,800 Sales, gross $ 240,000 Sales returns and allowances $ 19,000 Sales discounts 4,800 Sales salaries expense 10,800 Prepare the net sales portion only of this company’s multiple-step income statement.
A company reports the following sales related information: Sales (gross) of $200,000 Sales discounts of $4,000; Sales returns and allowances of $16,000; Sales salaries expense of $10,000 Prepare the net sales portion of the company's multiple-step income statement Multiple-Step Income Statement
Sales, gross Sales discounts $ 265,000 Sales returns and allowances 5,300 Sales salaries expense $ 16,000 11,300 Prepare the net sales portion only of this company's multiple-step income statement.
Exercise 4-15 Preparing a multi-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment $ 6,190 Depreciation expense—Office copier $ 560 Office supplies expense 700 Sales discounts 16,900 Insurance expense 1,360 Sales returns and allowances 4,100 Sales 227,000 TV advertising expense 3,500 Office salaries expense 31,100 Interest revenue 650 Rent expense—Selling space 12,000 Cost of goods sold 88,700 Sales staff wages 23,800 Sales commission expense 13,600...