Homework Answers
| CRYSTAL COMPANY | ||
| Income Statement | ||
| For the year ended December 31, 2021 | ||
| Revenues: | ||
| Sales Revenue | $ 1,970,000.00 | |
| Interest Revenue | $ 12,000.00 | |
| Rent Revenue | $ 25,000.00 | |
| Total Revenues | $ 2,007,000.00 | |
| Expenses: | ||
| Cost of Good Sold | $ 850,000.00 | |
| Advertising Expense | $ 56,000.00 | |
| Depreciation Expense | $ 46,420.00 | |
| Frieght out | $ 24,000.00 | |
| Insurance Expense | $ 16,000.00 | |
| Salaries Expense | $ 660,000.00 | |
| Sales Discount | $ 9,700.00 | |
| Sales Return and Allowances | $ 59,000.00 | |
| Total Expenses | $ 1,721,120.00 | |
| Net opeerating Income | $ 285,880.00 | |
| Less: Interest expense | $ 10,600.00 | |
| Net Income | $ 275,280.00 |
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Question 3 View Policies Current Attempt in Progress laborations The following is information from Crystal Company's...
The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit...
The following is information from Crystal Company's adjusted trial balance at December 31, 2021: Debit Credit Cash Notes receivable $76,000 100,000 Merchandise inventory 69,000 435,400 Equipment Accumulated depreciation-equipment $130,620 Unearned revenue 7,500 Notes payable 143,620 L. Crystal, capital 240,000 L. Crystal, drawings 142,000 Interest revenue 12,000 Rent revenue 25,000 1.970,000 Sales Advertising expense 53,000 Cost of goods sold 860,000 Depreciation expense 43,540 Freight out 27,000 Insurance expense 16,000 10,500 Interest expense Salaries expense 630,000 9,300 Sales discounts Sales returns and...
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prepare income statement ting tes Question 3 View Policies Current Attempt in Progress These financial statement...
prepare income statement
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prepare income statement
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