Homework Answers
| FURLOW COMPANY | ||
| Income Statement | ||
| For the Month Ended March 31,2015 | ||
| Sales | ||
| Sales revenue | 392890 | |
| Less: | ||
| Sales Discounts | 7630 | |
| Sales Returns and Allowances | 13210 | |
| 20840 | ||
| Net sales | 372050 | |
| Cost of goods sold | 226520 | |
| Gross profit | 145530 | |
| Operating Expenses | ||
| Freight Out | 6090 | |
| Insurance Expense | 5460 | |
| Salaries and wages expense | 58130 | |
| Rent Expense | 30290 | |
| Total Operating Expenses | 99970 | |
| Operating Income | 45560 | |
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Presented below is information for Furlow Company for the month of March 2015. Cost of goods...
5.9 Presented below is information for Furlow Company for the month of March 2015 Cost of...
5.9 Presented below is information for Furlow Company for the month of March 2015 Cost of goods sold $212,000 Rent expense US $ 32,000 Freight-out 7,000 Sales discounts 8,000 Insurance expense 6,000 Sales returns and allowances 13,000 Salaries and wages expense 58,000 Sales revenue 380,000 Instructions (a) Prepare a multiple-step income statement. (b) Compute the gross profit rate.
Presented below is information for Zales Company for the month of January 2017. Cost of goods...
Presented below is information for Zales Company for the month of January 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $35,000 8,000 12,000 Sales returns and allowances 13,000 421,000 $280,000 Rent expense 7,000 Sales discounts 42,000 Sales revenue Prepare a multiple-step income statement. ZALES COMPANY Income Statement For the Month Ended January 31, 2017
Presented below is information for Swifty Company for the month of March 2020. Cost of goods...
Presented below is information for Swifty Company for the month
of March 2020. Cost of goods sold $218,520 Rent expense $30,370
Freight-out 6,450 Sales discounts 7,050 Insurance expense 5,410
Sales returns and allowances 12,910 Salaries and wages expense
58,680 Sales revenue 386,090.
----> Compute the gross profit rate. (Round
answer to 2 decimal places, e.g. 25.20%.)
Gross profit rate
%
We were unable to transcribe this imageSWIFTY COMPANY Income Statement For the Month Ended March 31, 2020 Sales Sales Revenue...
Presented below is information for Concord Company for the month of March 2020. Cost of goods...
Presented below is information for Concord Company for the month
of March 2020.
Cost of goods sold
$221,920
Rent expense
$33,370
Freight-out
6,410
Sales discounts
8,470
Insurance expense
5,440
Sales returns and allowances
12,520
Salaries and wages expense
55,970
Sales revenue
390,680
CONCORD COMPANY Income Statement We were unable to transcribe this image
E5.9 (LO 5) Financial Statement Presented below is information for Kaila Company for the month of...
E5.9 (LO 5) Financial Statement Presented below is information for Kaila Company for the month of March 2020. Cost of goods sold $215,000 Rent expense $ 30,000 Freight-out 7,000 Sales discounts 8,000 Insurance expense 6,000 Sales returns and allowances 13,000 Salaries and wages expense 58,000 Sales revenue 380,000 Instructions a. Prepare a multiple-step income statement b. Compute the gross profit rate.
Presented below is information for Sunland Co. for the month of January 2022. Cost of goods...
Presented below is information for Sunland Co. for the month of January 2022. Cost of goods sold $34,600 Freight-out 8.800 $211,900 Rent expense 9,800 Sales discounts 13,900 Sales returns and allowances 61.800 Sales revenue Insurance expense 17,100 Salaries and wages expense 394,000 Income tax expense 5.800 Other comprehensive income (net of $400 tax) 2.000 Prepare an income statement using the multiple-step format. SUNLAND CO. Income Statement
Presented below is information for Ivanhoe Co. for the month of January 2022. Cost of goods...
Presented below is information for Ivanhoe Co. for the month of January 2022. Cost of goods sold $210,700 Rent expense $33,500 Freight-out 9,200 Sales discounts 8,000 Insurance expense 14,700 Sales returns and allowances 18,400 Salaries and wages expense 63,000 Sales revenue 398,000 Income tax expense 5,400 Other comprehensive income (net of $400 tax) 2,000 Your answer is correct. Prepare an income statement using the multiple-step format. IVANHOE CO. Income Statement For the Month Ended January 31, 2022 4 Sales Sales...
QUESTION 12 Presented below is information for Zales Company for the month of January 2014 Cost...
QUESTION 12 Presented below is information for Zales Company for the month of January 2014 Cost of goods sold $280,000 Freight-out 7,000 Insurance expense 12,000 Salaries and wages expense 42,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $35,000 8,000 13,000 421,000 Instructions (a) Prepare a multiple-step income statement. (b) Calculate the profit margin and the gross profit rate.
Presented below is information for Kingbird, Inc. for the month of March 2019. $212,500 Rent expense...
Presented below is information for Kingbird, Inc. for the month of March 2019. $212,500 Rent expense $32,460 Cost of goods sold Freight-out 6,490 7,740 Sales discounts Sales returns and allowances Insurance expense 5,570 12,990 Salaries and wages expense 55,700 Sales revenue 386,050 Prepare a multiple-step income statement. If there is a net loss then enter the amount using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) Kingbird, Inc. Income Statement Kingbird, Inc. Income Statement $ $...
S Exercise 5-07 (Part Level Submission) Presented below is information for Crane Co. for the month...
S Exercise 5-07 (Part Level Submission) Presented below is information for Crane Co. for the month of January 2022. Cost of goods sold $217,400 Rent expense Freight-out 7,500 Sales discounts Insurance expense 13,800 Sales returns and allowances Salaries and wages expense 61,400 Sales revenue Income tax expense 4,100 Other comprehensive income (net of $400 tax) $34,200 9,200 17,700 390,000 Study. 2,000 (a) Your answer is partially correct. Try again. Prepare an income statement using the multiple-step format. CRANE CO. Income...
5.9 Presented below is information for Furlow Company for the month of March 2015 Cost of goods sold $212,000 Rent expense US $ 32,000 Freight-out 7,000 Sales discounts 8,000 Insurance expense 6,000 Sales returns and allowances 13,000 Salaries and wages expense 58,000 Sales revenue 380,000 Instructions (a) Prepare a multiple-step income statement. (b) Compute the gross profit rate.
Presented below is information for Zales Company for the month of January 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $35,000 8,000 12,000 Sales returns and allowances 13,000 421,000 $280,000 Rent expense 7,000 Sales discounts 42,000 Sales revenue Prepare a multiple-step income statement. ZALES COMPANY Income Statement For the Month Ended January 31, 2017
Presented below is information for Swifty Company for the month
of March 2020. Cost of goods sold $218,520 Rent expense $30,370
Freight-out 6,450 Sales discounts 7,050 Insurance expense 5,410
Sales returns and allowances 12,910 Salaries and wages expense
58,680 Sales revenue 386,090.
----> Compute the gross profit rate. (Round
answer to 2 decimal places, e.g. 25.20%.)
Gross profit rate
%
We were unable to transcribe this imageSWIFTY COMPANY Income Statement For the Month Ended March 31, 2020 Sales Sales Revenue...
Presented below is information for Concord Company for the month
of March 2020.
Cost of goods sold
$221,920
Rent expense
$33,370
Freight-out
6,410
Sales discounts
8,470
Insurance expense
5,440
Sales returns and allowances
12,520
Salaries and wages expense
55,970
Sales revenue
390,680
CONCORD COMPANY Income Statement We were unable to transcribe this image
E5.9 (LO 5) Financial Statement Presented below is information for Kaila Company for the month of March 2020. Cost of goods sold $215,000 Rent expense $ 30,000 Freight-out 7,000 Sales discounts 8,000 Insurance expense 6,000 Sales returns and allowances 13,000 Salaries and wages expense 58,000 Sales revenue 380,000 Instructions a. Prepare a multiple-step income statement b. Compute the gross profit rate.
Presented below is information for Sunland Co. for the month of January 2022. Cost of goods sold $34,600 Freight-out 8.800 $211,900 Rent expense 9,800 Sales discounts 13,900 Sales returns and allowances 61.800 Sales revenue Insurance expense 17,100 Salaries and wages expense 394,000 Income tax expense 5.800 Other comprehensive income (net of $400 tax) 2.000 Prepare an income statement using the multiple-step format. SUNLAND CO. Income Statement
Presented below is information for Ivanhoe Co. for the month of January 2022. Cost of goods sold $210,700 Rent expense $33,500 Freight-out 9,200 Sales discounts 8,000 Insurance expense 14,700 Sales returns and allowances 18,400 Salaries and wages expense 63,000 Sales revenue 398,000 Income tax expense 5,400 Other comprehensive income (net of $400 tax) 2,000 Your answer is correct. Prepare an income statement using the multiple-step format. IVANHOE CO. Income Statement For the Month Ended January 31, 2022 4 Sales Sales...
QUESTION 12 Presented below is information for Zales Company for the month of January 2014 Cost of goods sold $280,000 Freight-out 7,000 Insurance expense 12,000 Salaries and wages expense 42,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $35,000 8,000 13,000 421,000 Instructions (a) Prepare a multiple-step income statement. (b) Calculate the profit margin and the gross profit rate.
Presented below is information for Kingbird, Inc. for the month of March 2019. $212,500 Rent expense $32,460 Cost of goods sold Freight-out 6,490 7,740 Sales discounts Sales returns and allowances Insurance expense 5,570 12,990 Salaries and wages expense 55,700 Sales revenue 386,050 Prepare a multiple-step income statement. If there is a net loss then enter the amount using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) Kingbird, Inc. Income Statement Kingbird, Inc. Income Statement $ $...
S Exercise 5-07 (Part Level Submission) Presented below is information for Crane Co. for the month of January 2022. Cost of goods sold $217,400 Rent expense Freight-out 7,500 Sales discounts Insurance expense 13,800 Sales returns and allowances Salaries and wages expense 61,400 Sales revenue Income tax expense 4,100 Other comprehensive income (net of $400 tax) $34,200 9,200 17,700 390,000 Study. 2,000 (a) Your answer is partially correct. Try again. Prepare an income statement using the multiple-step format. CRANE CO. Income...
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