Question

Instructions The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold Commercial Division $912,000 Residential Division 439,875 Administrative expenses Commercial Division $149,400 Residential Division 129,575 Service department charges:. Commercial Division $113,760 Residential Division 67,830 Sales Commercial Division $1,364,500 Residential Division 750,060 Prepare divisional income statements for Jersey Coast Construction Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.

Answer 1

JERSEY COAST CONSTRUCTION COMPANY Divisional Income Statements For the Year Ended June 30, 2048 Commercial Residential Division Division Sales $ 13,64,500 $ 7,50,060 Less: Cost of Goods Sold $ -9,12,000 $-4,39,875 Gross Profit $ 4,52,500 $ 3,10,185 Less: Expenses Administrative Expenses $ 1,49,400 $ 1,29,575 Service Department Charges $ 1,13,760 $ 67,830 Total Expenses $ 2,63,160 $ 1,97,405 Operatin Income $ 1,89,340 $ 1,12,780