Question

Divisional income statements Instructions Amount Descriptions | Divisional Income Statements 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 Residential Division $916.000 445 950 Administrative expenses Commercial Division $150 600 Residential Division 128,800 Service department charges Commercial Division Residential Division $113,400 68 700 Sales: $1,362,000 Commercial Division Residential Division Prepare divisional income statements for Jersey Coast Construction Company Refer Amount Descriptions list provided for the exact wording of the answer choices for text entries Amount Descriptions Amount Descriptions Administrative expenses Cost of goods sold Gross profit Income from operations Income from operations before service department charges Sales Selling expenses Service department charges Transportation expenses

Answer 1

Particular	Commercial Division	Residual Division
Sales	$1,362,000	$747,020
Cost of Goods Sold	$916,000	$445,950
Gross Profit	$446,000	$301,070
Operating Expenses
Selling Expenses	$0	$0
Administrative Expenses	$150,600	$128,800
Income from Operation before service department charge	$295,400	$172,270
Service department charges	$113,400	$68,700
Income From Operation	$182,000	$103,570