Homework Answers
| Sunland Company | ||
| Income Statement - Partial | ||
| For the month ended October, 2017 | ||
| Revenue | ||
| Gross Sales ($310000 + $159900) | $ 4,69,900 | |
| Less: | ||
| Sales Discounts | $ 5,870 | |
| Sales Returns and allowances | $ 22,700 | |
| $ 28,570 | ||
| Net Sales | $ 4,41,330 | |
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Brief Exercise 5-5 Sunland Company provides this information for the month ended October 31, 2017: sales...
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales...
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales on credit $305,800; cash sales $156,000; sales discounts $5,160; and sales returns and allowances $23,490. Prepare the sales section of the multiple-step income statement based on this information. Pharoah Company Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work
Question 3 Sheridan Company provides this information for the month ended October 31, 2017: sales on...
Question 3 Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $302,700; cash sales $159,500; sales discounts $5,190; and sales returns and allowances $24,950. Prepare the sales section of the income statement based on this information. SHERIDAN COMPANY Income Statement (Partial) Click If you would like to Show Work for this question: Open Show Work
Wildhorse Co, provides this information for the month ended October 31, 2017: sales on credit $305,400,...
Wildhorse Co, provides this information for the month ended October 31, 2017: sales on credit $305,400, cash sales $154,300, sales discounts $5,130, and sales returns and allowances $23,660. Prepare the sales section of the income statement based on this information. WILDHORSE CO. Income Statement (Partial) For the Month Ended October 31, 2017 Sales Sales Returns and Allowances 23600 Sales Discounts 23600 Net Sales
Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $301,200;...
Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $301,200; cash sales $159,500; sales discounts $5,170; and sales returns and allowances $24,920. Prepare the sales section of the income statement based on this information.
Context: Barto Company provides this information for the month ended October 31, 2017: sales on credit...
Context: Barto Company provides this information for the month ended October 31, 2017: sales on credit $300,000, cash sales $150,000, sales discounts $5,000, and sales returns and allowances $19,000. Prepare the sales section of the income statement based on this information. Only this part: Explain where each of these items would appear on a multiple-step income statement: gain on disposal of plant assets, cost of goods sold, depreciation expense, and sales returns and allowances.
Brief Exercise 5-08 Splish Brothers Inc. provides the following information for the month ended October 31,...
Brief Exercise 5-08 Splish Brothers Inc. provides the following information for the month ended October 31, 2020; sales on credit $294,000, cash sales $103,500, sales discounts $6,600, and sales returns and allowances $10,300. Prepare the sales section of the income statement based on this information. Splish Brothers Inc. Income Statement (Partial) For the Month Ended October 31, 2020For the Year Ended October 31, 2020October 31, 2020 ExpensesRetained Earnings, October 1SalesNet Income / (Loss)Total ExpensesTotal RevenuesRetained Earnings, October 31Net SalesDividends $...
Sunland Company provides this information for the month of November, 2022: sales on credit $145,000; cash...
Sunland Company provides this information for the month of
November, 2022: sales on credit $145,000; cash sales $57,000; sales
discount $1,000; and sales returns and allowances $7,600.
Prepare the sales revenues section of the income statement based on
this information.
SUNLAND COMPANY
Income Statement (Partial)
For
the Year Ended November 30, 2022For the Month Ended November 30,
2022November 30, 2022
enter an income statement item
MAINLY NEED THIS PART I KNOW MAJORITY OF THE REST
$enter a dollar amount
select...
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash...
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash sales $70,000; sales discounts $2,000; and sales returns and allowances $9,000. Prepare the sales revenues section of the income statement based on this information. HOYT COMPANY Income Statement (Partial) For the Month Ended November 30, 2014 Sales Returns and Allowances $ $ $
The following selected information is for Sunland Company for the year ended January 31, 2021: Freight...
The following selected information is for Sunland Company for the year ended January 31, 2021: Freight in $6,500 Purchase discounts $12,000 Freight out 7,300 Purchase returns and allowances 16,100 Insurance expense 12,000 Rent expense 20,100 Interest expense 6,000 Salaries expense 60,500 Merchandise inventory, beginning 61,500 Salaries payable 2,500 Merchandise inventory, ending 42,000 Sales 325,000 O. G. Pogo, capital 105,000 Sales discounts 14,000 O. G. Pogo, drawings 42,200 Sales returns and allowances 20,100 Purchases 213,000 Unearned sales revenue 4,500 (a) Prepare...
Sunland Company Income Statement For the Year Ended December 31, 2017 $2,473,500 Service revenue Operating expenses,...
Sunland Company Income Statement For the Year Ended December 31, 2017 $2,473,500 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $1,565,700 140,250 40,800 1,746,750 726,750 142,800 $583,950 Sunland Company's balance sheet contained the comparative data at December 31 201 Accounts receivable Accounts payable Income taxes payable $178,500 104,550 33,150 $153,000 81,600 17,850 Accounts payable pertain to operating expenses. Sunland Company Partial Statement of Cash Flows...
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales on credit $305,800; cash sales $156,000; sales discounts $5,160; and sales returns and allowances $23,490. Prepare the sales section of the multiple-step income statement based on this information. Pharoah Company Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work
Question 3 Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $302,700; cash sales $159,500; sales discounts $5,190; and sales returns and allowances $24,950. Prepare the sales section of the income statement based on this information. SHERIDAN COMPANY Income Statement (Partial) Click If you would like to Show Work for this question: Open Show Work
Wildhorse Co, provides this information for the month ended October 31, 2017: sales on credit $305,400, cash sales $154,300, sales discounts $5,130, and sales returns and allowances $23,660. Prepare the sales section of the income statement based on this information. WILDHORSE CO. Income Statement (Partial) For the Month Ended October 31, 2017 Sales Sales Returns and Allowances 23600 Sales Discounts 23600 Net Sales
Sunland Company provides this information for the month of
November, 2022: sales on credit $145,000; cash sales $57,000; sales
discount $1,000; and sales returns and allowances $7,600.
Prepare the sales revenues section of the income statement based on
this information.
SUNLAND COMPANY
Income Statement (Partial)
For
the Year Ended November 30, 2022For the Month Ended November 30,
2022November 30, 2022
enter an income statement item
MAINLY NEED THIS PART I KNOW MAJORITY OF THE REST
$enter a dollar amount
select...
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash sales $70,000; sales discounts $2,000; and sales returns and allowances $9,000. Prepare the sales revenues section of the income statement based on this information. HOYT COMPANY Income Statement (Partial) For the Month Ended November 30, 2014 Sales Returns and Allowances $ $ $
Sunland Company Income Statement For the Year Ended December 31, 2017 $2,473,500 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $1,565,700 140,250 40,800 1,746,750 726,750 142,800 $583,950 Sunland Company's balance sheet contained the comparative data at December 31 201 Accounts receivable Accounts payable Income taxes payable $178,500 104,550 33,150 $153,000 81,600 17,850 Accounts payable pertain to operating expenses. Sunland Company Partial Statement of Cash Flows...
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