multiple-step income statement
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The adjusted trial balance of Pratt Company contained the following information:
Income Statement | ||
Debit | Credit | |
Sales | RM550,000 | |
Sales Returns and Allowances | RM 20,000 | |
Sales Discounts | 7,000 | |
Cost of Goods Sold | 366,000 | |
Freight-out | 2,000 | |
Advertising Expense | 15,000 | |
Interest Expense | 18,000 | |
Store Salaries Expense | 50,000 | |
Utilities Expense | 18,000 | |
Depreciation Expense | 7,000 | |
Interest Revenue | 25,000 | |
Instructions:
Use the above information to prepare a multiple-step income statement for the year ended December 31, 2007.
10 years ago
multiple-step income statement A+ Tutorial use as Guide
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- multiple-step_income_statement.xlsx