LAS Corporation shows the following accounting record for sales commissions 15,000 beginning merchandise inventory 16, 000 ending merchandise inventroy 9, 000 sales 185, 000 advertising 10, 000 purchase of merchandise 85, 000 employees salaries 20, 000 other operating expenses 30,000 1. Prepare income statement SAC corporation shows the following accounting records land 50, 000 accounts payable 2, 200 cash 10, 000 material inventory 474 accumulated depreciation (60 000) accounts receivable 9, 500 finsihed goods inventory 3, 280 common stock, no par 70, 000 retained earnings 37, 054 income tax payable 4, 000 building and equipments 100, 000 2. prepare a balance sheet
LAS Corporation shows the following accounting record for sales commissions 15,000 beginning merchandise inventory 16, 000 ending merchandise inventroy 9, 000 sales 185, 000 advertising 10, 000 purchase of merchandise 85, 000 employees salaries 20, 000 other operating expenses 30,000 1. Prepare income statement SAC corporation shows the following accounting records land 50, 000 accounts payable 2, 200 cash 10, 000 material inventory 474 accumulated depreciation (60 000) accounts receivable 9, 500 finsihed goods inventory 3, 280 common stock, no par 70, 000 retained earnings 37, 054 income tax payable 4, 000 building and equipments 100, 000 2. prepare a balance sheet
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...
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LAS Corporation shows the following accounting record for
sales commissions 15,000
beginning merchandise inventory 16, 000
ending merchandise inventroy 9, 000
sales 185, 000
advertising 10, 000
purchase of merchandise 85, 000
employees salaries 20, 000
other operating expenses 30,000
1. Prepare income statement
SAC corporation shows the following accounting records
land 50, 000
accounts payable 2, 200
cash 10, 000
material inventory 474
accumulated depreciation (60 000)
accounts receivable 9, 500
finsihed goods inventory 3, 280
common stock, no par 70, 000
retained earnings 37, 054
income tax payable 4, 000
building and equipments 100, 000
2. prepare a balance sheet
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