Pharoah Company had the following account balances: Sales revenue $ 447000 Cost of goods sold 210000 Salaries and wages expense 30500 Depreciation expense 59500 Dividend revenue 10000 Utilities expense 22000 Rent revenue 58500 Interest expense 35500 Sales returns and allow. 33500 Advertising expense 38000 What would Pharoah report as total expenses in a single-step income statement? $429k $185500 $405500 $395500
Pharoah Company had the following account balances: Sales revenue $ 447000 Cost of goods sold 210000 Salaries and wages expense 30500 Depreciation expense 59500 Dividend revenue 10000 Utilities expense 22000 Rent revenue 58500 Interest expense 35500 Sales returns and allow. 33500 Advertising expense 38000 What would Pharoah report as total expenses in a single-step income statement? $429k $185500 $405500 $395500
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter4: Accounting For Retail Operations
Section: Chapter Questions
Problem 4.18E: Multiple-step income statement On March 31, 20Y5, the balances of the accounts appearing in the...
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Pharoah Company had the following account balances:
Sales revenue | $ 447000 |
Cost of goods sold | 210000 |
Salaries and wages expense | 30500 |
59500 | |
Dividend revenue | 10000 |
Utilities expense | 22000 |
Rent revenue | 58500 |
Interest expense | 35500 |
Sales returns and allow. | 33500 |
Advertising expense | 38000 |
What would Pharoah report as total expenses in a single-step income statement?
- $429k
- $185500
- $405500
- $395500
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