what is income statement?cash$14,785.00 A/R$100.00 Packing and office supplies$370.00 inventory$6,350.00 office forniture and equipment$1,100.00 AD:office furn and equipment $31.00A/P $1,850.00interest payable $133.00unearned revenue $350.00bank loan $5,000.00equity $11,089.00drawings$15.00 shoe sales revenue $7,180.00sales returns$120.00 cost of sales$500.00 online store expenses$650.00 shipping costs$1,199.00 interest expense$133.00 inventory shrink$150.00 depreciation expense$31.00 supplies expense$130.00 25,63325,633

Income statement: It is one of the financial statements prepared by an organization. This statement…

Answered: what is income statement? cash…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 35E: Jarem Company showed 189,000 in prepaid rent on December 31, 20X1. On December 31, 20X2, the balance...

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what is income statement?

cash	$14,785.00
A/R	$100.00
Packing and office supplies	$370.00
inventory	$6,350.00
office forniture and equipment	$1,100.00
AD:office furn and equipment		$31.00
A/P		$1,850.00
interest payable		$133.00
unearned revenue		$350.00
bank loan		$5,000.00
equity		$11,089.00
drawings	$15.00
shoe sales revenue		$7,180.00
sales returns	$120.00
cost of sales	$500.00
online store expenses	$650.00
shipping costs	$1,199.00
interest expense	$133.00
inventory shrink	$150.00
depreciation expense	$31.00
supplies expense	$130.00
	25,633	25,633

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