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.. .. .. .. 2- Prepare Income statement and Balance Sheet of Cotton Department Store Company given below: Interest income 100.000-TL Cost of goods sold
.. .. .. .. 2- Prepare Income statement and Balance Sheet of Cotton Department Store Company given below: Interest income 100.000-TL Cost of goods sold 300-TL each unit Building 3.000.000-TL Short Term Loan 900.000-TL Depreciation of term 200.000-TL Interest Expenses 400.000-TL Inventory 6.000.000-TL Capital 500.000-TL Cash 600.000-TL Advertising 400.000-TL Vehicles 500.000-TL Salaries 250.000-TL Long Term Bank Credit 5.000.000-TL Rent 200.000-TL Accounts Receivable 500.000-TL Accumulated Depreciation 500.000-TL Utilities 150.000-TL Sales 400- TL*42.000 units Return from sales 2.000 units Bank Account 400.000- TL Account Payable 1.600.000-TL Profit of year XXXXXXXX-TL Tax payable XXXXXXX-TL Corporate Income Tax Rate : 20% Hint: First prepare Income Statement. Because you will need outcomes of income statement while preparing Balance Sheet. You may use some of the amounts mentioned above both at the income statement and balance sheet
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