Question
At the end ofBlueDepartment Store's fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance. Freight-In$7,000Inventory40,600Purchases584,400Purchase Discounts6,800Purchase Returns and Allowances2,400Sales Revenue1,124,800Sales
At the end ofBlueDepartment Store's fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance.
Freight-In$7,000Inventory40,600Purchases584,400Purchase Discounts6,800Purchase Returns and Allowances2,400Sales Revenue1,124,800Sales Returns and Allowances21,100
Additional facts:
1.Merchandise inventory on November 30, 2020, is $50,300.2.BlueDepartment Store uses a periodic system.
Prepare an income statement through gross profit for the year ended November 30, 2020.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
BLUEDEPARTMENT STORE
Income Statement (Partial)
choose the accounting period
November 30, 2020
For the Month Ended November 30, 2020
For the Year Ended November 30, 2020
select an opening name for section one
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter an income statement item
$enter a dollar amount
select between addition and deduction
Less
Add
:
enter an income statement item
enter a dollar amount
select a closing name for section one
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter a total amount for section one
select an opening name for section two
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
select an income statement item
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
$
enter a dollar amount
enter an opening subsection name
$
enter a dollar amount
select between addition and deduction
Add
Less
:
enter an income statement item
$
enter a dollar amount
enter an income statement item
enter a dollar amount
enter a subtotal of the two previous amounts
select a closing subsection name
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter a total amount for this subsection
select between addition and deduction
Less
Add
:
enter an income statement item
enter a dollar amount
select a summarizing line for this part
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter a subtotal of the two previous amounts
select an income statement item
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter a total amount for the first part
select bewteen addition and deduction
Add
Less
:
select an income statement item
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenue
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
enter a dollar amount
select a closing name for section two
enter a total amount for section two
select a closing name for this part of the income statement
Drawings
Expenses
Net Income / (Loss)
Inventory, Dec. 1, 2019
Inventory, Nov. 30, 2020
Sales Revenues
Total Expenses
Total Revenues
Net Sales
Cost of Goods Sold
Net Purchases
Cost of Goods Purchased
Cost of Goods Available for Sale
Gross Profit
$
enter a total amount for this part of the income statement
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Introduction To Health Care Management
Authors: Sharon B. Buchbinder, Nancy H. Shanks
3rd Edition
9781284081015
