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Posted on Jul 13, 2024

CHAPTER 5 Accounting for Merchandising Activities em 3-6B Income statements-perpetual LOS FIGURES: 1 Operating expenses = $134,050, 2 Loss = $1650 the poing adjusted trial

CHAPTER 5 Accounting for Merchandising Activities em 3-6B Income statements-perpetual LOS FIGURES: 1 Operating expenses = $134,050, 2 Loss = $1650 the poing adjusted trial balance information was taken from the end of the July 31, 2020. fiscal year for Sales Debit Credit TOT TIS Cash Merchandise inventory Supplies Prepaid insurance Store equipment $ 6.500 12.220 2.400 1.150 29.400 165 156 Accumulated depreciation, store equipment 5 7.500 15.600 to TO 201 301 8.100 5.400 107.920 51.000 395,400 42 115 SOS Orice equipment Accumulated depreciation office equipment Accounts payable Ty Brillant capital Ty Brillant withdrawals See Sales discounts Cost of goods sold 612 Depreciation expense, store equipment 613 Depreciation expense, office equipment Ssles salaries expense Once sales expense Insurance expense, store 638 Insurance expense office 840 Rent expense, office space Rent expense, selling space 551 Office Supplies expense 652 Store supplies expense 655 Advertising expense Totats 522 637 1.200 251.800 1500 1.250 39.000 32.000 4.100 2.800 13.100 21 000 2.600 1.800 14.900 5525,320 $525,320 pliant Sales uses a perpetual inventory system. Ryuired 1. Prepare a classified multiple-step income statement for use by internal users (like Exhibit 5.13). 2. Prepare a multiple-step income statement for external users like Exhibit 5.14). 1 Prepare a single-step income statement (like Exhibit 5.15). CHAPTER 5 Accounting for Merchandising Activities em 3-6B Income statements-perpetual LOS FIGURES: 1 Operating expenses = $134,050, 2 Loss = $1650 the poing adjusted trial balance information was taken from the end of the July 31, 2020. fiscal year for Sales Debit Credit TOT TIS Cash Merchandise inventory Supplies Prepaid insurance Store equipment $ 6.500 12.220 2.400 1.150 29.400 165 156 Accumulated depreciation, store equipment 5 7.500 15.600 to TO 201 301 8.100 5.400 107.920 51.000 395,400 42 115 SOS Orice equipment Accumulated depreciation office equipment Accounts payable Ty Brillant capital Ty Brillant withdrawals See Sales discounts Cost of goods sold 612 Depreciation expense, store equipment 613 Depreciation expense, office equipment Ssles salaries expense Once sales expense Insurance expense, store 638 Insurance expense office 840 Rent expense, office space Rent expense, selling space 551 Office Supplies expense 652 Store supplies expense 655 Advertising expense Totats 522 637 1.200 251.800 1500 1.250 39.000 32.000 4.100 2.800 13.100 21 000 2.600 1.800 14.900 5525,320 $525,320 pliant Sales uses a perpetual inventory system. Ryuired 1. Prepare a classified multiple-step income statement for use by internal users (like Exhibit 5.13). 2. Prepare a multiple-step income statement for external users like Exhibit 5.14). 1 Prepare a single-step income statement (like Exhibit 5.15)