Exercise 5 9 (Part Level Submission) Presented below is information for Bach Company for the month of March 2014 Cost of goods sold $218,140 Rent expense $32,880 Freight out 8,400 Sales discounts 6,950 Insurance expense 5,320 Sales returns and allowances 12,480 Salaries and wages expense 57,990 Sales revenue 393,810 (a) Prepare a multiple step income statement BACH COMPANY Income Statement For the Month Ended March 31, 2014 DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $ LessAdd $ DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses DividendsNet Income (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

Exercise 5-9 (Part Level Submission) Presented below is information for Bach Company for the month of March 2014.

Cost of goods sold	$218,140	Rent expense	$32,880
Freight-out	8,400	Sales discounts	6,950
Insurance expense	5,320	Sales returns and allowances	12,480
Salaries and wages expense	57,990	Sales revenue	393,810

(a) Prepare a multiple-step income statement.

BACH COMPANY Income Statement For the Month Ended March 31, 2014
DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
	$
LessAdd:
	$


DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses

DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses




DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses	$