How would the income statement be for nov? The lists are options that should be in the boxes and I had given a picture of what options are in the boxes with an arrow icon on it. The short boxes with the arrow have options: -Add -Less.
Prepare a multiple-step income statement for November. TEAL MOUNTAIN INC. Income Statement 69 v $Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Administrative Expenses Advertising Expense Amortization Expense Buildings Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends Equipment Freight-In Freight-Out Gain on Disposal of Plant Assets Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Interest PayableDashboard x _ Spr21 ACCT 001A #30004 FINAN x Grades for Valerie Phanvongkhar x Midterm-Accounting Cycle Revie X NWP Assessment Player UI Appli X + X - > C A assessment.education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=85b28c3b-4c2a-4657-bb7f-42793ecf3f6e#/question/0 - Midterm-Accounting Cycle Review Question 1 of 1 0.51 / 1 Interest Expense Interest Payable Interest Revenue Inventory Land Loss on Disposal of Plant Assets Maintenance and Repairs Expense Mortgage Payable No Entry Notes Payable Prepaid Insurance Purchase Discounts Purchase Returns and Allowances Purchases Rent Expense Rent Revenue Research and Development Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Salas Revenue Type here to search O 10:24 PM 4/4/2021Purchase Discounts Purchase Returns and Allowances Purchases Rent Expense Rent Revenue Research and Development Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Discounts Sales Returns and Allowances Sales Revenue Service Revenue Supplies Supplies Expense Unearned Service Revenue Utilities Expense Website Save for Later Last saved 4 minutes ago. Attempts: 0 of 4 used Submit AnswerPart 6 Prepare a multiple-step income statement for November. TEAL MOUNTAIN INC. Income Statement Net Sales Dividends Expenses Gross Profit Income Before Income Taxes 69 Income From Operations Net Income / (Loss) Net Sales Other Expenses and Losses Other Revenues and Gains Retained Earnings, November 1 Retained Earnings, November 30 Revenues Total Expenses Total Revenues Sales $On November 1, 2017, Teal Mountain Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $10,440 Accumulated Depreciation-Equipment $1,160 Accounts Receivable 2,598 Accounts Payable 3,944 Supplies 998 Unearned Service Revenue 4,640 Equipment 29,000 Salaries and Wages Payable 1,972 $43,036 Common Stock 23,200 Retained Earnings 8,120 $43,036 During November, the following summary transactions were completed. Nov. 8 Paid $4,118 for salaries due employees, of which $2,146 is for November and $1,972 is for October. 10 Received $2,204 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $9,280, terms 2/10, n/30. 12 Sold merchandise on account for $6,380, terms 2/10, n/30. The cost of the merchandise sold was $4,640. 15 Received credit from Dimas Discount Supply for merchandise returned $348. 19 Received collections in full, less discounts, from customers billed on sales of $6,380 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $2,668 cash for services performed in November. 25 Purchased equipment on account $5,800. 27 Purchased supplies on account $1,972. 28 Paid creditors $3,480 of accounts payable due. 29 Paid November rent $435. 29 Paid salaries $1,508. 29 Performed services on account and billed customers $812 for those services. 29 Received $783 from customers for services to be performed in the future
