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im sorry this course has fried my brain. the questions that are blank are the ones i cant get right Meknioht Music stere Work Sheet
im sorry this course has fried my brain. the questions that are blank are the ones i cant get right
Meknioht Music stere Work Sheet Prepare an income statement. Net Sales Cost of Goods Sold: Purchases Less: Purchases Returns and Alowances Net Purchases Addi: Freinht in Delivered Cost of Purchases Cost of Goods Available for Sale. Less: Merchandise lnventory, DeC, 31,20 Cost of Goods sold Giross Prafit Operating Expenses: Wages Expense Bent Expense * Commissions Expense V Supples Expense V Insurance Expense v Depreciation Expense, Building v v Benreciation Exnense Enuinment Theck Wok Notice that the amounts for the beginning and ending merchandise inventory appear separately on the Income Summary line. These ty the difference between the two amounts. Each of the amounts in the Income Statement columns of the work sheet will be used in the Joumalize the closing entries. If an amount box does not require an entry, leave it blank. Closing Entries Sales Discounts V Purchases o v freghtin Woges Expense Rent Expense Commissions Expense Insurance Expense Homework Purchases Preght in Wages Expense Rent Expense Commisions Expense Supplies Expense v Depreciation Expense, Bulding interest Expense . Income Summary : I x W. J. McKnight, Capital * v W. J. McKnight, Copitel * W.). MeKnight Drawing * v Step by Step Solution
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