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mos of the numbers are wrong can u fix them Eosiey. Hra omce Equipment sells furniture and technology solutions to consumers and to businesses. Most
mos of the numbers are wrong can u fix them
Eosiey. Hra omce Equipment sells furniture and technology solutions to consumers and to businesses. Most consumers pay for their purchases with credit cards and business customers make purchases on open account with terms 1/10 net 30. Costs of future nventory purchases have generally been ting and costs of computer inventory purchases have generally been dedining. The company income tax rate is 20% Casey Easley, the general manager was particularly interested in the financial statement effects of the following facts related to instarter operations 1. Credit card sales discourt 2) were $39.500 b. Soles on account were $118.000. The company expects one half of the accounts to be paid within the discount period c. The company computed cost of goods sold for the transactional and above ander FO and UFO for its two product lines and chose the method for each product that minimtes income te FIFO LIFO Furniture $28.800 $31.800 Computer equipment 33.800 29.800 d. During the period, the company wrote of $1.380 worth of bad debts . At the end of the period, the company estimated that 1.5% of gross sales on account would prove to be uncollectie Costs to deliver fumiture to customers were $6.800 o Rent utilities salaries, and other operating expenses were $23.000 A me end of the period, the company discovered that the net realizable valor of eeting inventory was $1160 lax than ariginat Cost Required: Complete the fobowing table, indicating the effects of each transaction on each income statement in item or subtotalsted indicate the amount and use a minus sign for a decrease leave the space link for nomectin Rember that any item that affects revenues or expenses also affects Income Tax Expense by the amount of the revence or expense times the income tax rate When you are consum Scross the columns to produce Eastey Haro income statement for the quarter Traction 587101 117410 1500 . RO 1.000 30 300 210001 Na Comofono Oms Meling and dative Income before incom come fare pe Nel Set 4 110 DO 13.000 OOTE MET 2002 OS Oy SER
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