Question
Multiple-step income statement On March 31, 2019, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are
Multiple-step income statement On March 31, 2019, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $170,000 Accumulated Depreciation-Building 729,350 Administrative Expenses 532,850 Building 2,609,750 Cash 173,050 Common Stock 306,050 Cost of Goods Sold: 3,697,400 Dividends 182,350 Interest Expense Inventory Notes Payable Office Supplies Retained Earnings Salaries Payable Sales Selling Expenses Store Supplies 10,000 $976,700 326,350 20,250 1,240,750 8,050 6,636,900 740,000 93,600 a. Prepare a multiole-step income statement for the fiscal year ended March 31, 2019. Next
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