Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000 Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during
Prepare Income Statement from the following data Building 5,400,000 Distribution expenses 600,000 Sales Return 900,000 Office equipments 1,250,000 Material Cost 879,000 Credit Sales made during the year 4,200,000 Furniture 1,500,000 Office Electricity bill 413,000 Accounts receiveables 654,000 Bank overdraft 421,000 Office rent 631,000 Factory rent 235,000 Cash in Hand 1,200,000 Cash Sales Made During the year 6,825,000 Cash at Bank 4,589,000 Inventory 2,595,000 Bill board Expenses 412,350 Labour Cost 658,000 Owner's equity 8,975,000 Sales Tax 756,000 other manufacturing expenses 978,000 interest on bank loan 745,000 Rent Received 1,250,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started