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the adjusted trial balance data given below is from the Morgan Company's worksheet for the year ended December 31, 2019 The adjusted trial balance data
the adjusted trial balance data given below is from the Morgan Company's worksheet for the year ended December 31, 2019
The adjusted trial balance data given below is from the Morgan Company's worksheet for the year ended December 31, 2019. The expense accounts numbered 611-615 represent selling expenses, and those numbered 621-631 represent general and administrative expenses . NO ACCOUNT NAME 399 Incone Summary 401 Sales 451 Sales Returns and Allowances 491 Interest Income S01 Purchases 502 Freight In 583 Purchases Returns and Allowances 564 Purchases Discounts 611 Sales Salaries Expense 613 Advertising Expense 615 Travel Expense 621 Office Salaries Expense 623 office Supplies Expense 625 Utilities Expense Payroll Taxes Expense 629 Unicollectible Accounts Expense 631 Depreciation Expense Office Equipsent 691 Interest Expense ADJUSTED TRIAL BALANCE DEBIT CREDIT 78,000 66,500 440,000 5,800 940 220,000 4.900 3,500 3,800 73,000 4,000 13,400 20,200 940 6.400 5.400 1,500 740 3.500 Prepare a classified income statement for the year ended December 31, 2019 MORGAN COMPANY Income Statement Year Ended December 31, 2019 MORAN COMPANY Income Statement Your End December 2010 Operating revenue Net sales Cost of goods sold Delivered cost of purchases + Net delivered cost of purchases Total merchandise available for sale Operating expenses Selling expenses Total Soling expenses General and administrative expenses Net delivered cost of purchases Total merchandise available for sale Operating expenses Selling expenses Total selling expenses General and administrative expenses + Total general and administrative expenses Total operating expenses Net income from operations Other income Other expense Net non-operating expenses Step by Step Solution
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