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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 expense accounts numbered 611-615
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 Income Summary 401 sales 451 Salon Hotuens and allowances Interest Tacone 501 Purchase 502 Freight in 503 Purchaus Returns and Allowances SO Purchases Discounts sales salaries Expenne 613 Mdvertising Expense 615 Travel Expande 621 orice salaries expense 623 ottice supplies Expense Utilities Expense 627 Payroll Tax Expense Uncollectible Necounts Expense 631 Depreciation Experie - oft.co Yuipment 691 Interest Expense ADJUSTED TRIAL BALANCE DEBIT CREDIT 76,000 55,500 420,000 5,600 920 210,000 4,700 3,300 3,600 71,000 3.800 13,200 20,000 920 6.200 3,200 1.520 720 3,300 Prepare a classified Income statement for the year ended December 31, 2019, MORGAN COMPANY Income Stament Year Ended December 31, 2010 $ Operating revenue Sales Less Sales returns and allowance Net als Cost of goods sold 414.400 5.600 400 800 Delivered cost of purchases 0 0 Net delivered cost of purchases Total merchandise available for sale 0 $ 0 0 $ 408,800 Operating expenses Selling expenses Total selling expenses General and administrative expenses $ 0 $ 0 Total general and administrative expenses Total operating expenses Net income from operations 0 $ 408,800 Selling expenses 0 Total selling expenses General and administrative expenses 0 Total general and administrative expenses Total operating expenses Net income from operations, Other income $ 408,800 Other expense Net non-operating expenses 0 408 800 S
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