Question
The adjusted trial balance of Cullumber Company shows these data pertaining to sales at the end of its fiscal year, October 31, 2017: Sales Revenue
The adjusted trial balance of Cullumber Company shows these data pertaining to sales at the end of its fiscal year, October 31, 2017: Sales Revenue $906,700; Freight-Out $14,200; Sales Returns and Allowances $19,500; and Sales Discounts $14,000. Prepare the sales section of the income statement.
CULLUMBER COMPANY Income Statement (Partial) For the Month Ended October 31, 2017For the Year Ended October 31, 2017October 31, 2017 | ||
Total ExpensesRetained Earnings, November 1, 2016Total RevenuesDividendsExpensesRetained Earnings, October 31, 2017Net SalesSalesNet Income / (Loss) | ||
$ | ||
AddLess : | ||
$ | ||
Retained Earnings, October 31, 2017SalesRetained Earnings, November 1, 2016ExpensesTotal RevenuesTotal ExpensesNet SalesNet Income / (Loss)Dividends | $ |
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