Question
The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30, 2023. Adjusted Trial Balance Account
The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30, 2023.
Adjusted Trial
Balance
Account
Debit
Credit
201
Accounts payable
850
106
Accounts receivable
166
Accumulated depreciation, store equipment
1,300
101
Cash
5,600
2,600
502
Cost of goods sold
15,800
612
Depreciation expense, store equipment
130
301
Peter Delta, capital
4.550
302
Peter Delta, withdrawals
5,600
406
Rent revenue
30.500
413
Sales
415
Sales discounts
50
414
Sales returns and allowances
820
165
Store equipment
8.200
690
Utilities expense
3.100
623
Wages expense
7.300
Totals
44.900
S
44.900
Required:
Prepare a multiple-step income statement for the month ended November 30, 2023.
Analysls component:
Assume that for the month ended October 31, 2023, net sales were $39,000, cost of goods sold was $26,200, and income from operations was $9,000. Calculate the company's gross profit ratlos for October and November. (Do not round Intermediete calculations. Round your final enswers to 2 decimal places.)
Gross Profit
October
%
November
%
The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30, 2023.
| Adjusted Trial Balance |
| Account Debit Credit |
201 | Accounts payable 850 |
106 | Accounts receivable |
166 | Accumulated depreciation, store equipment 1,300 |
101 | Cash 5,600 2,600 |
502 | Cost of goods sold 15,800 |
612 | Depreciation expense, store equipment 130 |
301 | Peter Delta, capital 4.550 |
302 | Peter Delta, withdrawals 5,600 |
406 | Rent revenue 30.500 |
413 | Sales |
415 | Sales discounts 50 |
414 | Sales returns and allowances 820 |
165 | Store equipment 8.200 |
690 | Utilities expense 3.100 |
623 | Wages expense 7.300 |
| Totals 44.900 S 44.900 |
Required:
Prepare a multiple-step income statement for the month ended November 30, 2023.
Analysls component:
Assume that for the month ended October 31, 2023, net sales were $39,000, cost of goods sold was $26,200, and income from operations was $9,000. Calculate the company's gross profit ratlos for October and November. (Do not round Intermediete calculations. Round your final enswers to 2 decimal places.)
| Gross Profit |
|
October |
| % |
November |
| % |
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