Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for Splish Brothers Corp. for the year ended December 31, 2022. Other revenues and gains $23,600 Other expenses and losses

The following information is available for Splish Brothers Corp. for the year ended December 31, 2022.

Other revenues and gains $23,600
Other expenses and losses 4,000
Cost of goods sold 291,000
Sales discounts 4,800
Sales revenue 759,000
Operating expenses 220,000
Sales returns and allowances 10,600

Prepare a multiple-step income statement for Splish Brothers Corp. The company has a tax rate of 25%.

SPLISH BROTHERS CORP. Income Statement choose the accounting period For the Year Ended December 31, 2022For the Month Ended December 31, 2022December 31, 2022

select an opening name for section one Net SalesNet Income / (Loss)Total ExpensesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Retained Earnings, January 1Other Revenues and GainsRevenuesIncome From OperationsRetained Earnings, December 31Gross ProfitSalesTotal RevenuesExpensesOther Expenses and LossesOperating ExpensesDividendsIncome before Income Taxes

enter an income statement item

$enter a dollar amount

select between addition and deduction AddLess:

enter an income statement item

$enter a dollar amount

enter a dollar amount

select a closing name for section one DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains

enter a total amount for section one

enter an income statement item

enter a dollar amount

select a summarizing line for the first part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains

enter a total amount for the first part

select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains

enter a dollar amount

select the summarizing line for the second part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses

enter a total amount for the second part

select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses

enter a dollar amount

select an income statement item DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses

enter a dollar amount

enter a subtotal of the two previous amounts

select a summarizing line for the third part DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Expenses and LossesOther Revenues and Gains

enter a total amount for all three parts

enter an income statement item

enter a dollar amount

select a closing name for this statement DividendsExpensesGross ProfitIncome From OperationsIncome before Income TaxesNet Income / (Loss)Net SalesOperating ExpensesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal RevenuesTotal ExpensesSalesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss)Other Revenues and GainsOther Expenses and Losses

$enter a total net income or loss amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit To Love

Authors: Jezabel Lima

1st Edition

B0C2SG8JS7, 979-8988078807

More Books

Students also viewed these Accounting questions