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The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,575 on January 1, 2019, and

The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,575 on January 1, 2019, and $51,525 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.

Accounts
401 Sales $ 245,200 Cr.
451 Sales Returns and Allowances 4,230 Dr.
491 Miscellaneous Income 280 Cr.
501 Purchases 102,400 Dr.
502 Freight In 1,855 Dr.
503 Purchases Returns and Allowances 3,480 Cr.
504 Purchases Discounts 1,680 Cr.
611 Salaries ExpenseSales 44,100 Dr.
614 Store Supplies Expense 2,190 Dr.
617 Depreciation ExpenseStore Equipment 1,390 Dr.
631 Rent Expense 12,300 Dr.
634 Utilities Expense 2,880 Dr.
637 Salaries ExpenseOffice 19,900 Dr.
640 Payroll Taxes Expense 4,800 Dr.
643 Depreciation ExpenseOffice Equipment 450 Dr.
646 Uncollectible Accounts Expense 600 Dr.
691 Interest Expense 500 Dr.

Prepare a classified income statement for this firm for the year ended December 31, 2019.

image text in transcribed

RDGETS OFFICE SUPPLIES Income Statement Oparating revenue Net sales Cost of goocs scld The Tables you see below is the continued Income Statement started on the left, I just couldn't fit it all on one page. For each Entry i must choose the correct titling entry, such as the following: cost of goods sold/delivered cost of purchases/depreciacion exp etc.. other parts ask the following: Add or Less Sales Ret. Allownace, OR the following: ADD Merch inventory 12/31/19 or LESS Merch inventory 12/31/19, Total merchandise available for sale A Full List of major Title entry Selections will be located directly beneath this picture, THANK YOU for your help Operetng expenses Selling exenses Total Seling Fxpanse General and Administrative Expenses Totel general and admin. expenses Tolal uper ali expisus 0 Other income her expensA

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