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The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,975 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 $58,975 on January 1, 2019, and $51,925 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 451 Sales Returns and Allowances 491 Miscellaneous Income 581 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614 Store Supplies Expense 617 Depreciation Expense-Store Equipment 631 Rent Expense 634 Utilities Expense $246,000 Cr. 4,270 Dr. 320 Cr. 102,880 Dr. 1,895 Dr 3,520 Cr 1,728 Cr. 44, 588 Dr, 2,23e Dr 1,430 Dr ok 12,780 Dr 2,920 Dr. 2e,38e Dr. 5,200 Dr. 637 Salaries Expense-Office 640 Payroll Taxes Expense 643 Depreciation Expense-0ffice Equipment 646 Uncollectible Accounts Expense 691 Interest Expense 490 Or, 648 Dr. 588 Dr Prepare a classified income statement for this firm for the year ended December 31, 2019 Prepare a classified income statement for this firm for the year ended December 31, 2019. BRIDGET'S OFFICE SUPPLIES Income Statement Operating revenue Net sales Cost of goods sold Total merchandise available for sale Total merchandise available for sale Operating expenses Selling expenses Total Selling Expense General and Administrative Expenses Total general and admin expenses lotal Selling Expense General and Administrative Expenses Total general and admin. expenses Total operating expenses Other income Other expense
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