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The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $57,775 January 1, 2019, and $50,725
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $57,775 January 1, 2019, and $50,725 on December 31, 2019. The expense accounts numbered 611 through 617 on represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts $243,600 Cr 401 Sales 451 Sales Returns and Allowances 4.150 Dr. 200 Cr 101,600 Dr 491 Miscellaneous Income 501 Purchases 502 Freight In 1,775 Dr. 503 Purchases Returns and Allowances 3,400 Cr. 504 Purchases Discounts 1,600 Cr. 43,300 Dr 2,110 Dr 611 Salaries Expense-Sales 614 Store Supplies Expense 617 Depreciation Expense-Store Equipment 1.310 Dr. .,500 Dr 2,800 Dr 19,100 Dr. 631 Rent Expense 634 Utilities Expense 637 Salaries Expense-office 640 Payroll Taxes Expense 643 Depreciation Expense-office Equipment 646 Unco1lectible Accounts Expense 4,000 Dr. 370 Dr 520 Dr. 691 Interest Expense 340 Dr. Prepare a classified income statement for this firm for the year ended December 31, 2019. BRIDGET'S OFFICE SUPPLIES Income Statement BRIDGET'S OFFICE SUPPLIES Income Statement Operating revenue Net sales Cost of goods sold Total merchandise available for sale Operating expenses Selling expenses Total Selling Expense General and Administrative Expenses Total general and admin. expenses Total operating expenses Other income Other expense
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