Qe/ from the following tralasaction, prepar income StatementSales reven uetinished Goods V 50006 Net purchoses loo00rent expenses250 000returns sales lo o00So00rent revenue 30ooadministrutive Expensese 2e00 Sales salaries loooDepreriationother expensesetax incometooo+5006 finished goads 344 7o00 .tooo

Preparation of income statement are as follows

2/trom the following tralasaction, prepar income Statemant sales reven ue tiaished Goods 5000 Net purchases 250 000 Yeturns saes lo o00 rent expenses So00 6 rent revenue 300o administrudive Expensee 20.of Sales salaries loo. Depresiation other expensese soo 6 finished goads 347000 · taxincome Looo tooo

2/trom the following tralasaction, prepar income Statemant sales reven ue tiaished Goods 5000 Net purchases 250 000 Yeturns saes lo o00 rent expenses So00 6 rent revenue 300o administrudive Expensee 20.of Sales salaries loo. Depresiation other expensese soo 6 finished goads 347000 · taxincome Looo tooo

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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