Question

Progress Presented below is information for Sunland Company for the month of January 2022. Cost of goods sold $278,000 Rent expense $30,000 Freight-out 7,300 Sales discounts 5,300 Insurance expense 12,400 Sales returns and allowances 13,000 Salaries and wages expense 48,000 Sales revenue 432,000 Prepare a multiple-step income statement.

Answer 1

Answer:

Net profit  $38,000

Explanation:

                      Sunland Company        

Multiple -step Income statement

                                                                                   $

Sales revenue                                                   432,000

Sales returns                                                       (13,000)

Net sales                                                              419,000

Cost of goods sold                                           ( 278,000)

Gross profit                                                           141,000

Expenses:

Rent                                              30,000          

Freight-out                                      7,300

Insurance                                       12,400

Sales discount                               5,300

Salaries and wages                       48,000       (103,000 )

Net profit                                                             38,000

Answer 2

Answer:

                                         Sunland Company

              Income statement for the year ended December 31, 2020

                                                                              Amount in

VER TODAS LAS RESPUESTAS ( 77+ )

RELAXING NOICE

Otras preguntas

Given the sets above, select all (or the null set) of the element of: B

What is the result of subtracting the second equation from the first? x−3y=6 −8x−y=6

Which statement is the most appropriate comparison of the spreads? O A. The interquartile range (IQR) for town A, 45°, is less than the IQR for town B, 50° B. T

plzz helpp guysAt the beginning of an environmental study, a forest covered an area of 1500 km . Since then, this area has decreased by 2.4% each year. Lett be

what are the similarities between the scientific theory and the human relations theory

According to Einstein's famous formula, the relationship between mass and energy can be written E = M ∙ c2, where E = energy in joules, m = mass in kilograms an

There is $500 in Holly's bank account. She takes out $50 from her account each month but doesn't put money back in. What is the slope/rate? *

Before writing a composition, it is best to it first. Hence, anandare very useful and effective in planning to write aAnis a sketch or framework of a text showi

Questions 1-11: Write the correct adverbial form of the word in parentheses. However, we can ship them ? Expensively by train.

Can religion be the basis of our redemption?​