Prepare a North east Electronics multi step incomestatement for the month ended
ID: 2457964 • Letter: P
Question
Prepare a North east Electronics multi step incomestatement for the month ended in May 31st 2009
Prepare North east Electroniocs classified balance sheet inreport form at May 31 , balance of Lou Colgin, Capital
Prepare a North east Electronics multi step incomestatement for the month ended in May 31st 2009
Prepare North east Electroniocs classified balance sheet inreport form at May 31 , balance of Lou Colgin, Capital
Interestrevenue $ 400 Accountspayable $16900 Inventory 45000 Accountsrecievable 33700 Note payable , longterm 45000 Accumaleteeddepreciation 38000 Salarypayable 2800 Salesdiscounts 2400 Lou Colgin capital, Sales returns andallowances 8000 April30th 2009 3900 Salesrevenue 296 600 Lou Colgin withdrawals 19000 Sellingexpenses 37900 Cash 7800 Supplies 5900 Cost of goodssold 162 000 Unearned salesrevenue 13800 Equipment 129 600 Interestpayable 1100 Generalexpenses 16700Explanation / Answer
North East Income statement For themonth ended May 31, 2009 Sales Revenue $ 296,600 - sales returns (8,000) -sales discounts (2,400) Netsales 286,200 - Cost of goodssold 162,000 GrossMargin 124,200 - sellingexpenses 37,900 - Generalexpenses 16,700 54,600 Income fromoperations 69,600 Other Gains & Revenues Interestrevenue 400 NetIncome 70,000 Are you missing any data ? Iam not getting the balance sheettallied ? Please check your question one more time and let meknow.