4-4 Problem

4-4 Problem - Zach Holbert Problem 4-4 J.R. Reid...

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Zach Holbert Problem 4-4 J.R. Reid Corporation Income Statement For The Year Ended June 30, 2007 Sales Revenue Sales $1,678,500 Less: Sales Discounts 31,150 Sales Returns 62,300 (93,450) Net Sales Revenue 1,585,050 Cost of Goods Sold Cost of Goods Sold (896,770) Gross Profit of Sales 688,280 Operating Expenses Selling Expense Freight-out 21,400 Sales Commissions 97,600 Sales Salaries 56,260 Depreciation on Sales Equipment 4,980 Telephone and Internet Expense 9,030 Building Expense-Sales 6,200 Bad Debt Expense 4,850 Miscellaneous Selling Expense 4,715 205,035 Administrative Expense Travel Expense-salesperson 28,930 Building Expense 9,130 Office Supplies Used 3,450 Telephone and Internet Expense 2,820 Miscellaneous Office Expense 6,000 Real Estate and Other Taxes 7,320 Entertainment Expense 14,820 Depreciation of Office Furn. & Equip 7,250 79,720 (284,755) Income from Operations 403,525 Other Revenue and Gains Dividend Revenue 38,000 441,525 Other Expenses and Losses Bond Interest Expense
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This note was uploaded on 04/29/2008 for the course BUAC 2210 taught by Professor Essman during the Spring '08 term at Shawnee.

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4-4 Problem - Zach Holbert Problem 4-4 J.R. Reid...

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