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Ch06P4B - Sales returns and allowances 2,000 Sales...

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Problem 6-4B Resource Products Company Work Sheet For Year Ended October 31, 2005 Account Adjustments Income Statement 2. Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Resource Products Company Cash 6,400 Income Statement Merchandise inventory 23,000 For Year Ended October 31, 2005 Store supplies 9,600 Sales Prepaid insurance 4,600 Less: Sales returns and allowances Store equipment 83,800 Sales discounts - Accumulated amortization, store 30,000 Net sales - Accounts payable 16,000 Cost of goods sold Jan Smithers, capital 70,400 Gross profit - Jan Smithers, withdrawals 6,000 Operating expenses: Sales 208,000 Selling expenses:
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Unformatted text preview: Sales returns and allowances 2,000 Sales discounts 4,000 Cost of goods sold 74,800 Amortization expense, store- Salaries expense 62,000 Total selling expenses- Interest expense 400 General and administrative expenses: Insurance expense- Rent expense 28,000 Store supplies expense- Advertising expense 19,800 Totals 324,400 324,400 Total general and administrative expenses- Total operating expenses- Income from operations- Other revenues and expenses: Net income (loss) Unadjusted Trial Balance Adjusted Trial Balance Balance Sheet & Statement of Owner's Equity...
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