ActP5-7again - SILVOSO COMPANY For the Year Ended December...

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SILVOSO COMPANY For the Year Ended December 31, 2010 Inventory, January 1, 2010 $37,800 Purchases $173,000 Transportation-In 13,500 Cost of Purchases $186,500 Less: Purchases discount taken $4,100 Less: Purchase returns and allowances 6,200 (10,300) Net purchases 176,200 Cost of goods available for sale $214,000 Less: Inventory, December 31, 2010 (34,100) Cost of Goods Sold $179,900 Sales commissions and salaries $18,200 Sales supplies used 5,600 Delivery expense 7,700 Promotion and advertising expense 17,000 Total Selling expense $48,500 Bad debt expense 2,700 Office supplies expense 1,400 Insurance and property tax expense 8,500 Office and administrative salaries expense 32,000 Total general and administrative expenses $44,600 Buildings and office equipment $14,500 Sales equipment 9,600 Total depreciation expense $24,100 Schedule 1 : Cost of Goods Sold Schedule 2 : Selling Expenses Schedule 3 : General and Administrative Expense Schedule 4 : Depreciation Expenses
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SILVOSO COMPANY Income Statement
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ActP5-7again - SILVOSO COMPANY For the Year Ended December...

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