ACC410 E4-6 - EXERCISE46 (a) MultipleStepForm...

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EXERCISE 4-6  (a) Multiple-Step Form Weatherspoon Shoe Co. Income Statement For the Year Ended December 31, 2010 Net sales. ....................................................... $980,000 Cost of goods sold. ........................................   516,000 Gross profit on sales. ..................................... 464,000 Operating Expenses       Selling expenses             Wages and salaries. .......................... $114,800             Depr. exp. (70% X $65,000). ............. 45,500             Materials and supplies. ......................     17,600 $177,900       Administrative expenses             Wages and salaries. .......................... 135,900             Other admin. expenses. .....................     51,700             Depr. exp. (30% X $65,000). .............     19,500   207,100   385,000 Income from operations. ................................ 79,000
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This note was uploaded on 10/27/2010 for the course FIN 82571 taught by Professor Sharp during the Fall '10 term at CSU Sacramento.

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ACC410 E4-6 - EXERCISE46 (a) MultipleStepForm...

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