JK Furniture Practice Set - Financial Statements

JK Furniture Practice Set - Financial Statements - JK...

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JK FURNITURE, INC. Income Statement For Month Ended April 30, 20xx Revenues Sales Less: Sales returns and allowances Sales discounts Net sales Cost of goods sold Gross profit Operating expenses Selling expenses Store salaries expense Advertising expense Credit card expense Bad debt expense Store supplies expense Repairs and maintenance-delivery trucks Depreciation expense-delivery trucks Total selling expenses Administrative expenses Office salary expense Payroll taxes expense Depreciation expense-buildings Utilities expense Offices supplies expense Depreciation expense - office equipment Insurance expense Miscellaneous expense Total administrative expenses Total operating expenses Income from operations Other revenues and gains Interest revenue Other expenses and losses Interest expense Net income $534,920 $8,620 1 . 900 10,520 524,400 367,080
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157,320 43,100 9,200 3,650 2,400 1,580 910 870 61 , 710 38,000 9,100 1,650 1,690 810 560 430 70 52,310 114,020 43,300 1,250 8,900 (7,650) $ 35,650
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JK FURNITURE, INC. Statement of Retained Earnings
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This note was uploaded on 01/19/2011 for the course ACCT 3120 taught by Professor Fesslor during the Spring '10 term at UCM.

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JK Furniture Practice Set - Financial Statements - JK...

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