Accounting Project 1a

Accounting Project - Utilities Expense 6,600.00 Insurance Expense 4,320.00 Depreciation Expense-Equipment 13,300.00 Total Selling Expense

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Wiley Department Store Income Statement For the Year ended December 31, 2005 Sales Revenues Sales Less : Sales Return and allowance 8,000.00 Net Sales Cost of good sold Inventory Jan 1st 40,500.00 Purchase 462,000.00 Less : Purchase Returns and Allowan 6,400.00 Purchase Discounts 12,000.00 18,400.00 Net Purchase 443,600.00 Add : Freight - in 3,600.00 Cost of good purchased 447,200.00 Cost of good available for sale 487,700.00 Inventory Dec 31st 70,000.00 Cost of good sold Gross Profit Operating Expenses Selling Expenses: Sales Commission Expense 14,500.00 Office Salaries Expense 32,000.00 Sales Salaries Expense 76,000.00
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Unformatted text preview: Utilities Expense 6,600.00 Insurance Expense 4,320.00 Depreciation Expense-Equipment 13,300.00 Total Selling Expense Administrative Expenses: Depreciation Expense-Building 10,400.00 Insurance Expense 2,880.00 Property taxes Expense 4,800.00 Utilities Expense 4,400.00 Total Administrative Expense Total Operating Expense Gross Profit after Operating Expenses Other Incomes/Gains Add : Interest Revenue Other Expense/Losses Less : Interest Expense Net Income 618,000.00 610,000.00 417,700.00 192,300.00 146,720.00 22,480.00 169,200.00 23,100.00 4,000.00 11,000.00 16,100.00...
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This note was uploaded on 02/06/2011 for the course BUS 210 taught by Professor Schmeltz during the Spring '08 term at SUNY Stony Brook.

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Accounting Project - Utilities Expense 6,600.00 Insurance Expense 4,320.00 Depreciation Expense-Equipment 13,300.00 Total Selling Expense

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