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Unformatted text preview: -111,888 Loan payable-500,900 Capital stock-250,000 Retained earnings, Jan. 1-322,433 Dividends 25,000-Sales-3,665,667 Sales discounts 23,112-Sales returns and allowances 144,367-Purchases 2,198,560-Purchase discounts-114,432 Purchase returns and allowances-26,341 Freight-in 73,091-Selling expenses 185,312-Rent expense 262,000-Interest expense 60,400-Salaries expense 200,700-Depreciation expense 63,209-5,136,556 $ 5,136,556 $ (a) Prepare a comprehensive income statement. (b) Prepare closing entries....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11