ch04 - Name: Date: Instructor: Course: Intermediate...

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cf898c696124a9145d7b6620b1d8d406de16c12b.xlsx, E4-4, Page 1 of 4, 03/05/2012, 12:32:03 Name: Date: Instructor: Course: Administrative expenses Officers' salaries $4,900 Depreciation of office furniture and equipment 3,960 Cost of goods sold 63,570 Rent revenue 17,230 Selling expenses Transportation-out 2,690 Sales commissions 7,980 Depreciation of sales equipment 6,480 Sales 96,500 Income tax 7,580 Interest expense 1,860 Instructions: outstanding for 2012 total 40,550 (000 omitted). WEBSTER COMPANY Multi-Step Income Statement For the Year Ended December 31, 2012 (In thousands, except earnings per share) Title Amount Title Amount Title Formula Operating Expenses Title Account Title Amount Account Title Amount Account Title Amount Formula Title Account Title Amount Account Title Amount Formula Formula Title Formula Other Revenues and Gains Account Title Amount Formula Other Expenses and Losses Account Title Amount Income before taxes Formula Account Title Amount Net income Formula Title Formula outstanding for 2012 total 40,550 (000 omitted). WEBSTER COMPANY Single-Step Income Statement For the Year Ended December 31, 2012 (In thousands, except earnings per share) Revenues Net sales Amount Title Amount Total revenues Formula Expenses Title Amount Title Amount Title Amount Title Amount Total expenses Formula Income before taxes Formula Title Amount Net income Formula Title Formula Single-step: Multiple-step: Intermediate Accounting , 14 th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse E4-4 (Multiple-Step and Single-Step) Two accountants for the firm of Allen and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2012 information related to Webster Company ($000 omitted). (a) Prepare an income statement for the year 2012 using the multiple-step form. Common shares (b) Prepare an income statement for the year 2012 using the single-step form. Common shares (c) Which one do you prefer? Discuss.
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cf898c696124a9145d7b6620b1d8d406de16c12b.xlsx, E4-11, Page 2 of 4, 03/05/2012, 12:32:03
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ch04 - Name: Date: Instructor: Course: Intermediate...

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