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Cost of Goods Available For Sale 2,700 Cost of Goods Sold 2200

The document contains 5 sections with financial statements and accounting information including income statements, balance sheets, and calculations of revenues, expenses, assets, liabilities, and equity. Sections include income statements, calculations of cost of goods sold, and statements of comprehensive income.

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Bianca Dalipe
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27 views2 pages

Cost of Goods Available For Sale 2,700 Cost of Goods Sold 2200

The document contains 5 sections with financial statements and accounting information including income statements, balance sheets, and calculations of revenues, expenses, assets, liabilities, and equity. Sections include income statements, calculations of cost of goods sold, and statements of comprehensive income.

Uploaded by

Bianca Dalipe
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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1.

 Cash 19,000
 Prepaid rent 500
 Equipment 5,000
 Accounts payable 2,000
 Revenues 20,000
 Utilities expenses 1,000
 Salaries expenses 1,500

Revenue expenses net income


20,000 1000 20000
1500 -2500
2500 17500

2.
 Rent 1,200
 Provide Services 2,750
 Telephone services 250
 Provided services 1,900 on credit
 Salaries 1,675
 Office cleaning services 350

REVENUE EXPENSES NET INCOME


2750 1200 4650
1900 250 -3475
4650 1675 1175
350
3475

3.
 Sales – 15,000
 Purchases – 2,000
 Purchase returns – 200
 Purchase discounts – 200
 Freight in – 100
 Beginning inventory – 1,000
 Ending inventory – 500

Beginning inventory 1,000


Purchases 1,600
Freight in 100
Cost of Goods Available for Sale 2,700
Ending inventory 500
Cost of Goods Sold 2200

4.
Prepare a single-step Statement of Comprehensive Income using the following:
Revenues – 20,000
Rent expense – 3,000
Salaries expense – 4,000
Utilities expense – 2,000

5.
1. Prepare a multi-step Statement of Comprehensive Income using the following:
Sales – 20,000
Cost of Goods Sold – 10,000
General and administrative expenses – 4,000
Selling expenses – 2,000

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