Answer to Question #234263 in Accounting for Another you

Question

A. Prepare a Function of Expense SCI using the information below.

JJ Trading

December 31, 20xx

Advertising Expense - 17,500

Amortization Expense - 5,000

Bad Depts Expense - ?

Depreciation Expense - 12,500

Freight In - 4,590

Gain on Sale of PPE - 2,732

Interest Expense - 2,838

Interest Income - 2,722

Purchase Discount - 4,100

Purchase Returns - 2,732

Purchases - 229,995

Rent Expense - 30,000

Salaries Expense - 40,000

Sales - 382,492

Sales Discount - 6,650

Sales Returns and Allowances - 2,727

Utilities Expense 27,500

Based on actual physical count, inventory balance are as follows:

January 1, 20xx - 12,727.50

December 31, 20xx - 10,382.50

Additional Information:

a. Bad debts is 4 percent of net sales

b. Depreciation of 2,500 is for equipment used in the administrative office.

c. Amortization is attributed to office improvements.

d. 40 percent of salaries are for sales officers.

e. Utilities for the store represent 35 percent of the utilities expense.

f. Rental for office space is 10,000

Answer 1

Dear Another you, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order