Answer to Question #249791 in Accounting for Another you

Question

A. Prepare the Multi-step income statement of Quaranteen Comapany for the month ended, September 30, 2021.
-Account Balances:
a. Gross sales - 1,771,800
b. Sales discount - 10,440
c. Sales returns and allowances - 9,000
d. Freight-in - 5,000
e. Merchandise Inventory on september 1 is 500,000 and merchandise inventory end on september 30 is 380,000
-General and administrative expenses include:
a. Office supplies expense - 9,400
b. Salaries expense - 30,000
c. Utilities expense - 6,000
d. Comission expense - 10,000
e. Store supplies expense - 12, 400
f. Delivery expense - 18,600
g. Interest expense - 2,400

Answer 1

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