Everyday Products Inc. multi step income statement
Not what you're looking for?
Create a multi-step income statement.
After all of the transactions for the year ended December 31, 2012, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data below were taken from the records of Everyday Products Inc.
Dec 2012
ad exp $125,000
COGS $3,650,000
delivery exp $29,000
deprec exp office $26,000
deprec exp store $95,000
dividend rev $3,575
gain on sale of investment $2,225
income from lifecare co investment $65,600
income tax expense $128,500
int exp $19,000
int rev $1,800
misc admin exp $7,500
misc sell exp $13,750
office rent exp $50,000
office salaries exp $165,000
office supplies exp $16,000
sales $5,145,000
sales commissions $182,000
sales salaries exp $365,000
store supplies exp $22,000
-------------------
Purchase this Solution
Solution Summary
Your tutorial is attached and shows a multi-step income statement in "good form" and a subtotal for general and administrative expenses and selling expenses to assist you.
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Motivation
This tests some key elements of major motivation theories.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.