Accounts Receivable$   21,000 Cost of Goods Sold215,000 Selling Expenses (includes depreciation)27,000 Interest Expense800 Accumulated Depreciation—Building33,000 Sales Discounts13,000 Unearned Service Revenue28,000 Inventory37,000 Administrative Expenses (includes depreciation)18,000 Sales Revenue330,000 Accounts Payable9,000 Interest Revenue600 Instructions: Using the data provided as appropriate, prepare a multiple-step income statement for Atlantic Department Store for the year ended December 31, 2012.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Accounts Receivable$   21,000

Cost of Goods Sold215,000

Selling Expenses (includes depreciation)27,000

Interest Expense800

Accumulated Depreciation—Building33,000

Sales Discounts13,000

Unearned Service Revenue28,000

Inventory37,000

Administrative Expenses (includes depreciation)18,000

Sales Revenue330,000

Accounts Payable9,000

Interest Revenue600

Instructions: Using the data provided as appropriate, prepare a multiple-step income statement for Atlantic Department Store for the year ended December 31, 2012.

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