J Bryant, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: Sales revenue $ 750,000 Cost of goods sold 525,000 Gross margin 225,000 Operating expenses Selling expense $ 41,060 Administrative expense 68,600 109,660 Net operating income $ 115,340 Bryant sells its coats for $200.00 each. Selling expenses consist of fixed costs plus a commission of $6.00 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 6% of sales.

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to other businesses and occasionally to retail customers: Record on page 10 of the journal Mar. 2 Sold merchandise on account to Equinox Co., $18,900, terms FOB destination, n/30. The cost of the goods sold was $13,300.   3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of the goods sold was $7,000.   4 Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/eom. The cost of the goods sold was $33,200.   5 Sold merchandise for $30,000 to retail customers who used MasterCard. The cost of the goods sold was $19,400. The printed receipts for retail customers included a coupon for $2 off the customer’s next purchase. It is estimated that 2,000 of the coupons will be redeemed. Create a compound journal entry for the sale and coupon payable estimate.   14 Sold $18,000 of merchandise to retail customers who…

Can you please answer this accounting question?

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers: Record on page 10 of the journal Mar. 2 Sold merchandise on account to Equinox Co., $20,000, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $13,150.   3 Sold merchandise for $10,950 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,100.   4 Sold merchandise on account to Empire Co., $51,450, terms FOB shipping point, n/eom. The cost of merchandise sold was $35,420.   5 Sold merchandise for $27,900 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $18,470.   12 Received check for amount due from Equinox Co. for sale on March 2.   14 Sold merchandise to customers who used American Express cards, $12,380. The cost of merchandise sold was $9,120.   16 Sold merchandise on account to Targhee Co., $28,500, terms FOB…

The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. To save time and space, the expenses have been grouped together into two categories.   INCOME STATEMENT ACCOUNT NAME  DEBIT  CREDIT       Income Summary 32,000.00 31,000.00 Sales   324,000.00 Sales Returns and Allowances 13,310.00   Sales Discounts 7,700.00   Purchases 126,360.00   Purchases Returns and Allowances   1,200.00 Purchases Discounts   1,300.00 Freight In 7,500.00   Selling Expenses 61,560.00   General Expenses 50,884.00                         299,314.00 357,500.00 Net Income 58,186.00                         357,500.00 357,500.00 From the information given, prepare an income statement for the company. Ralley Company Income Statement For Year Ended August 31, 20-- Revenue from Sales:               $fill in the blank 2       $fill in the blank 4         fill in the blank 6 fill in the blank 7   Net Sales       $fill in…

Selected accounts from the chart of accounts of Oriole Company are shown below. 101 Cash 401 112 Accounts Receivable 412 120 Inventory 414 126 Supplies 505 157 Equipment 726 201 Accounts Payable Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries and Wages Expense The cost of all merchandise sold was 60% of the sales price. During January, Oriole completed the following transactions. Jan. Purchased merchandise on account from Gallagher Co. $9,300. 3 4 Purchased supplies for cash $70. 4 Sold merchandise on account to Wheeler $5,260, invoice no. 371, terms 1/10, n/30. 5 Returned $300 worth of damaged goods purchased on account from Gallagher Co. on January 3. 6 Made cash sales for the week totaling $3,660. 8 Purchased merchandise on account from Phegley Co. $4,300. 9 Sold merchandise on account to Linton Corp. $7,000, invoice no. 372, terms 1/10, n/30. 11 Purchased merchandise on account from Cora Co. $3,610. 13 Paid in full Gallagher Co. on account…

Gonzales Brush Company sells standard hair brushes.The following Information summarizes Gonzales's operating activities for 2018.   Requirements Requirement 1. Calculate the operating income for 2018 Requirements 2. Gonzales sold 6.200 brushes in 2018 Compute the unit cost for one brush

Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for the​ year:   Selling and Administrative Expenses $4,800 Purchases 158,000 Sales Revenue 790,000 Merchandise​ Inventory, January 1 2,300 Merchandise​ Inventory, December 31 38,550   If the company sold 7,400 bracelets during the​ year, how much is the unit cost for one​ bracelet? (Round your answer to the nearest​ cent.)

The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. To save time and space, the expenses have been grouped together into two categories.   INCOME STATEMENT ACCOUNT NAME  DEBIT  CREDIT       Income Summary 31,100.00 31,130.00 Sales   324,360.00 Sales Returns and Allowances 13,970.00   Sales Discounts 7,620.00   Purchases 126,210.00   Purchases Returns and Allowances   1,020.00 Purchases Discounts   1,110.00 Freight In 8,460.00   Selling Expenses 61,470.00   General Expenses 51,751.00                         300,581.00 357,620.00 Net Income 57,039.00                         357,620.00 357,620.00 From the information given, prepare an income statement for the company. Ralley CompanyIncome StatementFor Year Ended August 31, 20-- (See images)

. Presented below is information for Zales Company for the month of January 20XX. Cost of goods sold $280,000 Rent expense $35,000 Freight-out 7,000 Sales discounts 8,000 Insurance expense 12,000 Sales returns and allowances 13,000 Salaries and wages expense 42,000 Sales revenue 421,000 Instructions: Prepare a multiple-step income statement.