On the Income Statement, what would the Gross Profit be for Lion Consulting?  Lion Consulting  Adjusted Trial Balance June 30, 2019    Debit Balances Credit Balances Cash 92,000   Accounts Receivable 450,000   Merchandise Inventory 370,000    Estimated Returns Inventory 5,000    Office Supplies 10,000   Prepaid Insurance  12,000    Office Equipment 220,000      Accumulated Depreciation - Office Equip.   58,000 Store Equipment 650,000       Accumulated Depreciation - Store Equip.   87,500  Accounts Payable   38,500 Customer Refunds Payable    10,000 Salaries Payable   4,000 Note Payable (final payment due 2029)*   *140,000 M.T. Lion, Capital   431,000 M.T. Lion, Drawing 300,000   Sales   8,925,000 Cost of Merchandise Sold    5,620,000   Sales Salary Expense 850,000   Advertising Expense 420,000   Depreciation Expense--Store Equipment 33,000   Miscellaneous Selling Expense 18,000    Office Salaries Expense  540,000    Rent Expense  48,000   Insurance Expense  24,000   Depreciation Expense--Office Equipment  10,000   Office Supplies Expense  4,000   Miscellaneous Administrative Expense  6,000    Interest Expense  12,000      Totals 9,694,000 9,694,000 *Note: The current portion of the note payable is $7,000. Use the Adjusted Trial Balance for Lion Consulting. On the Income Statement, what would the Total Operating Expenses be for Lion Consulting?  Group of answer choices $632,000 $1,321,000 $1,953,000

Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019: Cash $120,200   Gerri Faber, Drawing $72,000 Accounts Receivable 326,200   Sales 4,344,900 Merchandise Inventory 365,300   Cost of Merchandise Sold 2,546,100 Estimated Returns Inventory 14,450   Sales Salaries Expense 716,000 Office Supplies 11,300   Advertising Expense 196,900 Prepaid Insurance 8,800   Depreciation Expense—Store Equipment 38,400 Office Equipment 264,500   Miscellaneous Selling Expense 16,800 Accumulated Depreciation—Office Equipment 179,700   Office Salaries Expense 390,900 Store Equipment 825,600   Rent Expense 57,700 Accumulated Depreciation—Store Equipment 264,500   Insurance Expense 17,900 Accounts Payable 183,000   Depreciation Expense—Office Equipment 28,900 Customer Refunds Payable 28,900   Office Supplies Expense 10,600 Salaries Payable…

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Prepare a multiple-step income statement for November.

ces QS 12-13 (Algo) Computing cash from asset sales LO P3 CRUZ, INCORPORATED Comparative Balance Sheets 2021 At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Hages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity Sales Cost of goods sold. Gross profit $ 64,300 27,600 57,700 3,600 Beginning balance 153,200 72,600 (11,200) $ 214,600 $ 10,100 6,000 1,000 Furniture 17,100 20,600 37,700 CRUS, INCORPORATED Incone Statement For Year Ended December 31, 2021 154,700 22,200 $ 214,600 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Het income 2020 $ 16,100 34,100 64,000 2,900 117,100 82,200 (6,200) $ 193,100 $ 14,200 3,300 1,800 19,300 47,700 67,000 123,700 2,400 $…

HAURA DESIGN COMPANY TRIAL BALANCE AS AT 30 JUNE 2020 Accounts Debit Credit RM RM Cash 21,050 Accounts Receivable 6,300 5,000 Inventory Accounts Payable 18,000 Vehicles 80,000 Accumulated Depreciation -Vehicles Humaira Capital Humaira Drawings Freight In Freight Out 32,000 51,800 1,150 800 1,600 Purchase Insurance 500 Sales Return and Allowances 2,100 Purchase Return and Allowances 2,000 Sales Discount 500 Purchase Discount 1400 Sales 70,200 Purchases 35,000 Insurance Expense 600 Interest Revenue 1,100 Salaries Expense 6,000 Rental Revenue 800 Depreciation Expense-Vehicle Bad Debt Expense Prepaid Insurance Salaries Payable Unearned Rental Revenue 16,000 400 1,200 500 400 178,200 178,200 Additional Informations : 1. Inventory as at June 30, 2020 is RM6,300. 2. Net income = RM 13,300 Required : 1. Prepare a Statement of Owner's Equity for the year ended June 30, 2020. 2. Prepare a Statement of Financial Position as at June 30, 2020.