Prepare multi-step income statement Prepare single step income statement Income Statement Saghir Company's 2014 information Administrative Expenses Officers salaries 6,860 Depreciation of office furniture and equipment 5,544 Cost of Goods Sold 84,798 Net Sales 135,100 Rental Revenue 24,122 Selling Expense Transportation Out 3,766 Sales Commissions 1,172 Depreciation of Sales Equipment 9,072 Income Tax 12,698 Interest Expense 2,604 Common Shares Outstanding 40,550 Instructions Prepare a multi-step income statement for 2014 Prepare a single step income statement for 2014
Prepare multi-step income statement Prepare single step income statement Income Statement Saghir Company's 2014 information Administrative Expenses Officers salaries 6,860 Depreciation of office furniture and equipment 5,544 Cost of Goods Sold 84,798 Net Sales 135,100 Rental Revenue 24,122 Selling Expense Transportation Out 3,766 Sales Commissions 1,172 Depreciation of Sales Equipment 9,072 Income Tax 12,698 Interest Expense 2,604 Common Shares Outstanding 40,550 Instructions Prepare a multi-step income statement for 2014 Prepare a single step income statement for 2014
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Prepare multi-step income statement
Prepare single step income statement
| Income Statement | ||||||||
| Saghir Company's 2014 information | ||||||||
| Administrative Expenses | ||||||||
| Officers salaries | 6,860 | |||||||
| Depreciation of office furniture and equipment | 5,544 | |||||||
| Cost of Goods Sold | 84,798 | |||||||
| Net Sales | 135,100 | |||||||
| Rental Revenue | 24,122 | |||||||
| Selling Expense | ||||||||
| Transportation Out | 3,766 | |||||||
| Sales Commissions | 1,172 | |||||||
| Depreciation of Sales Equipment | 9,072 | |||||||
| Income Tax | 12,698 | |||||||
| Interest Expense | 2,604 | |||||||
| Common Shares Outstanding 40,550 | ||||||||
| Instructions | ||||||||
| Prepare a multi-step income statement for 2014 | ||||||||
| Prepare a single step income statement for 2014 |
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