Presented below is information for Ayayai Company for the month of March 2020. Cost of goods sold   $212,100   Rent expense   $30,100 Freight-out   6,010   Sales discounts   7,010 Insurance expense   5,100   Sales returns and allowances   12,010 Salaries and wages expense   55,100   Sales revenue   385,000 (a)     Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Presented below is information for Ayayai Company for the month of March 2020.

Cost of goods sold   $212,100   Rent expense   $30,100
Freight-out   6,010   Sales discounts   7,010
Insurance expense   5,100   Sales returns and allowances   12,010
Salaries and wages expense   55,100   Sales revenue   385,000

(a)

 
 
Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

AYAYAI COMPANY
Income Statement
Choose the accounting period                                                                       
Select an opening name for section one                                                                       
   
Enter an income statement item
 
$Enter a dollar amount
Select between addition and deduction                                                                       : 
     
Enter an income statement item  
$Enter a dollar amount
 
Enter an income statement item
  Enter a dollar amount  
      Enter a total of the two previous amounts
Select a closing name for section one                                                                       
 
Enter a total amount for section one
Enter an income statement item
  Enter a dollar amount
Enter a summarizing line for the first part                                                                       
 
Enter a total amount for the first part
Select an opening name for section two                                                                       
   
Enter an income statement item
Enter a dollar amount
 
Enter an income statement item
Enter a dollar amount
 
Enter an income statement item
Enter a dollar amount
 
Enter an income statement item
Enter a dollar amount  
Select a closing name for section two                                                                       
  Enter a total amount for section two
Select a closing name for this statement                                                                       
 
$Enter a total net income or loss amount
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