FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
The trial balance of AECa an Decenber 31, 2018 showsthe fallowing informratiar Oredit Dehit Sales P 900,000 60,000 Interest Income Gains 20,000 Inventary, beg. Purchases P50,000 200,000 10,000 Freight-In ,000 7,000 Purchase Retums Purchase Discounts 25,000 30,000 15,000 300,000 30,000 Freight out Sales Conmissian Advertising Expense Salaries Expense Rent Expense Debit Credit Depreciation Epense 40,000 Lilities Epense Supplies Expense 20,000 10,000 Transportation and travel Expense Insurance Epense 5,000 12,000 Taxes and Licenses 7000 2000 Interest Expense Mscellaneaus Epense 1,000 Loss an the sale of equipment 15,000 Additional infomation a Ending Inventary is 80,000. b Ohe-half of the salaries rent, and depreciation expenses pertain to the sales department. The sales department does not share inthe ather expense RECURED Prepare the statement of comprehensive income
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Transcribed Image Text:The trial balance of AECa an Decenber 31, 2018 showsthe fallowing informratiar Oredit Dehit Sales P 900,000 60,000 Interest Income Gains 20,000 Inventary, beg. Purchases P50,000 200,000 10,000 Freight-In ,000 7,000 Purchase Retums Purchase Discounts 25,000 30,000 15,000 300,000 30,000 Freight out Sales Conmissian Advertising Expense Salaries Expense Rent Expense Debit Credit Depreciation Epense 40,000 Lilities Epense Supplies Expense 20,000 10,000 Transportation and travel Expense Insurance Epense 5,000 12,000 Taxes and Licenses 7000 2000 Interest Expense Mscellaneaus Epense 1,000 Loss an the sale of equipment 15,000 Additional infomation a Ending Inventary is 80,000. b Ohe-half of the salaries rent, and depreciation expenses pertain to the sales department. The sales department does not share inthe ather expense RECURED Prepare the statement of comprehensive income
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