College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 25, Problem 9SPB

1.

To determine

Prepare an income statement for Company FA for the year ended December 31, 20--, showing the departmental direct operating margin and total operating income.

2.

To determine

Compute the departmental direct operating margin percentage of both the departments.

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Shanika Company Income Statement For the Year Ended December 31, 20Y6 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses
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Multi-step Income Statement Pletenets Co. reports the following income statement accounts for the year ended December 31. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative (G&A) expenses. Categorize the following accounts as selling expenses: sales staff salaries expense and advertising expense. Consider the remaining expenses as G&A. Sales discounts Office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries expense $ 750 2,000 1,500 500 250 500 9,000 20,000 1,000 2,500 2

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College Accounting, Chapters 1-27

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