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Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense nsurance expense Rent expense - Store Rent expense office Store supplies expense dvertie exp Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33.900 Credit $29,00 30,00 12,00 136,80 425,00

Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense nsurance expense Rent expense - Store Rent expense office Store supplies expense dvertie exp Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33.900 Credit $29,00 30,00 12,00 136,80 425,00

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 26MC: A customer returns $690 worth of merchandise and receives a full refund. What accounts recognize...
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Provided is a trial balance. Please complete an multi-step income statement. I will give you a thumbs up. Thank you

 
Income Statement For Year Ended December 31, 2023 Select account title from list Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses
Transcribed Image Text:Income Statement For Year Ended December 31, 2023 Select account title from list Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses
Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals December 31, 2023 Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense Insurance expense Rent expense - Store Rent expense office Store supplies expense Advertising expense Totals Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33,900 $632,800 Credit $29,000 30,000 12,000 136,800 425,000 $632,800
Transcribed Image Text:Cash Accounts receivable Merchandise inventory Store supplies Store Equipment Accumulated depreciation Accounts payable Salaries payable Capital Withdrawals December 31, 2023 Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Sales salaries expense Office salaries expense Insurance expense Rent expense - Store Rent expense office Store supplies expense Advertising expense Totals Debit $19,500 38,000 72,500 4,000 96,000 60,000 7,000 21,300 149,000 14,500 29,800 36,500 13,500 19,500 9,500 8,300 33,900 $632,800 Credit $29,000 30,000 12,000 136,800 425,000 $632,800
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