SlideShare a Scribd company logo
Problem 5-4A Computing merchandising amounts and formatting income statements LO C2, P4
[The following information applies to the questions displayed below.]
On August 31, 2012, merchandise inventory was $28,245. Supplementary records of
merchandising activities for the year ended August 31, 2013, reveal the following itemized costs.
References
Section BreakProblem 5-4A Computing merchandising amounts and formatting income
statements LO C2, P4
2.
value:
0.80 points
Required information
Problem 5-4A Part 1
References
eBook & Resources
WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and
single-step income statements.
Problem 5-4A Part 1Learning Objective: 05-C2 Identify and explain the inventory asset and cost
flows of a merchandising company.
Check my work
3.
value:
0.80 points
Required information
Problem 5-4A Part 2
References
eBook & Resources
WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and
single-step income statements.
Problem 5-4A Part 2Learning Objective: 05-C2 Identify and explain the inventory asset and cost
flows of a merchandising company.
Check my work
4.
value:
0.80 points
Required information
Problem 5-4A Part 3
Prepare a multiple-step income statement that includes separate categories for selling expenses
and for general and administrative expenses.
rev: 01_02_2014_QC_43145
References
eBook & Resources
WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and
single-step income statements.
Problem 5-4A Part 3Learning Objective: 05-C2 Identify and explain the inventory asset and cost
flows of a merchandising company.
Check my work
5.
value:
0.80 points
Required information
Problem 5-4A Part 4
Prepare a single-step income statement that includes these expense categories: cost of goods
sold, selling expenses, and general and administrative expenses.
Valley Company’s adjusted trial balance on August 31, 2013, its fiscal year-end, follows.
Solution
1)Net sales : sales Revenue 239,400
less:sales discount (2663)
sales return and allowance (15800)
net sales 219,937
2)cost of merchandise purchased = Invoice cost of merchandise + freight in -disocunt -
allowances
= 102900+3900-2161-4939
= $ 99,700
3)
4)Sales239,400less:Discount(2663)allowances and returns(15800)net sales
revenue219,937less:Cost of goods sold(92,945 )gross margin126,992less:Operatin
expenseselling :Sales salaries 32,798Rent selling 11,252 Advertising
20,349(64,399)General andStore supplies 2,873Office salary 29,925
Rent 2873office supplies 958(36,629)Total operating expenseNet
Income25,964

More Related Content

Similar to Problem 5-4A Computing merchandising amounts and formatting income s.pdf

Devry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignmentDevry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignment
programmers799
 
Devry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignmentDevry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignment
charlesangles123
 
Acc 349 Extraordinary Success/newtonhelp.com
Acc 349 Extraordinary Success/newtonhelp.com  Acc 349 Extraordinary Success/newtonhelp.com
Acc 349 Extraordinary Success/newtonhelp.com
amaranthbeg138
 
Bdc 101 04
Bdc 101 04Bdc 101 04
Bdc 101 04
asia green
 
Acct 550 Extraordinary Success/newtonhelp.com
Acct 550 Extraordinary Success/newtonhelp.com  Acct 550 Extraordinary Success/newtonhelp.com
Acct 550 Extraordinary Success/newtonhelp.com
amaranthbeg132
 
Management Consultant Toolkit in Powerpoint and Excel
Management Consultant Toolkit in Powerpoint and ExcelManagement Consultant Toolkit in Powerpoint and Excel
Management Consultant Toolkit in Powerpoint and Excel
Aurelien Domont, MBA
 
Chapter_4_ppt_Intermediate_Account.ppt
Chapter_4_ppt_Intermediate_Account.pptChapter_4_ppt_Intermediate_Account.ppt
Chapter_4_ppt_Intermediate_Account.ppt
gizachewaleka
 
ACC 349 Expect Success/newtonhelp.com
ACC 349 Expect Success/newtonhelp.comACC 349 Expect Success/newtonhelp.com
ACC 349 Expect Success/newtonhelp.com
myblue003
 
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docxACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
annetnash8266
 
ACC 202 Final Project Guidelines and Rubric Overview Success
ACC 202 Final Project Guidelines and Rubric Overview SuccessACC 202 Final Project Guidelines and Rubric Overview Success
ACC 202 Final Project Guidelines and Rubric Overview Success
vickeryr87
 
Introduction General Notes and Informa.docx
Introduction General Notes and Informa.docxIntroduction General Notes and Informa.docx
Introduction General Notes and Informa.docx
mariuse18nolet
 
ACCT_101_Wild_7e_CH04_Accessible.pptx
ACCT_101_Wild_7e_CH04_Accessible.pptxACCT_101_Wild_7e_CH04_Accessible.pptx
ACCT_101_Wild_7e_CH04_Accessible.pptx
Mike284866
 
Kieso_Inter_Ch04_IFRS.ppt
Kieso_Inter_Ch04_IFRS.pptKieso_Inter_Ch04_IFRS.ppt
Kieso_Inter_Ch04_IFRS.ppt
DipoTriMartiano
 
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.pptChapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
LassaadBenMahjoub
 
CH-4.ppt
CH-4.pptCH-4.ppt
CH-4.ppt
BcsStudy1
 
Fundamentals of abm2 statement of comprehensive income abm specialized subject
Fundamentals of abm2 statement of comprehensive income abm specialized subjectFundamentals of abm2 statement of comprehensive income abm specialized subject
Fundamentals of abm2 statement of comprehensive income abm specialized subject
Gian Paulo Rabanal, LPT
 
HCS 380 Effective Communication/tutorialrank.com
 HCS 380 Effective Communication/tutorialrank.com HCS 380 Effective Communication/tutorialrank.com
HCS 380 Effective Communication/tutorialrank.com
jonhson221
 
HCS 380 Enhance teaching/tutorialrank.com
 HCS 380 Enhance teaching/tutorialrank.com HCS 380 Enhance teaching/tutorialrank.com
HCS 380 Enhance teaching/tutorialrank.com
jonhson308
 
1 ACC 202 Final Project Guidelines and Rubric Ove.docx
1 ACC 202 Final Project Guidelines and Rubric  Ove.docx1 ACC 202 Final Project Guidelines and Rubric  Ove.docx
1 ACC 202 Final Project Guidelines and Rubric Ove.docx
honey725342
 
HCS 380 RANK Education Your Life / hcs380rank.com
HCS 380 RANK Education Your Life / hcs380rank.comHCS 380 RANK Education Your Life / hcs380rank.com
HCS 380 RANK Education Your Life / hcs380rank.com
qwedfgb
 

Similar to Problem 5-4A Computing merchandising amounts and formatting income s.pdf (20)

Devry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignmentDevry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignment
 
Devry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignmentDevry acct 550 week 2 homework assignment
Devry acct 550 week 2 homework assignment
 
Acc 349 Extraordinary Success/newtonhelp.com
Acc 349 Extraordinary Success/newtonhelp.com  Acc 349 Extraordinary Success/newtonhelp.com
Acc 349 Extraordinary Success/newtonhelp.com
 
Bdc 101 04
Bdc 101 04Bdc 101 04
Bdc 101 04
 
Acct 550 Extraordinary Success/newtonhelp.com
Acct 550 Extraordinary Success/newtonhelp.com  Acct 550 Extraordinary Success/newtonhelp.com
Acct 550 Extraordinary Success/newtonhelp.com
 
Management Consultant Toolkit in Powerpoint and Excel
Management Consultant Toolkit in Powerpoint and ExcelManagement Consultant Toolkit in Powerpoint and Excel
Management Consultant Toolkit in Powerpoint and Excel
 
Chapter_4_ppt_Intermediate_Account.ppt
Chapter_4_ppt_Intermediate_Account.pptChapter_4_ppt_Intermediate_Account.ppt
Chapter_4_ppt_Intermediate_Account.ppt
 
ACC 349 Expect Success/newtonhelp.com
ACC 349 Expect Success/newtonhelp.comACC 349 Expect Success/newtonhelp.com
ACC 349 Expect Success/newtonhelp.com
 
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docxACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
ACC 206 Week 1 Assignment Chapter One Problems Please complet.docx
 
ACC 202 Final Project Guidelines and Rubric Overview Success
ACC 202 Final Project Guidelines and Rubric Overview SuccessACC 202 Final Project Guidelines and Rubric Overview Success
ACC 202 Final Project Guidelines and Rubric Overview Success
 
Introduction General Notes and Informa.docx
Introduction General Notes and Informa.docxIntroduction General Notes and Informa.docx
Introduction General Notes and Informa.docx
 
ACCT_101_Wild_7e_CH04_Accessible.pptx
ACCT_101_Wild_7e_CH04_Accessible.pptxACCT_101_Wild_7e_CH04_Accessible.pptx
ACCT_101_Wild_7e_CH04_Accessible.pptx
 
Kieso_Inter_Ch04_IFRS.ppt
Kieso_Inter_Ch04_IFRS.pptKieso_Inter_Ch04_IFRS.ppt
Kieso_Inter_Ch04_IFRS.ppt
 
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.pptChapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
Chapter_4_Slide_ppt_Interuuhhhhhhmediate_Account.ppt
 
CH-4.ppt
CH-4.pptCH-4.ppt
CH-4.ppt
 
Fundamentals of abm2 statement of comprehensive income abm specialized subject
Fundamentals of abm2 statement of comprehensive income abm specialized subjectFundamentals of abm2 statement of comprehensive income abm specialized subject
Fundamentals of abm2 statement of comprehensive income abm specialized subject
 
HCS 380 Effective Communication/tutorialrank.com
 HCS 380 Effective Communication/tutorialrank.com HCS 380 Effective Communication/tutorialrank.com
HCS 380 Effective Communication/tutorialrank.com
 
HCS 380 Enhance teaching/tutorialrank.com
 HCS 380 Enhance teaching/tutorialrank.com HCS 380 Enhance teaching/tutorialrank.com
HCS 380 Enhance teaching/tutorialrank.com
 
1 ACC 202 Final Project Guidelines and Rubric Ove.docx
1 ACC 202 Final Project Guidelines and Rubric  Ove.docx1 ACC 202 Final Project Guidelines and Rubric  Ove.docx
1 ACC 202 Final Project Guidelines and Rubric Ove.docx
 
HCS 380 RANK Education Your Life / hcs380rank.com
HCS 380 RANK Education Your Life / hcs380rank.comHCS 380 RANK Education Your Life / hcs380rank.com
HCS 380 RANK Education Your Life / hcs380rank.com
 

More from ajantaopt

Problem 11-2Athe following are selected transactions of Blanco Com.pdf
Problem 11-2Athe following are selected transactions of Blanco Com.pdfProblem 11-2Athe following are selected transactions of Blanco Com.pdf
Problem 11-2Athe following are selected transactions of Blanco Com.pdf
ajantaopt
 
Problem 1.27 ,a,b,f from Chapter 1 in the text book Signals and S.pdf
Problem 1.27 ,a,b,f from Chapter 1 in the text book  Signals and S.pdfProblem 1.27 ,a,b,f from Chapter 1 in the text book  Signals and S.pdf
Problem 1.27 ,a,b,f from Chapter 1 in the text book Signals and S.pdf
ajantaopt
 
Problem 11 in Chapter 15 examined the TV-viewing habits of adopted .pdf
Problem 11 in Chapter 15 examined the TV-viewing  habits of adopted .pdfProblem 11 in Chapter 15 examined the TV-viewing  habits of adopted .pdf
Problem 11 in Chapter 15 examined the TV-viewing habits of adopted .pdf
ajantaopt
 
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdfProblem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
ajantaopt
 
Problem 8-9A certain investment requires an initial outlay of $12 .pdf
Problem 8-9A certain investment requires an initial outlay of $12 .pdfProblem 8-9A certain investment requires an initial outlay of $12 .pdf
Problem 8-9A certain investment requires an initial outlay of $12 .pdf
ajantaopt
 
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdfProblem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
ajantaopt
 
Problem 5At a constant interest rate of 15, compounded annually, .pdf
Problem 5At a constant interest rate of 15, compounded annually, .pdfProblem 5At a constant interest rate of 15, compounded annually, .pdf
Problem 5At a constant interest rate of 15, compounded annually, .pdf
ajantaopt
 
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdfProblem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
ajantaopt
 
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdfProblem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
ajantaopt
 

More from ajantaopt (9)

Problem 11-2Athe following are selected transactions of Blanco Com.pdf
Problem 11-2Athe following are selected transactions of Blanco Com.pdfProblem 11-2Athe following are selected transactions of Blanco Com.pdf
Problem 11-2Athe following are selected transactions of Blanco Com.pdf
 
Problem 1.27 ,a,b,f from Chapter 1 in the text book Signals and S.pdf
Problem 1.27 ,a,b,f from Chapter 1 in the text book  Signals and S.pdfProblem 1.27 ,a,b,f from Chapter 1 in the text book  Signals and S.pdf
Problem 1.27 ,a,b,f from Chapter 1 in the text book Signals and S.pdf
 
Problem 11 in Chapter 15 examined the TV-viewing habits of adopted .pdf
Problem 11 in Chapter 15 examined the TV-viewing  habits of adopted .pdfProblem 11 in Chapter 15 examined the TV-viewing  habits of adopted .pdf
Problem 11 in Chapter 15 examined the TV-viewing habits of adopted .pdf
 
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdfProblem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
Problem httpi.imgur.comLFdvjnJ.jpg1SolutionAssumtions of.pdf
 
Problem 8-9A certain investment requires an initial outlay of $12 .pdf
Problem 8-9A certain investment requires an initial outlay of $12 .pdfProblem 8-9A certain investment requires an initial outlay of $12 .pdf
Problem 8-9A certain investment requires an initial outlay of $12 .pdf
 
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdfProblem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
Problem 6. Bag 1 has 2 red chips and 4 white chips. Bag 2 has 3 red .pdf
 
Problem 5At a constant interest rate of 15, compounded annually, .pdf
Problem 5At a constant interest rate of 15, compounded annually, .pdfProblem 5At a constant interest rate of 15, compounded annually, .pdf
Problem 5At a constant interest rate of 15, compounded annually, .pdf
 
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdfProblem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
Problem 12-9AODGERS INC.Comparative Balance Sheets December 31.pdf
 
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdfProblem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
Problem 11-2A Fechter Corporation had the following stockholders’ eq.pdf
 

Recently uploaded

1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
1-NLC-MATH7-Consolidation-Lesson1 2024.pptx1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
AnneMarieJacildo
 
Edukasyong Pantahanan at Pangkabuhayan 1: Personal Hygiene
Edukasyong Pantahanan at  Pangkabuhayan 1: Personal HygieneEdukasyong Pantahanan at  Pangkabuhayan 1: Personal Hygiene
Edukasyong Pantahanan at Pangkabuhayan 1: Personal Hygiene
MJDuyan
 
How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17
Celine George
 
Is Email Marketing Really Effective In 2024?
Is Email Marketing Really Effective In 2024?Is Email Marketing Really Effective In 2024?
Is Email Marketing Really Effective In 2024?
Rakesh Jalan
 
CTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDFCTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDF
hammadmughal76316
 
Split Shifts From Gantt View in the Odoo 17
Split Shifts From Gantt View in the  Odoo 17Split Shifts From Gantt View in the  Odoo 17
Split Shifts From Gantt View in the Odoo 17
Celine George
 
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 SlidesWhat is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
Celine George
 
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptxBRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
kambal1234567890
 
Odoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On FacebookOdoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On Facebook
Celine George
 
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
Murugan Solaiyappan
 
NLC English 7 Consolidation Lesson plan for teacher
NLC English 7 Consolidation Lesson plan for teacherNLC English 7 Consolidation Lesson plan for teacher
NLC English 7 Consolidation Lesson plan for teacher
AngelicaLubrica
 
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptx
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptxUnlocking Educational Synergy-DIKSHA & Google Classroom.pptx
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptx
bipin95
 
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 SlidesHow to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
Celine George
 
Principles of Roods Approach!!!!!!!.pptx
Principles of Roods Approach!!!!!!!.pptxPrinciples of Roods Approach!!!!!!!.pptx
Principles of Roods Approach!!!!!!!.pptx
ibtesaam huma
 
modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025
NurFitriah45
 
How to Manage Early Receipt Printing in Odoo 17 POS
How to Manage Early Receipt Printing in Odoo 17 POSHow to Manage Early Receipt Printing in Odoo 17 POS
How to Manage Early Receipt Printing in Odoo 17 POS
Celine George
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
Murugan Solaiyappan
 
New Features in Odoo 17 Sign - Odoo 17 Slides
New Features in Odoo 17 Sign - Odoo 17 SlidesNew Features in Odoo 17 Sign - Odoo 17 Slides
New Features in Odoo 17 Sign - Odoo 17 Slides
Celine George
 
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptxNational Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
EdsNatividad
 
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptxKesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
artenzmartenkai
 

Recently uploaded (20)

1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
1-NLC-MATH7-Consolidation-Lesson1 2024.pptx1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
1-NLC-MATH7-Consolidation-Lesson1 2024.pptx
 
Edukasyong Pantahanan at Pangkabuhayan 1: Personal Hygiene
Edukasyong Pantahanan at  Pangkabuhayan 1: Personal HygieneEdukasyong Pantahanan at  Pangkabuhayan 1: Personal Hygiene
Edukasyong Pantahanan at Pangkabuhayan 1: Personal Hygiene
 
How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17How to Create Sequence Numbers in Odoo 17
How to Create Sequence Numbers in Odoo 17
 
Is Email Marketing Really Effective In 2024?
Is Email Marketing Really Effective In 2024?Is Email Marketing Really Effective In 2024?
Is Email Marketing Really Effective In 2024?
 
CTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDFCTD Punjab Police Past Papers MCQs PPSC PDF
CTD Punjab Police Past Papers MCQs PPSC PDF
 
Split Shifts From Gantt View in the Odoo 17
Split Shifts From Gantt View in the  Odoo 17Split Shifts From Gantt View in the  Odoo 17
Split Shifts From Gantt View in the Odoo 17
 
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 SlidesWhat is Rescue Session in Odoo 17 POS - Odoo 17 Slides
What is Rescue Session in Odoo 17 POS - Odoo 17 Slides
 
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptxBRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
BRIGADA ESKWELA OPENING PROGRAM KICK OFF.pptx
 
Odoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On FacebookOdoo 17 Social Marketing - Lead Generation On Facebook
Odoo 17 Social Marketing - Lead Generation On Facebook
 
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
Lecture_Notes_Unit4_Chapter_8_9_10_RDBMS for the students affiliated by alaga...
 
NLC English 7 Consolidation Lesson plan for teacher
NLC English 7 Consolidation Lesson plan for teacherNLC English 7 Consolidation Lesson plan for teacher
NLC English 7 Consolidation Lesson plan for teacher
 
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptx
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptxUnlocking Educational Synergy-DIKSHA & Google Classroom.pptx
Unlocking Educational Synergy-DIKSHA & Google Classroom.pptx
 
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 SlidesHow to Add a Filter in the Odoo 17 - Odoo 17 Slides
How to Add a Filter in the Odoo 17 - Odoo 17 Slides
 
Principles of Roods Approach!!!!!!!.pptx
Principles of Roods Approach!!!!!!!.pptxPrinciples of Roods Approach!!!!!!!.pptx
Principles of Roods Approach!!!!!!!.pptx
 
modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025modul ajar kelas x bahasa inggris 2024-2025
modul ajar kelas x bahasa inggris 2024-2025
 
How to Manage Early Receipt Printing in Odoo 17 POS
How to Manage Early Receipt Printing in Odoo 17 POSHow to Manage Early Receipt Printing in Odoo 17 POS
How to Manage Early Receipt Printing in Odoo 17 POS
 
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES  Lecture_Notes_Unit4_chapter11_sequenceSEQUNCES  Lecture_Notes_Unit4_chapter11_sequence
SEQUNCES Lecture_Notes_Unit4_chapter11_sequence
 
New Features in Odoo 17 Sign - Odoo 17 Slides
New Features in Odoo 17 Sign - Odoo 17 SlidesNew Features in Odoo 17 Sign - Odoo 17 Slides
New Features in Odoo 17 Sign - Odoo 17 Slides
 
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptxNational Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
National Learning Camp Grade 7 ENGLISH 7-LESSON 7.pptx
 
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptxKesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
Kesadaran_Berbangsa_dan_Bernegara_Nasion.pptx
 

Problem 5-4A Computing merchandising amounts and formatting income s.pdf

  • 1. Problem 5-4A Computing merchandising amounts and formatting income statements LO C2, P4 [The following information applies to the questions displayed below.] On August 31, 2012, merchandise inventory was $28,245. Supplementary records of merchandising activities for the year ended August 31, 2013, reveal the following itemized costs. References Section BreakProblem 5-4A Computing merchandising amounts and formatting income statements LO C2, P4 2. value: 0.80 points Required information Problem 5-4A Part 1 References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and single-step income statements. Problem 5-4A Part 1Learning Objective: 05-C2 Identify and explain the inventory asset and cost flows of a merchandising company. Check my work 3. value: 0.80 points Required information Problem 5-4A Part 2 References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and single-step income statements. Problem 5-4A Part 2Learning Objective: 05-C2 Identify and explain the inventory asset and cost flows of a merchandising company. Check my work
  • 2. 4. value: 0.80 points Required information Problem 5-4A Part 3 Prepare a multiple-step income statement that includes separate categories for selling expenses and for general and administrative expenses. rev: 01_02_2014_QC_43145 References eBook & Resources WorksheetDifficulty: MediumLearning Objective: 05-P4 Define and prepare multiple-step and single-step income statements. Problem 5-4A Part 3Learning Objective: 05-C2 Identify and explain the inventory asset and cost flows of a merchandising company. Check my work 5. value: 0.80 points Required information Problem 5-4A Part 4 Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses. Valley Company’s adjusted trial balance on August 31, 2013, its fiscal year-end, follows. Solution 1)Net sales : sales Revenue 239,400 less:sales discount (2663) sales return and allowance (15800) net sales 219,937 2)cost of merchandise purchased = Invoice cost of merchandise + freight in -disocunt - allowances = 102900+3900-2161-4939 = $ 99,700
  • 3. 3) 4)Sales239,400less:Discount(2663)allowances and returns(15800)net sales revenue219,937less:Cost of goods sold(92,945 )gross margin126,992less:Operatin expenseselling :Sales salaries 32,798Rent selling 11,252 Advertising 20,349(64,399)General andStore supplies 2,873Office salary 29,925 Rent 2873office supplies 958(36,629)Total operating expenseNet Income25,964