In: Accounting
The following information for sana co . for year ended 31/12/2017 in euro
Sales |
405000 |
|
Beginning inventory |
100000 |
|
Purchases |
350000 |
|
Fright on Purchases |
16000 |
|
Purchases return |
35000 |
|
Salaries |
44000 |
50% selling |
Fright out |
3000 |
|
Sales discount |
2000 |
|
Advertising expenses |
2200 |
50% selling |
Traveling expenses |
8000 |
50% selling |
Tele |
600 |
|
Rent expenses |
4300 |
1300$ selling |
Supplies expenses |
5300 |
Selling |
Interest expenses |
1700 |
|
Depreciation expenses |
6700 |
|
Bad debit expenses |
1000 |
|
Insurance expenses |
360 |
|
Interest receivables |
800 |
|
Interest revenues |
800 |
|
Prepaid rant |
500 |
|
Selling commissions |
6000 |
|
Salaries payable |
(5000) |
|
Ending inventory |
280000 |
Required : prepare multiple step income statement and closing entries under tax rate 20%
SANA CO.
INCOME STATEMENT AS ON
31/12/2017 ( USING MULTIPLE STEP APPROACH) (AMOUNT IN
EURO)