- More Info 1 Patricia S Posies At December 31 2019 2 Floral Sea Manufacturing At December 31 2020 Print Done On Dece 1 (27.27 KiB) Viewed 12 times
- More Info 1 Patricia S Posies At December 31 2019 2 Floral Sea Manufacturing At December 31 2020 Print Done On Dece 2 (78 KiB) Viewed 12 times
- More Info 1 Patricia S Posies At December 31 2019 2 Floral Sea Manufacturing At December 31 2020 Print Done On Dece 3 (26.72 KiB) Viewed 12 times
- More Info 1 Patricia S Posies At December 31 2019 2 Floral Sea Manufacturing At December 31 2020 Print Done On Dece 4 (33.42 KiB) Viewed 12 times
On December 31, 2019, her accounting records show the following: Sales revenue. ....$ 55,000 Utilities for shop..... .....$ 1,400 Inventory on December 31, 2019... $ 9,600 Inventory on January 1, 2019.. $ 12,500 Rent for shop .....$ 4,600 Sales commisions $ 4,100 Purchases of merchandise $ 39,000 .. ... Print ... *** ... Done
Requirement (Part One) Prepare an income statement for Patricia's Posies, a merchandiser, for the year ended December 31, 2019. Print Done
Part One: Begin by calculating the cost of goods sold for the year. Patricia's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2019 Sales commissions expense Plus: Cost of goods sold Purchases Less: 55000