- Big Box Store Is Located In Midtown Madison During The Past Several Years Net Income Has Been Declining Because Of Sub 1 (39.61 KiB) Viewed 9 times
- Big Box Store Is Located In Midtown Madison During The Past Several Years Net Income Has Been Declining Because Of Sub 2 (33.69 KiB) Viewed 9 times
Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the
company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Cost of Goods Sold Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue Inventory Unadjusted $25,200 30,500 34,000 26,000 518,000 6.500 146,000 6,400 2.000 32.000 Adjusted $25,200 Notes payable 30,500 Owner's Capital Owner's Drawings Prepaid Insurance Property Tax Expense Property Taxes Payable 45,000 26,000 518,000 6,500 146,000 11,000 7,000 6,400 2,000 32.000 Rent Expense Salaries and Wages Expense Sales Revenue Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Utilities Expense Unadjusted Adjusted $37,000 $37,000 101.700 101.700 10,000 10,500 15.000 96,000 720,000 6,500 8.000 8.500 10,000 3,500 2.500 2.500 15,000 96,000 720.000- 11.000 4,500 8,000 8.500
Prepare a multiple-step income
statement. (Ust other revenues before other expenses. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) BIG BOX STORE Income
Statement