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Posted: **Sun Jun 05, 2022 6:31 pm**

: Es Problem 3 24a Algo Preparing A Schedule Of Cost Of Goods Sold And Multistep And Single Step Income Statements Peri 1 (29.13 KiB) Viewed 28 times

: Es Problem 3 24a Algo Preparing A Schedule Of Cost Of Goods Sold And Multistep And Single Step Income Statements Peri 2 (32.01 KiB) Viewed 28 times

: Es Problem 3 24a Algo Preparing A Schedule Of Cost Of Goods Sold And Multistep And Single Step Income Statements Peri 3 (49.9 KiB) Viewed 28 times

: Es Problem 3 24a Algo Preparing A Schedule Of Cost Of Goods Sold And Multistep And Single Step Income Statements Peri 4 (61.12 KiB) Viewed 28 times

es Problem 3-24A (Algo) Preparing a schedule of cost of goods sold and multistep and single-step income statements: Periodic system (Appendix) LO 3-2, 3-6, 3-9 The following account titles and balances were taken from the adjusted trial balance of King Co. for Year 2. The company uses the periodic inventory system. Account Title Balance Sales returns and allowances $ 4,600 1,200 Miscellaneous expense Transportation-out 3,600 Sales 165,000 7,600 22,700 Advertising expense Salaries expense Transportation-in Purchases 3,450 96,000 Interest expense 650 Merchandise inventory, January 1 Rent expense 14,200 9,500 Merchandise inventory, December 31 Purchase returns and allowances 11,000 3,600 Loss on sale of land utilities expense 4,600 2,300 Required a. Prepare a schedule to determine the amount of cost of goods sold. b. Prepare a multistep income statement. c. Prepare a single-step income statement. Complete this nunction
Complete this quest Required A Required B Required C Prepare a schedule to determine the amount of cost of goods sold. (Amounts to be deducted should be indicated with minut sign.) KING CO. Schedule of Cost of Goods Sold For the Year Ended December 31, Year 2 Required B > Cost of goods available for sale Cost of goods sold Required A
KING CO. Income Statement For the Year Ended December 31, Year 2 Sales Net sales Operating expenses Total operating expenses Non-operating items Total non-operating items
Prepare a single-step income statement. KING CO. Income Statement For the Year Ended December 31, Year 2 Sales Net sales Operating expenses Total expenses Non-operating items Net income (loss)