Match each of the following accounts to the appropriate sectionor subsection of a multiple-step income statement as provided.Sections may be used once, more than once, or not at all.

Advertising

Dividend Revenue

Freight-In

Loss on Disposal of a Component Business

Purchase Discounts

Sales Discounts

Officers' Salaries

Freight-Out

Interest Income

a.
Other Revenue

b.
Discontinued Operations

c.
General or Administrative Expenses

d.
Cost of Goods Sold (Addition to Purchases)

e.
Comprehensive Income

f.
Cost of Goods Sold (Subtracted from Purchases)

g.
Selling Expense

h.
Selling Expense

i.
Subtracted from Gross Revenue

j.
Other Revenue

k.
Discontinued Operations

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Nestor RutherfordLv2

28 Sep 2019

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Related questions

Indicate the major section or subsection of a multiple-stepincome statement in which each of the following items would usuallyappear: a. Advertising b. Depletion c. Dividend revenue d.Freight-in e. Loss on disposal of a component of the business, netof tax f. Income taxes on income g. Major casualty loss, net of taxh. Purchase discounts i. Sales discounts j. Officers' salaries k.Freight-out l. Interest income

coppertortoise212

Need help completing an income statement!

Trial Balance:

Acc. #	Account Name	Debits	Credits
100	Cash	$ 66,000
110	Accounts receivable	160,000
115	Allowance for doubtful accounts		$ 7,000
120	Inventory	50,000
135	Prepaid insurance	24,750
136	Prepaid advertising	6,000
150	Land	235,000
160	Building	240,000
165	Accumulated depreciation - building		61,500
170	Equipment	150,000
175	Accumulated depreciation - equipment		53,750
190	Notes receivable	155,000
195	Interest receivable	8,590
200	Accounts payable		135,000
215	Interest payable		11,000
219	Income tax payable		12,477
230	Accrued liabilities		42,000
240	Unearned revenue		27,500
250	Notes payable - current portion		20,000
255	Notes payable - long-term portion		80,000
270	Bonds payable		100,000
300	Common stock		500,000
310	Retained earnings		21,000
350	Dividends	5,000
400	Sales		1,337,250
450	Interest revenue		94,590
500	Cost of goods sold	616,000
510	Administrative and general expenses	97,000
515	Insurance expense	2,250
520	Selling expenses	188,000
531	Depreciation expense - building	7,500
532	Depreciation expense - equipment	12,500
550	Interest expense	71,000
599	Income tax expense	12,477
600	Loss on sale of equipment	60,000
910	Loss from operation of discontinued	75,000
910	segment ofbusiness	75,000
915	Loss from disposal of discontinued	261,000
915	segment ofbusiness	261,000
		$ 2,503,067	$ 2,503,067

Income statement: (I've put in some of the numbers butI'm kinda lost with the operating expenses)

Sales		$ 1,337,250
Cost of goods sold		616,000
Gross Profit		721,250
Operating expenses
Selling expenses		188,000
Administrative and generalexpenses



Total operating expenses
Operating Income
Other revenue
Interest Revenue		94,590
Other expense and loss
Interest expense

Total other expense andloss
Income from continuingoperations before income tax
Income tax expense		113,277
Income from continuingoperations		264,313
Discontinued operations:
Loss fromoperations of discontinued segment, net of
	income tax benefit
Loss from disposalof discontinued segment, net of
	income tax benefit
Total loss from discontinuedoperations


* = Line-item is a subtotal,not an account

EPS:

Question 10 (15 points)

The following is a partial Adjusted Trial Balance for Alpha Company for the month:

Alpha Company
Adjusted Trial Balance (partial)
January 31, 2016
Accounts	Debit	Credit
Inventory	$2,750
Sales		$11,500
Sales Discounts	200
Sales Returns & Allowances	1,200
Purchases	4,000
Purchases Discounts		150
Purchase Returns & Allowances		450
Freight In	50
Advertising Expense	150
Depreciation Expense	130
Freight Out	70
Income Tax Expense	500
Salaries Expense	550
Utilities Expense	100

Additionally, Inventory for December 31, 2015 was $2,600. Prepare a multiple-step income statement.

What amount should Alpha Company report on a Multi-Step Income Statement for the following items:

1. Net Sales

2. Cost of Goods Available for Sales

3. Gross Profit

4. General & Administrative Expenses

5. Income before Taxes

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