00:03
The income statement of blue company is as follows.
00:08
Sales of the company is 49 ,46 ,250.
00:17
Sales discount is 77 ,875.
00:23
Sales return is 1 ,55 ,750.
00:29
We will get net sales revenue from subtracting sales return and discount from sales.
00:36
So net sales revenue is 37 ,12625.
00:44
Cost of goods sold is 22 ,41925.
00:51
So gross profit will come as 14 ,70 ,700.
00:57
Journal and administrative expenses are supply expense as 8 ,625 for administrative expense, telephone and internet expense is 75 % so it will come out as 29 ,625 depreciation expense is also 75 % so it will will come out as 22 ,931 .25 property tax expense will come property tax expense is 18 ,300 office expense is 15 ,000 repair expense is 75 % of total repair expense so it will come out as $28 ,743 .75 so total administrative expense will come out as $1 ,23 ,225 selling expense of the company is salary and wages as $1 ,40 ,650 sales commission is 2 ,44 ,000 travel expense is 72 ,325 delivery expense is 53 ,500 entertainment expense is 37 ,050 telephone and internet expense is 25 % of the total expense so it will come out as 7 ,406 .25 depreciation expense is also 25 % of total depreciation expense so it will be 7 ,643 .75 repair expense is also 25 % of total repair expense so it will come out as 9 ,581 .25 bad debt expense is 12 ,125.
03:12
Miscellaneous selling expenses are 11 ,787 .5...