statements calculations and format
Debit
Credit
Merchandise inventory
21 000,00
Other assets
385 200,00
Liaibilities
105 000,00
Reena Excel, capital
339 150,00
Reena Excel, withdrawals
48 000,00
Sales
636 000,00
Sales discounts
9 750,00
Sales returns and allowances
42 000,00
Cost of goods sold
296 000,00
Sales salaries expenses
87 000,00
Rent expenses, selling space
30 000,00
Store supplies expenses
7 500,00
Advertising expenses
54 000,00
Office salaries expenses
79 500,00
Rent expenses, office space
17 800,00
Office suppliesexpenses
2 400,00
Totals
1 080 150,00 1 080 150,00
a) Calculate net sales
b) Prepare a classified multi step income statement that lists company net sales, cost of goo
sold, gross profit as well as the components and amounts of selling expenses and general
administrative expenses.