Corporate Finance Assignment/ Professional Essay Writers
At the end of Snyder Department Storeâ€™s fiscal year on November 30, 2012, these accounts appeared in its adjusted trial balance.
Freight-in â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦ $ 5,060
Inventory (beginning) â€¦â€¦â€¦â€¦â€¦â€¦.. 41,300
Purchases â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦ 613,000
Purchase Discounts â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦ 7,000
Purchase Returns and Allowances â€¦â€¦. 6,760
Sales Revenue â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦ â€¦ 902,000
Sales Returns and Allowances â€¦â€¦â€¦. 20,000
1. Merchandise inventory on November 30, 2012, is $36,200.
2. Note that Snyder Department Store uses a periodic system.
Prepare an income statement through gross profit for the year ended November 30, 2012. Get FInance Help Today