Corporate Finance Assignment/ Professional Essay Writers

At the end of Snyder Department Store’s fiscal year on November 30, 2012, these accounts appeared in its adjusted trial balance.

Freight-in …………………………… $ 5,060
Inventory (beginning) ……………….. 41,300
Purchases …………………………… 613,000
Purchase Discounts …………………… 7,000
Purchase Returns and Allowances ……. 6,760
Sales Revenue …………………… … 902,000
Sales Returns and Allowances ………. 20,000

Additional facts:

1. Merchandise inventory on November 30, 2012, is $36,200.

2. Note that Snyder Department Store uses a periodic system.

Instructions:

Prepare an income statement through gross profit for the year ended November 30, 2012.  Get FInance Help Today