Scribd Logo
Upload

Welcome to Scribd!

  • 45 views

    Income Statement For The Year Ended December 31

    Uploaded by

    Jane Villanueva
    The document contains income statements and a cost of goods sold statement for Villanueva's Company for the year ended December 31. The income statement shows net sales, cost of goods sold, gross profit, operating expenses including selling and administrative expenses, income from operations, other revenue and expenses, and net income. The cost of goods sold statement shows beginning inventory, purchases net of discounts and returns, transportation in costs, ending inventory, and cost of goods sold.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Income Statement For The Year Ended December 31

    Uploaded by

    Jane Villanueva
    45 views3 pages
    The document contains income statements and a cost of goods sold statement for Villanueva's Company for the year ended December 31. The income statement shows net sales, cost of goods sold, gross profit, operating expenses including selling and administrative expenses, income from operations, other revenue and expenses, and net income. The cost of goods sold statement shows beginning inventory, purchases net of discounts and returns, transportation in costs, ending inventory, and cost of goods sold.

    Original Title

    MERCHAN

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document contains income statements and a cost of goods sold statement for Villanueva's Company for the year ended December 31. The income statement shows net sales, cost of goods sold, gross profit, operating expenses including selling and administrative expenses, income from operations, other revenue and expenses, and net income. The cost of goods sold statement shows beginning inventory, purchases net of discounts and returns, transportation in costs, ending inventory, and cost of goods sold.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    45 views3 pages

    Income Statement For The Year Ended December 31

    Uploaded by

    Jane Villanueva
    The document contains income statements and a cost of goods sold statement for Villanueva's Company for the year ended December 31. The income statement shows net sales, cost of goods sold, gross profit, operating expenses including selling and administrative expenses, income from operations, other revenue and expenses, and net income. The cost of goods sold statement shows beginning inventory, purchases net of discounts and returns, transportation in costs, ending inventory, and cost of goods sold.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 3

    VILLANUEVA"S COMPANY

    Income Statement   
    For the Year Ended December 31   

    SALES:
    LESS:SALES DISCOUNT
    SALES RETURN AND ALLOWANCES
    NET SALES
    COST OF GOD SOLD
    GROSS PROFIT
    OPERATING EXPENSE
    SELLING EXPENSE
    COMMISION EXPENSE
    ADVERTISING EXPENSE
    SALES SALARIES EXPENSE
    RENT EXPENSE-SALE
    TOTAL SELLING EXPENSE
    ADMINISTRATIVE EXPENSE
    RENT EXPENSE-OFFICE
    OFFICE SALARIES EXPENSE
    UTILITIES EXPENSE
    TOTAL ADMIN.EXPENSES
    TOTAL OPERATING EXPENSES
    INCOME FROM OPERATION
    OTHER REVENUE(EXPENSE)
    INTEREST REVENUE
    INTEREST EXPENSE
    TOTAL REVENUE (EXPENSES)
    NET INCOME
    VILLANUEVA"S COMPANY
    Cost of Goods Sold Statement
    For the year ended December 31

    Merchandise Inventory, January 1


    Purchases
    Less: Purchase discount
    Purchase returns and allowances
    Net Purchases (167,000 – 156,000)
    Add: Transportation In
    Net cost of purchases (156,000 + 10,000)
    Cost of goods available for sale  (24,000 + 166,000)
    Less: Merchandise Inventory, December 31
    Cost of goods sold (190,000 – 31,000)
    LANUEVA"S COMPANY
    of Goods Sold Statement
    e year ended December 31

    1
    1
    0

      (24,000 + 166,000)
    ecember 31

    You might also like