The following is a listing of some of the balance sheet accounts and all of the income statement…
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The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Mulberry Street Sportswear as they appear on the 12/31/14 adjusted trial balance.
Accounts Payable $10,000 Accounts Receivable 11,000 Advertising Expense 12,000 Cost of Goods Sold 89,000 Delivery Expense 6,000 Insurance Expense 1,000 Interest Expense 2,000 Merchandise Inventory 20,000 Rent Expense 12,000 Sales 160,000 Sales Discounts 11,000 Sales Returns and Allowances 19,000 Unearned Revenue 2,000
Prepare multi-step income statement
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