1 answer

Check m Required information Part 2 of 2 The following information applies to the questions displayed...

Question:

Check m Required information Part 2 of 2 The following information applies to the questions displayed below The followying ca
2. Prepare the companys 2017 income statement that reports separate categories for (a) selling expenses and (b) general and
Cost of goods sold Pan 2 of 2 12.5 points Goods available for sale Cost of goods sold aBook Operating expenses Saling expense
Check m Required information Part 2 of 2 The following information applies to the questions displayed below The followying calendar year-end intformation is taken from the December 31 2017, adjusted trial balance and other records of Leone Company 12.5 points Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories $ 680,200 $33,400 Direct labor 9,100 Income taxes expense 1e,100 Indirect labor 31,800 Miscellaneous production costs 135,000 Office salaries expense 8,300 Raw materials purchases 30,000 Rent expense-office space 294,400 59,108 10,100 71,000 995,000 look Print 29,e08 25,400 80,608 48,৪৪৪ 4,456,100 395,500 Rent expense-Selling space 163,600 Rent expense-Factory building 177,000 Haintenance expense-Factory equipment 15,000 Sales 23,900 Sales salaries expense 166,800 140,300 Raw materials, December 31, 2e16 Raw materials, December 31, 2e17 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2816 Finished goods, December 31, 2817 References 00
2. Prepare the company's 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses elock LEONE COMPANY Income Statement Print For Year Ended December 31, 2017
Cost of goods sold Pan 2 of 2 12.5 points Goods available for sale Cost of goods sold aBook Operating expenses Saling expenses Pr Rarnces Total selling espenses Gereral and adminstrative expenses Total ganaral and administrative esperses Total operaing expensos Ircome before taxes Net income

Answers

Solution: 2 LEONE COMPANY Income statement For the year ended December 31,2017 Particulars Amount Amount sales $4,456,100 Cos

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