Solution-Prepare a multiple-step income statement

Prepare a multiple-step income statement

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Reference no: EM132222249

Question - The adjusted trial balance of Reeves Company included the following selected accounts:

	Debit	Credit
Sales Revenue		$645,000
Sales Returns and Allowances	$50,000
Sales Discounts	9,500
Cost of Goods Sold	396,000
Freight-Out	2,000
Advertising Expense	15,000
Interest Expense	19,000
Salaries and Wages Expense	84,000
Utilities Expense	23,000
Depreciation Expense	3,500
Interest Revenue		25,000

Instructions: Use the above information to prepare a multiple-step income statement for the year ended December 31, 2018.

Reference no: EM132222249

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Prepare a multiple-step income statement

Reference no: EM132222249

Reference no: EM132222249

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