Transcribed Image Text: gandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College

Transcribed Image Text: gandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College
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Exercise 5A-9 a-b
Presented below is information for Ayayai Company for the month of March 2017.
Purchases
$212,426
Rent expense
$ 30,000
Freight-in
8,000
Sales discounts
9,000
Purchase returns and allowances
7,000
Sales returns and allowances
12,000
Salaries and wages expense
58,000
Sales revenue
375,000
Beginning inventory was $47,000, and ending inventory was $59,000.
Prepare a multiple-step income statement.
AYAYAI COMPANY
Income Statement
For the Month Ended March 31, 2017
Cost of Goods Available for Sale
375000
Sales Revenue
Less .
:
12000
Sales Returns and Allowances
9000
%24
%24

-25-


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