Ask Question
20 September, 16:16

Rebecca Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Interest Revenue, $966 Sales Revenue, $28,656 Administrative Expenses, $596 Cost of Goods Sold, $11,213 Delivery (freight-out) Expense, $689 Income Tax Expense, $1,189 Interest Expense, $1,492 General Expenses, $1,311 Sales Discounts, $2,318 Sales Returns and Allowances, $932. Rebecca's operating expenses are $

+5
Answers (1)
  1. 20 September, 18:36
    0
    operating expenses $2,596

    Explanation:

    Rebecca Department Stores

    Income Statement

    For the Year Ended December 31, 202x

    Sales revenue:

    Sales Revenue $28,656 Sales Discounts - $2,318 Sales Returns and Allowances - $932 Net sales revenue $25,406

    Cost of goods sold - $11,213

    Gross profit $14,193

    Operating expenses:

    Delivery (freight-out) Expense - $689 Administrative Expenses, - $596 General Expenses - $1,311 - $2,596

    Income from operations $11,597

    Non-operating revenues and expenses

    Interest Revenue $966 Interest Expense - $1,492 - $526

    Net income before taxes $11,071

    Income Tax Expense - $1,189

    Net income after taxes $9,882
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Rebecca Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Interest ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers