Professional Documents
Culture Documents
Kristin Anderson
11/8/2015
9/28/2015
Kristin Anderson
Kristin Anderson
kanderson51@students.blackhawk.edu
Magnus Inc.
Corporate Income Statement
February 28, 20xx
Net Sales
Merchandise Inventory, Feb. 1
75,000.00
(68,000.00)
Purchases
300,000.00
22,025
30,125
Magnus Inc.
Corporate Income Statement
February 28, 20xx
452,500.00
(307,000.00)
145,500.00
(52,150.00)
93,350.00
(15,000.00)
78,350.00
(18,500.00)
(8,900.00)
50,950.00
20,000
2.55
COGS
Advertising Expense
Depreciation Expense - Office Equipment
Depreciation Expense - Store Equipment
Extraordinary Loss
Income Tax: On Continuing Operations
Insurance Expense
Interest Expense
Loss from Disposal of a Segment of Business
Merchandise Inventory, Feb. 1
Merchandise Inventory, Feb. 28
Office Salaries Expense
Office Supplies Expense
Purchases
Reduction Applicable to Extraordinary Loss
Reduction Applicable to Loss from Disposal of
a Segment of the Business
Rent Expense
Sales
Sales Salaries Expense
Store Supplies Expense
10,100.00
500.00
2,500.00
10,000.00
15,000.00
500.00
2,500.00
23,000.00
75,000.00
68,000.00
17,000.00
1,025.00
300,000.00
1,100.00
75,000.00
(68,000.00)
300,000.00
4,500.00
500.00
452,500.00
15,000.00
2,525.00
307,000
Other
Expenses
Selling
Expenses
Disc. Ops
10,100
Extraordinary loss
500
2,500
10,000
500
2,500
23,000
17,000
1,025
1,100
4,500
500
15,000
2,525
22,025
30,125
18,500
8,900
Magnus Inc.
Corporate Income Statement
March 31, 20xx
Net Sales
Merchandise Inventory, Feb. 1
68,000.00
(70,000.00)
Purchases
251,200.00
29,245
44,135
Magnus Inc.
Corporate Income Statement
March 31, 20xx
350,000.00
(249,200.00)
100,800.00
(73,380.00)
27,420.00
(10,000.00)
17,420.00
(600.00)
(5,900.00)
10,920.00
20,000
0.55
COGS
Advertising Expense
Depreciation Expense - Office Equipment
Depreciation Expense - Store Equipment
Extraordinary Loss
Income Tax: On Continuing Operations
Insurance Expense
Interest Expense
Loss from Disposal of a Segment of Business
Merchandise Inventory, Mar. 1
Merchandise Inventory, Mar. 31
Office Salaries Expense
Office Supplies Expense
Purchases
Reduction Applicable to Extraordinary Loss
Reduction Applicable to Loss from Disposal of
a Segment of the Business
Rent Expense
Sales
Sales Salaries Expense
Store Supplies Expense
11,500.00
810.00
3,235.00
7,500.00
10,000.00
500.00
6,000.00
1,000.00
68,000.00
70,000.00
20,000.00
935.00
251,200.00
1,600.00
68,000.00
(70,000.00)
251,200.00
400.00
1,000.00
350,000.00
26,250.00
3,150.00
249,200
Other
Expenses
Selling
Expenses
Disc. Ops
11,500
Extraordinary loss
810
3,235
7,500
500
6,000
1,000
20,000
935
1,600
400
1,000
26,250
3,150
29,245
44,135
73,380
600
5,900
Magnus Inc.
Corporate Income Statement
February 28, 20xx
Net Sales
350,000.00
(249,200.00)
Gross Profit
100,800.00
(73,380.00)
27,420.00
(10,000.00)
17,420.00
(600.00)
(5,900.00)
10,920.00
20,000
0.55
Advertising Expense
Depreciation
Expense Office Equipment
Depreciation
Expense Store Equipment
Extraordinary
Loss
Income
Tax: On
Continuing Operations
Insurance Expense
Interest Expense
Loss from Disposal of a
Segment of Business
Merchandise
Inventory,
Mar.
1
Merchandise Inventory,
Mar. 31
Salaries Expense
Office Supplies
Expense
Purchases Applicable to
Reduction
Extraordinary
Loss of a
Loss from Disposal
Segment of the
Business
Rent Expense
Sales
Sales Salaries Expense
Store Supplies Expense
###
810.00
###
###
###
500.00
###
###
###
###
###
935.00
###
###
400.00
###
###
###
###
600
5,900