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dxpayne dxpayne
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Posts: 930
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7 years ago
Big Bird Pet Store had the following financial activities for June. Revenue was $860,000 with cost of goods sold equalling $440,000. Salaries and wages of all employees were $100,000. Fringe benefits were 15 percent of salaries and wages. Rent on the building was $100,000 and equipment amortization was $46,000. Office supplies and utilities totalled $28,000. Income taxes withheld from employees totalled $46,000 for the month while ending accounts payable were $24,680. Cash flows from accounts receivable totalled $880,000.

Required:
Using an income statement format, determine the operating income of the store.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
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AllopaAllopa
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7 years ago
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dxpayne Author
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#2
6 years ago
I see. Hmm...

Thanks for confirming, will mark this solved.
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