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  • The Income Statement For Roberts Enterprises For The Year Ended

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    Muhammad Shahid
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    The income statement for Roberts Enterprises for the year ended June 30, 2009 shows total sales of $263,000 with costs of $148,000 and expenses of $21,300, leaving income before taxes of $93,700. After paying $33,000 in income taxes, the company had net income of $60,700 for the fiscal year.

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    The Income Statement for Roberts Enterprises for the Year Ended

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    The income statement for Roberts Enterprises for the year ended June 30, 2009 shows total sales of $263,000 with costs of $148,000 and expenses of $21,300, leaving income before taxes of $93,700. After paying $33,000 in income taxes, the company had net income of $60,700 for the fiscal year.

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    © All Rights Reserved
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    2 views1 page

    The Income Statement For Roberts Enterprises For The Year Ended

    Uploaded by

    Muhammad Shahid
    The income statement for Roberts Enterprises for the year ended June 30, 2009 shows total sales of $263,000 with costs of $148,000 and expenses of $21,300, leaving income before taxes of $93,700. After paying $33,000 in income taxes, the company had net income of $60,700 for the fiscal year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    The income statement for Roberts Enterprises for the year

    ended #6187
    The income statement for Roberts Enterprises for the year ended June 30, 2009, is
    provided.Roberts EnterprisesIncome StatementFor the Year Ended June 30, 2009Sales
    revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 263,000Cost of goods sold . . .
    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... (148,000)Selling and general expenses .. . . . . . . .
    . . . . . . . . . . . . . . . . . . . . . . . (21,300)Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . .
    . . . . . . . $ 93,700Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
    (33,000)Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 60,7001.
    Prepare a journal entry to close the accounts to Retained Earnings.2. What problem may arise
    in closing the accounts if the information from the income statement is used?View Solution:
    The income statement for Roberts Enterprises for the year ended

    ANSWER
    http://paperinstant.com/downloads/the-income-statement-for-roberts-enterprises-for-the-year-
    ended/

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