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Statement of Accounts Multi step Income statement v2 by ClassOf1


Preparation of multi-step Income statement.

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									              Sub: Accounts                                                          Topic: Statement of Accounts

              Preparation of Multi-step Income statement.

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              A partial trial balance for Franklin Enterprises at December 31, 2009 included the following:
                Sales revenue                            $1,850,000
                Loss on sale of equipment                    30,000
                Interest revenue                             80,000
                Interest expense                             20,000
                Loss on expropriated assets                 150,000
                Cost of goods sold                        1,100,000
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