Barbara's Book Store employs the periodic inventory system and prepares monthly financial statements. All accounts have been adjusted except for inventory. A physical count of inventory on 30 September indicates that $2,000 was on hand. A partial listing of account balances follows:
Instructions: Prepare an income statement for Barbara's Book Store for the month ended 30 September.

Question

Barbara's Book Store employs the periodic inventory system and prepares monthly financial statements. All accounts have been adjusted except for inventory. A physical count of inventory on 30 September indicates that $2,000 was on hand. A partial listing of account balances follows:
  Instructions: Prepare an income statement for Barbara's Book Store for the month ended 30 September.

Quizplus · Accepted Answer

The Answer of Barbara's Book Store employs the periodic inventory system and prepares monthly financial statements. All accounts have been adjusted except for inventory. A physical count of inventory on 30 September indicates that $2,000 was on hand. A partial listing of account balances follows:
  Instructions: Prepare an income statement for Barbara's Book Store for the month ended 30 September.

Barbara's Book Store Employs the Periodic Inventory System and Prepares