The following data for the current year ended June 30 are from the accounting records of Zanadu Co.: $\begin{array}{lr}
\text { Administrative expenses } & \$ 28,750 \
\text { Cost of merchandise sold } & 181,440 \
\text { Interest expense } & 3,600\
\text { Rent revenue } & 1,500 \
\text { Sales } & 534,440 \
\text { Selling expenses } & 65,000
\end{array}$ Prepare a multiple-step income statement for the year ended June 30.

Question

The following data for the current year ended June 30 are from the accounting records of Zanadu Co.:​ $\begin{array}{lr}
\text { Administrative expenses } & \$ 28,750 \
\text { Cost of merchandise sold } & 181,440 \
\text { Interest expense } & 3,600\
\text { Rent revenue } & 1,500 \
\text { Sales } & 534,440 \
\text { Selling expenses } & 65,000
\end{array}$ Prepare a multiple-step income statement for the year ended June 30.​

Quizplus · Accepted Answer

The Answer of The following data for the current year ended June 30 are from the accounting records of Zanadu Co.:​ $\begin{array}{lr}
\text { Administrative expenses } & \$ 28,750 \
\text { Cost of merchandise sold } & 181,440 \
\text { Interest expense } & 3,600\
\text { Rent revenue } & 1,500 \
\text { Sales } & 534,440 \
\text { Selling expenses } & 65,000
\end{array}$ Prepare a multiple-step income statement for the year ended June 30.​

The Following Data for the Current Year Ended June 30