Using the data provided below,determine what amounts will appear on the income statement that is prepared by "nature of expenses."

Note 1 - Distribution costs include $13,000 of employee wages and $10,000 of depreciation.
Note 2 - Cost of goods sold includes $10,000 for depreciation;the remaining amount relates to the net change in inventory and purchases during the year.
Note 3 - General and administrative expenses include $20,000 of employee wages and $5,000 of depreciation.

Question

Using the data provided below,determine what amounts will appear on the income statement that is prepared by "nature of expenses."
  
Note 1 - Distribution costs include $13,000 of employee wages and $10,000 of depreciation.
Note 2 - Cost of goods sold includes $10,000 for depreciation;the remaining amount relates to the net change in inventory and purchases during the year.
Note 3 - General and administrative expenses include $20,000 of employee wages and $5,000 of depreciation.

Quizplus · Accepted Answer

The Answer of Using the data provided below,determine what amounts will appear on the income statement that is prepared by "nature of expenses."
  
Note 1 - Distribution costs include $13,000 of employee wages and $10,000 of depreciation.
Note 2 - Cost of goods sold includes $10,000 for depreciation;the remaining amount relates to the net change in inventory and purchases during the year.
Note 3 - General and administrative expenses include $20,000 of employee wages and $5,000 of depreciation.

Using the Data Provided Below,determine What Amounts Will Appear on the Income