Acc/230 Checkpoint: Preparing an Income Statement
Guidelines and practices for preparing an income statement in financial accounting.
Jacob Anderson
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Running head: CHECKPOINT:PREPARING AN INCOME STATEMENT 1
Acc/230 Checkpoint: Preparing an Income Statement
Checkpoint: Preparing an Income Statement
Acc/230
Date:
Checkpoint: Preparing an Income Statement
3.10. Prepare a multiple-step income statement for Coyote, Inc. from the following
single-step statement.
Multiple-step FormatSelling Expenses 279,000
General and admin. Expenses 175,000
Depreciation 14,000
Operating Profit 293,000
Other Income (expense)
Interest Income 13,000
Earnings before taxes and interest 306,000
Other Expenses
Interest expence 16,000
Income Taxes 116,000
Net Income (Net Earnings) 174,000
Acc/230 Checkpoint: Preparing an Income Statement
Checkpoint: Preparing an Income Statement
Acc/230
Date:
Checkpoint: Preparing an Income Statement
3.10. Prepare a multiple-step income statement for Coyote, Inc. from the following
single-step statement.
Multiple-step FormatSelling Expenses 279,000
General and admin. Expenses 175,000
Depreciation 14,000
Operating Profit 293,000
Other Income (expense)
Interest Income 13,000
Earnings before taxes and interest 306,000
Other Expenses
Interest expence 16,000
Income Taxes 116,000
Net Income (Net Earnings) 174,000
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Document Details
University
Hult International Business School
Subject
Accounting