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    ACPC's Avatar
    ACPC Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 21, 2008, 09:50 AM
    Problems with income statements
    I am having problems making the income statements match
    For the single step and a multi step
    In intermediate accounting 12 edition for college
    Need help making them say the same just in different form
    Help please
    Administrative Expense
    Officer's Salary $ 4900
    Deprec of Office Furn & Equip $3960
    COGS $ 60570
    Rental Revenue $17230
    Selling Expense
    Transportation-out $2690
    Sales Commissions $7980
    Depre of sales Equip $ 6480
    Sales $96500
    Income Tax $ 9070
    Interest Expense $ 1860
    I need to do them in both forms and they will not equal the same
    The Common sharesout-standing is $40550
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Apr 21, 2008, 03:27 PM
    The difference between single step and multiple step is just the order of items appeared on the income statement. They will be the same.

    What's your result for either of them, if you have different numbers?

    By the way you don't need the share outstanding amount for this problem.
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