Introduction to Business Today’s QOD and Objectives for Wednesday, February 14, 2018

Introduction to Business Today’s QOD and Objectives for Wednesday, February 14, 2018

Quote for the week!
“Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor.” -James Baldwin (Fifth Avenue, Uptown. Esquire)

Students make sure that you sign in for attendance. Show Wildcat pride to the sub. Work quietly on the assignments assigned from yesterday. I will check your progress when I return today and post it in Power school. Do not lose points stay focused on the assigned task!

Question of the day! Who is Robert L. Johnson?
1. Students are to complete the QOD
2. Open book test today on income statements-Given the information provided create an income statement for XYZ company
Test Assignment-4.4 Prepare a multi-step income statement for the XYZ Company (a clothing retailer) for the year ending December 31, 2017 given the information below: Advertising expenditures 68,000 Beginning inventory 256,000 Depreciation 78,000 Ending inventory 248,000 Gross Sales 3,210,000 Interest expense 64,000 Lease payments(rent expense) 52,000 Management salaries 240,000 Materials purchases 2,425,000 R&D expenditures 35,000 Repairs and maintenance costs 22,000 Returns and allowances 48,000 Taxes 51,000
Use the income statement format from Microsoft Excel. Income statement 1 year1Print it and send to my email. Acctharr1@gmail.com
3. Continue working on unfinished assignments – send to accthar1@gmail.com.