ACCT2121 Exam 2 Multi-Step Income Statement

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10 Terms

1
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?
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

Sales Revenue

2
New cards

Sales Revenue
?
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

(COGS)

3
New cards

Sales Revenue
(COGS)
————————————————
?
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

Gross Profit

4
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
?
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

(Operating Expenses)

5
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
?
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

Income from Operations

6
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
?
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

+Nonoperating Revenues & Gains

7
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
?
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
Net Income after Taxes

(Nonoperating Expenses & Losses)

8
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
?
(Income Tax Exepense)
————————————————
Net Income after Taxes

Net Income before Taxes

9
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
?
————————————————
Net Income after Taxes

(Income Tax Expense)

10
New cards

Sales Revenue
(COGS)
————————————————
Gross Profit
(Operating Expenses)
————————————————
Income from Operations
+Nonoperating Revenues & Gains
(Nonoperating Expenses & Losses)
————————————————
Net Income before Taxes
(Income Tax Exepense)
————————————————
?

Net Income after Taxes