TO Time Critical Transpor Air Freight Air Charter heduling Pro | T Ocean Sound V

Question

TO Time Critical Transpor Air Freight Air Charter heduling Pro | T Ocean Sound Vacation Ren |ACC-121-2018SP-Reeder-O CengageNowv21Onlir X + takeAssignment/takeAssignmentMain doinvoker-assignmentsätakeássignmentSessiontoatr sasignment-tkein Divisional Income Statements Contact Technical The following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20YS: Cost of goods sold: Service department charges: $912,250 Commercial Division $112,560 Commercial Division Residential Division Administrative expenses: Commercial Division Residential Division 423,675 Residential Division 67,830 Net sales: $149,800 Commercial Division $1,354,500 Residential Division 743,780 128,625 Prepare divisional income statements for Jersey Coast Construction Company. Jersey Coast Construction Company Divisional Income Statements

Explanation / Answer

Income Statement Commercial Divison Residential divison Net Sales Revenue 13,54,500 7,43,780 Less Cost of goods sold 9,12,250 4,23,675 Gross Profit 4,42,250 3,20,105 Operating Expenses Less Administrative Expenses 1,49,800 1,28,625 Less Service Department charges 1,12,560 67,830 Net Income 1,79,890 1,23,650

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