Grade 11 Accounting Class Test on Preparing the Income Statement, with memo

Find Grade 11 Accounting Test on Preparing the Income Statement, with memo.

To prepare an income statement, you will need to generate a trial balance report, calculate your revenue, determine the cost of goods sold, calculate the gross margin, including operating expenses, calculate your income, include income taxes, calculate net income and lastly finalize your income statement with business.

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Watch: Video Lesson on Grade 11 Income Statements