1. Complete the following data taken from the condensed income statements for merchandising Companies X, Y, and Z. Enter net loss with a minus sign. Company X Company Y Company Z Net income/(net loss) $250 $fill in the blank 1 $(50) Sales fill in the blank 2 1,250 930 Gross profit 425 fill in the blank 3 495 Operating expenses fill in the blank 4 550 fill in the blank 5 Cost of goods sold 390 720 fill in the blank 6
1. Complete the following data taken from the condensed income statements for merchandising Companies X, Y, and Z. Enter net loss with a minus sign.
| Company X | Company Y | Company Z | |
| Net income/(net loss) | $250 | $fill in the blank 1 | $(50) |
| Sales | fill in the blank 2 | 1,250 | 930 |
| Gross profit | 425 | fill in the blank 3 | 495 |
| Operating expenses | fill in the blank 4 | 550 | fill in the blank 5 |
| Cost of goods sold | 390 | 720 | fill in the blank 6 |
2. A corporation has 50,000 shares of $25 par stock outstanding. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be
3. Baker Green's weekly gross earnings for the week ending December 7 were $2,000, and her federal income tax withholding was $240. Assuming the social security rate is 6% and Medicare is 1.5%, and all earnings are subject to FICA taxes, what is Green's net pay? Round your answer to the nearest whole dollar.
4. The supplies account had a beginning balance of $1,669. Supplies purchased during the period totaled $4,231. At the end of the period before adjustment, $473 of supplies were on hand. Prepare the
5.The matching principle
Net Income or loss:- It is the difference between the operating expenses and revenue which appear in the Income statement of the company.
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