1. Fill in the blanks (a. - d.) of the following income statement.Jason's Furniture GalleryIncome StatementDecember 31, 2021Sales RevenuesCost of Goods SoldGross Profitge 1 of 4Operating ExpensesSelling expensesAdministrative expensesTotal Operating ExpensesEarnings Before TaxesIncome TaxesNet IncomeThis problem is not related to the above problem1 30°FClearSales-Cost of goods sold= Gross profitOperating expenses=Earnings Before TaxesIncome Taxes (50%)Net income307 words2. Fill in the missing amounts in all of the blanks on the four income statements.mText Predictions: On$(b)a.$50,00034,00016,0009,0003,500b.60,000Accessibility: Investigate$80,00050,00040,00020,000C.$75,00010,00015,00015,000(a)$(c)$(d)--▬▬▬▬ Q Searchd.$455,000$210,000165,00021,000$100,00040,00060,00020,000I

Note: We can solve only one question at a time as per guidelines so kindly post other questions…

1. Fill in the blanks (a. - d.) of the following income statement. Jason's Furniture Gallery Income Statement December 31, 2021 Sales Revenues Cost of Goods Sold Gross Profit Operating Expenses Selling expenses Administrative expenses Total Operating Expenses Earnings Before Taxes Income Taxes Net Income This problem is not related to the above problem Sales Cost of goods sold =Gross profit Operating expenses Earnings Before Taxes Income Taxes (50%) Net income $(b) 2. Fill in the missing amounts in all of the blanks on the four income statements. a. $50,000 34,000 16,000 9,000 3,500 60,000 b. $80,000 50,000 40,000 20,000 C. $75,000 10,000 $(c) $(d) 15,000 15,000 d. $455,000 $210,000 165,000 21,000 $100,000 40,000 60,000 20,000 н I

1. Fill in the blanks (a. - d.) of the following income statement. Jason's Furniture Gallery Income Statement December 31, 2021 Sales Revenues Cost of Goods Sold Gross Profit Operating Expenses Selling expenses Administrative expenses Total Operating Expenses Earnings Before Taxes Income Taxes Net Income This problem is not related to the above problem Sales Cost of goods sold =Gross profit Operating expenses Earnings Before Taxes Income Taxes (50%) Net income $(b) 2. Fill in the missing amounts in all of the blanks on the four income statements. a. $50,000 34,000 16,000 9,000 3,500 60,000 b. $80,000 50,000 40,000 20,000 C. $75,000 10,000 $(c) $(d) 15,000 15,000 d. $455,000 $210,000 165,000 21,000 $100,000 40,000 60,000 20,000 н I

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

96. Accounting
6
Please do not give solution in image format thanku
Do not provide image in solution.
Debit $ 3,580 31,400 1,715 Credit Cash Merchandise inventory Store supplies Office supplies Prepaid insurance Store equipment Accumulated depreciation, store equipment Office equipment Accumulated depreciation, office equipment Accounts payable Zen Woodstock, capital Zen Woodstock, withdrawals Rental revenue 645 3,960 57,615 $ 6,750 13,100 6,550 4, 000 52, 000 31, 500 14,600 501,520 Sales Sales returns and allowances 2,915 5,190 331, 315 Sales discounts Purchases 2,140 4,725 Purchase returns and allowances Purchase discounts Transportation-in Sales salaries expense Rent expense, selling space Advertising expense Store supplies expense Depreciation expense, store equipment Office salaries expense Rent expense, office space Office supplies expense Insurance expense Depreciation expense, office equipment 3,690 34,710 24,080 6,400 27,630 13,000 Totals $592, 285 $592, 285 a. The balance on January 1, 2020, in the Store Supplies account was $480. During the year, $1,235 of store supplies…
Please do not give solution in image format thanku
Fill in the missing amounts. Sales revenue Sales returns and allowances (a) Net sales Cost of goods sold Gross profit Operating expenses Net income (b) (c) Pharoah Company $102,000 97,000 65,960 16,490 (d) $ (e) (f) Wildhorse Company 6,200 118,000 40,120 20,060
Help me only with question b) Financial statements: Income Statement For the Month Ended October 31, 2021 Revenue Sales 5,600 Less: Cost of Goods Sold Purchases Less: Purchase Return Inventory, October 31, 2021 5,400 (250) (320) (4,830) Gross Profit 770 Rent Revenue 800 Total Revenue 1,570 Expenses: Repairs Expense Wages Expense Rent Expense 110 820 850 (1,780) Net Income (Loss) (210) Statement of Financial Position October 31, 2021 ASSETS Current Assets Cash Cash in Bank Accounts Receivable Inventory, October 31, 2021 Total Current Assets 7,340 8,030 150 320 15,840 Non-Current Assets Office Equipment Flat Car Total Non-Current Assets 2,700 45,000 12,000 59,700 TOTAL ASSETS 75,540 TOTAL LIABILITIES AND OWNER'S EQUITY Liabilities: Accounts Payable…
Part 2 of 7 Luxe Mobile Homes reported the following in its financial statements for the year ended December 31, 2024: (Click the icon to view the financial statements) Read the requirements. Data table Requirement 1. Compute the collections from customers. Collections from customers are $ 24,444 Requirement 2. Compute payments for merchandise inventory. Payments for merchandise inventory are Help me solve this Income Statement Net Sales Revenue Cost of Goods Sold Depreciation Expense Other Operating Expenses Income Tax Expense Net Income Balance Sheet Cash $ Accounts Receivable Merchandise Inventory Property, Plant, and Equipment, net Accounts Payable Accrued Liabilities Long-term Liabilities Common Stock, no par Retained Earnings Demodocs example Get more help - Copyright Print O ☐ 2024 $ 24,623 $ 18,097 269 4,411 535 1,311 S 795 3,487 4,341 1,546 935 483 676 5,005 2023 HW X 21,674 15.458 233 4,283 488 1,212 19 616 2,840 3,424 1,362 467 3,778 Done on Education Inc. All rights 3 hp
Please do not give solution in image format thanku
None