6A Ending Inventory (b) Cost of goods sold $127,000 $40,000 $34,000 A SA (d) (f) Assistance Used
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- What is the cost of goods sold? O A. $751,700 OB. $364,500 O C. $455,400 O D. $520,600For each of the following, determine the missing amounts. SalesRevenue Cost ofGoods Sold GrossProfit OperatingExpenses NetIncome $100,000 $ $ $30,000 $12,000 $ $135,000 $125,000 $ $80,000For each of the following, determine the missing amounts. Net Sales Cost ofGoods Sold GrossProfit OperatingExpenses Income FromOperations $100,000 $ $ $30,000 $12,000 $ $135,000 $125,000 $ $80,000
- Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100Cost of goods sold 19,000 49,500 265,900 19,300 30,200Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Prepare the necessary disclosures required by GAAPclo'ied lato the Cost of goods rold Q.No.2 1. Purchased materlals on accont for Rs.95,000 1. Defective rmaterial worth i.5,000 were returned to the supplier. . 3. Materials lasued to factory, Direct niaterials Ns.80,000 and Indirect niaterlals Rs.3,000 Lubor used Rs.90,000 of wlılch Rs.72,000 ls Dlrect Labor 5. Factory overbead costs Incurred ou account of Rs.16,000 5. Depreciation op innchluery was Rs.5,000 . 1. Factory overhead rate is applied at 60% of Direct Labor cost ** N. Cust of guods completel and transferred to linished goods store Rs.150,000 9.' Sold fivished goods costlug Rs.120,000 on accoupt at 30% above cost 10. Bnlatce of factory nvcrlhcad account was clused into the Cost of goods sold 1.PA7. LO 4.3Using the following information: make the December 31 adjusting journal entry for depreciation determine the net book value (NBV) of the asset on December 31 Cost of asset, $250,000 Accumulated depreciation, beginning of year, $80,000 Current year depreciation, $25,000
- Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Stockton Company Adjusted Trial Balance December 31 Depreciation Expense Miscellaneous Expense Totals Account No. 11 12 13 18 19 21 22 31 32 2442 41 51 52 53 54 59 Debit Credit Balances Balances 6,530 2,100 700 13,700 790 2,500 1,960 775 250 185 29.490 1,100 1,900 4,300 12,940 9,250 29,490Help pleaseExercise 5-10 (Algorithmic) (LO. 10) Jebali Company reports gross income of $664,000 and other property-related expenses of $431,600 and uses a depletion rate of 20%. Calculate Jebali's depletion allowance for the current year. $fill in the blank 1
