Company A Company B Company C Cash Net Sales Revenue Wages Experse $ 12 Administrative Expenses 48 32 Cash 25 Equipment Finished Goods Inventory Cost of Goods Sold Selling Expenses Equipment 10 Accounts Receivable 23 Service Revenue Net Sales Revenue 75 65 Selling Expenses 34 Merchandise Inventory 12 Cash Rent Expense 67 12 55 work-in-Process Inventory Accounts Recelvable Equipment Accounts Receivable 19 14 23 Cost of Goods Sold 25 Cost of Goods Manufactured Administrative Expenses Raw Materials Inventory
Company A Company B Company C Cash Net Sales Revenue Wages Experse $ 12 Administrative Expenses 48 32 Cash 25 Equipment Finished Goods Inventory Cost of Goods Sold Selling Expenses Equipment 10 Accounts Receivable 23 Service Revenue Net Sales Revenue 75 65 Selling Expenses 34 Merchandise Inventory 12 Cash Rent Expense 67 12 55 work-in-Process Inventory Accounts Recelvable Equipment Accounts Receivable 19 14 23 Cost of Goods Sold 25 Cost of Goods Manufactured Administrative Expenses Raw Materials Inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
Use the following data for Exercises E16-16, E16-17, and E16-18.
Selected data for three companies are given below. All inventory amounts are ending balances and all amounts are in millions.
Identifying differences between service, merchandising, and manufacturing companies
Using the data on the previous page, calculate operating income for each company.
Transcribed Image Text:Company A
Company B
Company C
Cash
Net Sales Revenue
Wages Experse
$ 12
Administrative Expenses
48
32
Cash
25
Equipment
Finished Goods Inventory
Cost of Goods Sold
Selling Expenses
Equipment
10
Accounts Receivable
23
Service Revenue
Net Sales Revenue
75
65
Selling Expenses
34
Merchandise Inventory
12
Cash
Rent Expense
67
12
55
work-in-Process Inventory
Accounts Recelvable
Equipment
Accounts Receivable
19
14
23
Cost of Goods Sold
25
Cost of Goods Manufactured
Administrative Expenses
Raw Materials Inventory
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