E9-9Required: Determine the missing amounts.Cost of GrossSalesNetEndingGoodsProfitBegreturns Sales Inventory Purchases InventoryNetSalesSold(Loss)15,00080,00024,000130,00038,0002 126,0006,00048,000145,00046,50037,200 264,800167,00062,800 186,2004 345,0008,600114,000141,000 179,0005 468,000458,800155,000270,000228,000

Name: E9-9Required: Determine the missing amounts.Cost of GrossSalesNetEndi
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Description: E9-9Required: Determine the missing amounts.Cost of GrossSalesNetEndingGoodsProfitBegreturns Sales Inventory Purchases InventoryNetSalesSold(Loss)15,00080,00024,000130,00038,0002 126,0006,00048,000145,00046,50037,200 264,800167,00062,800 186,2004 34

Solution:-1 Calculation of sales as follows:- Net sales = Sales-sales return 80,000 = sales - 5,000…

Business

Accounting

E9-9 Required: Determine the missing amounts. Cost of Gross Sales Goods Profit Ending Sales Inventory Purchases Inventory Net Beg Net Sales returns Sold (Loss) 1 5,000 80,000 24,000 130,000 38,000 2 126,000 6,000 48,000 145,000 46,500 3 7,200 264,800 167,000 62,800 186,200

E9-9 Required: Determine the missing amounts. Cost of Gross Sales Goods Profit Ending Sales Inventory Purchases Inventory Net Beg Net Sales returns Sold (Loss) 1 5,000 80,000 24,000 130,000 38,000 2 126,000 6,000 48,000 145,000 46,500 3 7,200 264,800 167,000 62,800 186,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. Sales revenue Sales returns and allowances Net sales Beginning inventory Ending inventory 2024 $288,820 $ 11,060 2025 13,430 348,998 19,210 33,650 2026 $410,020 Purchases 261,470 298,835 Purchase returns and allowances 5,040 7,800 10,240 Freight-in 8,110 8,410 12,600 Cost of goods sold 235,200 293,080 Gross profit on sales 42,560 95,570 96,640 eTextbook and Media
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Required information PA6-3 (Algo) Recording Sales with Discounts and Estimated and Actual Returns, and Analyzing Gross Profit Percentage [LO 6-4, LO 6-5] [The following information applies to the questions displayed below.] Foster Supplies is a wholesaler of hair supplies. Foster Supplies uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $34,917). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $390). c. Sold merchandise (costing $9,595) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $310) after year-end from sales made during the year. PA6-3 (Algo) Part 1 Required: 1. Compute Net Sales and…
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E7-2 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income (loss) $ Case A 11,080 4,990 16,070 10,230 $ 7,560 $ 5,840 1,720 200 1,520 $ Case B 6,530 8,630 15,160 10,980 $ 7,560 $ 4,180 1,400 840 (560) $ Case C $ 3,950 9,380 13,330 8,980 $ 6,160 4,350 3,790 560 1,250
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Can anyone help me these question, PA11 and PA12?