Enter the missing dollar amounts for the income statement for each of the following independent cases:CasesSalesRevenueBeginningInventoryPurchasesTotalAvailableEndingInventoryCost ofGoods SoldGrossProfitExpensesPretaxIncome(Loss)AB$1,060 $300 $1,000 $ 1,300 $640$660 $400 $190$2101,4002001,0601,26030170270CDс170270440240140880630230180150E1,1209201,120420(140)+

CasesSales revenueBeginning inventoryPurchasesTotal available Ending inventoryCost of goods…

Answered: Enter the missing dollar amounts for…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.13MCE

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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 11,000 4,880 10,210 $ 7,630 200 $ 1,760 $ Case B 6,560 15,200 11,030 $ 1,330 (530) $ Case C $ 3,910 9,430 13,340 $ 6,090 4,420 700 970
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
E7-3 (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: Cases A B C D E Sales Revenue Beginning Inventory $ 1,460 $ 1,460 950 1,080 Purchases 250 $ 160 130 1,450 1,200 700 1,010 Total Available 1,160 Ending Inventory $ 600 270 270 Cost of Goods Sold 540 Gross Profit 420 570 Expenses $ 260 240 160 100 Pretax Income (Loss) 160 270 (60)
Supply the missing dollar amounts for each of the following independent cases: Cases A B C D E Sales Revenue $ 1,350 1,550 1,480 1,650 Beginning Inventory $ Purchases 750 $ 1,450 850 1,450 750 700 1,250 1,550 Cost of Goods Available for Sale Cost of Goods Sold $ 980 850 1,300 Cost of Ending Inventory 780 950 900 Gross Profit 1,050 1,180
Use the following to calculate the general and administrative expenses. Expenses and losses: Cost of goods sold$203, 371 Selling expense57, 431 General and administrative expense Interest expense15, 222 Total expenses and losses$284,000
Determine net income for Kein using the following information. Accumulated depreciation S140,000 Beginning inventory Ending inventory Expenses Net purchases S500,000 S220,000 $167,000 $450,000 Net sales $950,000 a. $527,000 b. $53.000 c. $387.000 d. S85.000
Calculate the missing information for each of the following independent cases: Cases A B C D Beginning Inventory $ Purchases 122 $ 310 260 315 755 1,020 720 Ending Cost of Inventory Goods Sold (perpetual system) 333 310 760 205 670 320 Ending Inventory (as counted) $ 475 205 255 Shrinkage 15
The following information relates to SE10-5 through SE10-7: (in millions) Net sales... Cost of goods sold SE10-7. Gross profit. Selling and administrative expenses Income from operations Interest expense.. EVANS & SONS, INC. Income Statement For Years Ended December 31, 2019 and 2018 Income before income taxes Income tax expense. Net income (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory.. Other current assets. Total current assets Property, plant, & equipment (net) Other assets. Total Assets Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities. Total liabilities.. EVANS & SONS, INC. Balance Sheet December 31, 2019 and 2018 Stockholders' equity - common. Total Liabilities and Stockholders' Equity.. 2019 9,800 (5,500) 4,300 (2,800) 1,500 (300) $ 1,200 2019 100 900 500 400 2018 1,900 2,600 5,700 $10,200 9,300 (5,200) 4,100 (2,700) (220) (200) $980 $950 1,400 $ (250) 1,150 2018 300 800 650 250 2,000 2,500 5,900 $10,400…
Profit and Loss Account for the year ended 31st December 2021 (Figures are in £000) Particulars XYZ ABC Sales 3,690 4,586 Less: Cost of Goods Sold (Including purchases) (2,146) (2,690) Gross Profit 1,544 1,896 Less: Selling & Distribution Expenses Less: Depreciation (1,103) (1,253) Earnings before Interest & Tax or Operating Profit 441 643 Less: Interest (225) (192) Earnings before Tax 216 451 Less: Taxes (86) (180) Earnings after Tax or Net Profit 130 271 Balance Sheet as at31st December 2021 (Figures are in £000) Assets XYZ ABC Fixed Assets 4,542 4,790 Current Assets Account Receivables 274 313 Inventory 654 702 Cash 140 163 Total Current Assets 1,068 1,178 Total Assets 5,610 5,968 Liabilities Capital 3,824 4,310 Long Term Debt 883 760 Current Liabilities Account Payables…
Determine the Sales for the year, Gross Profit P240,000.00, Ending Inventory P120,000.00, Goods available for sale P 200,000.00 P 460,000.00 P 320,000.00 P 400,000.00 P 300,000.00
Calculate the missing information for each of the following independent cases: Cases A B C D Beginning Inventory $ 122 310 260 315 Purchases LA Cost of Goods Sold 755 $ 1,020 720 333 310 760 Ending Inventory (perpetual system) Ending Inventory (as counted) $ 205 670 320 III 475 205 255 Shrinkage 15
Calculate the missing information based on the format of the income statement. Net Sales Cost ofGoods Sold GrossMargin ($) OperatingExpenses Net Profit ($) $332,500 $132,100 $ $107,000 $

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