Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) . a 68,000 $ 7,800 36,000 33,480 25,000 $ b 44,300 $ 16,860 2,100 16,000 11,290 17,010 $ с 54,000 6,600 8,800 14,050 12,800 1,250 $ d 8,000 29,000 6,800 42,800 3,300 39,500 $ 25,800 4,450 5,700 6,700 7,100
Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) . a 68,000 $ 7,800 36,000 33,480 25,000 $ b 44,300 $ 16,860 2,100 16,000 11,290 17,010 $ с 54,000 6,600 8,800 14,050 12,800 1,250 $ d 8,000 29,000 6,800 42,800 3,300 39,500 $ 25,800 4,450 5,700 6,700 7,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question

Transcribed Image Text:Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1
Fill in the blanks in the following separate income statements a through e.
Sales
Cost of goods sold
Merchandise inventory, beginning
Total cost of merchandise purchases
Merchandise inventory, ending
Cost of goods sold
Gross profit
Expenses
Net income (loss)
$ 68,000 $
.
7,800
36,000
33,480
25,000
$
b
44,300 $
16,860
2,100
16,000
11,290
17,010 $
с
54,000
6,600
8,800
14,050
12,800
1,250 $
d
8,000
29,000
6,800
42,800
3,300
39,500
$
e
25,800
4,450
5,700
6,700
7,100
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education