Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) 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 8,000 59,000 $ 68,000 $ 43,600 $ 56,000 33,720 b 22,000 с 16,950 6,500 7,400 29,000 (2,500) (8,100) (7,100) 17,000 d 48,200 4,400 3,200 10,420 10,620 $ 16,180 S (7,420) $43,800 $ 25,500 4,550 5,200 7,600 6,800

Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) 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 8,000 59,000 $ 68,000 $ 43,600 $ 56,000 33,720 b 22,000 с 16,950 6,500 7,400 29,000 (2,500) (8,100) (7,100) 17,000 d 48,200 4,400 3,200 10,420 10,620 $ 16,180 S (7,420) $43,800 $ 25,500 4,550 5,200 7,600 6,800

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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