Fill In the blanks In the following separate Income statements a through e. (Amounts to be deducted should be Indicated by a mlnussign.)$ 66,000$ 45,200$ 50,000$ 24,500SalesCost of goods soldMerchandise inventory (beginning)8,90016,5506,3007,9004,330Total cost of merchandise purchases35,00035,0005,800Merchandise inventory (ending)(2,500)(8,200)(6,800)Cost of goods sold33,72018,0007,500Gross profit3,20043,400Expenses20,00011.83010,1205,0007,400Net income (loss)$ 15,370$ (6,920)38,400

Fill in the blanks in the following separate Income statements a through e. (Amounts to be deducted should be Indicated by a mlnus sign.) $ 06,000 $ 45.200 $ 50,000 $ 24,500 Sales Cost of goods sold Merchandise inventory (beginning) 8,000 18,550 6,300 7,900 4,330 Total cost of merchandise purchases 35,000 35,000 5,600 Merchandise inventory (ending) (2,500) (8,200) (6,800) Cost of goods sold 33,720 18.000 7,500 Gross profit 3.200 43,400 Expenses 20,000 10,120 $ 15,370 $ (0,020) 11,830 5,000 7,400 Net income (loss) $ 38,400

Fill in the blanks in the following separate Income statements a through e. (Amounts to be deducted should be Indicated by a mlnus sign.) $ 06,000 $ 45.200 $ 50,000 $ 24,500 Sales Cost of goods sold Merchandise inventory (beginning) 8,000 18,550 6,300 7,900 4,330 Total cost of merchandise purchases 35,000 35,000 5,600 Merchandise inventory (ending) (2,500) (8,200) (6,800) Cost of goods sold 33,720 18.000 7,500 Gross profit 3.200 43,400 Expenses 20,000 10,120 $ 15,370 $ (0,020) 11,830 5,000 7,400 Net income (loss) $ 38,400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Calculate the missing numbers in the following situations. (Input all amounts as positive values.) [15 a b C Invoice cost of merchandise purchases $ 44,900 $ 69 21,900 $ 17,150 Purchase discounts 2,900 370 Purchase returns and allowances 1,950 840 640 Cost of transportation-in 2,200 2,900 Merchandise inventory (beginning of period) 5,400 4,400 Net cost of merchandise purchases 45.600 20,200 Merchandise inventory (end of period) 2,650 4,200 Cost of goods sold $ 59 21,700 SA $ 17,965
2
Question: The cost of goods sold as a percentage of net sales revenue is (round your answer to two decimal places). Sales Revenue $420,000 Sales Returns and Allowances 1,400 Sales Discounts Net Sales Revenue Cost of Good Sold a) 62.45% b) 62.58% c) 61.90% d) 62.24% 850 417,750 260,000
Submit it in excel form
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
For the current period, the following data were taken from the ledger: Purchases Purchases Returns and Allowances Purchases Discounts Freight-in Select one: a. $9,600 b. $39,300 40,000 c. $47,300 d. $34,600 e. None of the above 600 Beginning inventory was $8,000 and ending inventory was $13,000. What was cost of goods sold? 300 200
Instructions: Please DO NOT Excel. Please provide detailed explanations on how you got your answer. Calculate the average cost. cost of goods available for sale: 6,424
Given the information below, what is the gross profit? Sales revenue Accounts receivable Ending inventory Cost of goods sold Sales returns Multiple Choice $76,000 $197,000 $79,000 $106,000 $ 345,000 60,000 118,000 239,000 30,000
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
Journalize the following merchandise transactions: (If an amount box does not require an entry, leave it blank.) a. Sold merchandise on account, $12,900, with terms 2/10, net 30. The cost of the merchandise sold was $8,385. Sale Cost b. Received payment within the discount period.
Cop
Review the following: Data Table Cost of Goods Sold $101 Gross Sales 181 Sales Returns and Allowances 16 Sales Discounts 21 Operating Expenses 47 From the information provided, calculate: a. Gross profit b. Net income or net loss Calculate (a) Gross profit. - = Gross profit - = Calculate (b) Net income or net loss. (Use parentheses or a minus sign to show a net loss.) - = Net income or net loss - =