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) $ 66,000 $ 8,000 35,000 33,860 19,000 $ b 43,600 $ 16,660 2,900 18,000 10,800 14,800 $ с 53,000 5,400 8,300 12,850 12,200 650 $ 7,200 28,000 7,600 41,100 4,600 36,500 $ 27,000 4,500 6,600 7,800 7,300

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) $ 66,000 $ 8,000 35,000 33,860 19,000 $ b 43,600 $ 16,660 2,900 18,000 10,800 14,800 $ с 53,000 5,400 8,300 12,850 12,200 650 $ 7,200 28,000 7,600 41,100 4,600 36,500 $ 27,000 4,500 6,600 7,800 7,300

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

On the basis of the following data, what is the value of the total inventory at the lower of cost or market? Apply lower of cost or market to each inventory item. Inventory Quantity Item Product C Product D a. $6,840 b. $6,540 c. $7,380 d. $6,300 300 420 Unit Cost Price $6 12 Unit Market Price $5 14
Answer with Formulas for upvote.
Vaibhav Subject: accounting
Financial information is presented below: Operating Expenses Sales Returns and Allowances Sales Discounts Sales Revenue Cost of Goods Sold Gross profit would be O $126400. O $144500. O $113700. O $24200. $ 89500 18100 12700 319200 174700
Fill in the blanks in the following separate income statements a through e. (amounts to be deducted should be indicated by a minus sign) a b c d e Sales $63,000 $43,600 $41,000 ________ $24,500 Cost of goods sold Merchandise inventory (beginning) $7,500 $16,290 $5,200 $7,700 $4,400 Total cost of merchandise purchases $33,000 _______ _______ $33,000 $6,800 Merchandise Inventory (ending) _______ $-2,700 $-8,300 $-7,400 ______ Cost of goods sold $33,450 $17,000 _______ ______ $6,400 Gross profit…
The following information is taken from the records of four different companies in the same in- dustry: A в C D Sales $300 $150 $ ? $ 90 Opening Inventory Purchases 40 40 12 240 ? ? (60) ? 63 Cost of Goods Available for Sale 320 190 Ending Inventory ? (60) (15) Cost of Goods Sold ? 100 130 60 $100 ? $ ? $ 65 ? Gross Profit Gross Profit percentage Required: a. Calculate the missing amounts. b. Which company seems to be performing best? Why?
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
None
Please provide the missing items: 1. Sales =? Sales return and allowances = 12,300 Net Sales =? Beginning Inventory =196,000 Net Purchases =415,200 Ending Inventory = 179,500 Cost of goods sold = 431,700 Gross Profit = 95,000 2. Sales = 714,000 Sales return and allowances = ? Net Sales =? Beginning Inventory = 78,000 Net Purchases =284,000 Ending Inventory = 128,500 Cost of goods sold = 233,500 Gross Profit = 464,000
3
Using the following information, what is the cost of goods sold? Purchases $32,282 Selling expense $955 Inventory, September 1 7,698 Inventory, September 30 2,640 Administrative expense 525 Sales 52,858 Rent revenue 1,044 Interest expense 893 a.$893 b.$31,176 c.$37,340 d.$14,993