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 с $62,000 $43,500 $55,000 8,000 38,000 17,050 7,500 3,000 34,050 16,000 10,000 9,000 e $25,600 8,000 4,560 32,000 6,600 6,600 12,750 45,600 10,650 12,150 3,600 $16,850 $600 $42,000 7,000 6,000
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 с $62,000 $43,500 $55,000 8,000 38,000 17,050 7,500 3,000 34,050 16,000 10,000 9,000 e $25,600 8,000 4,560 32,000 6,600 6,600 12,750 45,600 10,650 12,150 3,600 $16,850 $600 $42,000 7,000 6,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter11: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 4MC: The difference between merchandise available for sale and the end-of-period merchandise inventory is...
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![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
b
C
$62,000 $43,500 $55,000
8,000
38,000
34,050
10,000
17,050 7,500
8,000
32,000
3,000 9,000 6,600
16,000
12,750
45,600
10,650
12,150
3,600
$16,850 $600 $42,000
e
$25,600
4,560
6,600
7,000
6,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F96ccea39-6e20-4e83-b9fb-b22d2ae10407%2F7cfcf173-79ad-4a1a-b8f1-f2b6189df958%2Foxp169_processed.png&w=3840&q=75)
Transcribed Image Text: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
b
C
$62,000 $43,500 $55,000
8,000
38,000
34,050
10,000
17,050 7,500
8,000
32,000
3,000 9,000 6,600
16,000
12,750
45,600
10,650
12,150
3,600
$16,850 $600 $42,000
e
$25,600
4,560
6,600
7,000
6,000
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