Financial information follows for four different companies: Apple Inc. Banana Corp. Cherry Ltd. Dragon Fruit Ltd. Sales Revenue $102,000 (c)<="" td="" style="box-sizing: inherit;"> $144,000 $122,000 Sales Returns and Allowances (a) $8,000 12,000 9,000 Net Sales Revenue 74,000 110,000 132,000 (g) Beginning Inventory 23,000 (d) 40,000 24,000 Purchases 60,000 105,000 (e) 99,000 Returns and Allowances 6,000 10,000 8,000 (h) Ending Inventory (b) 48,000 30,000 28,000 Cost of Goods Sold 64,000 82,000 (f) 72,000 Gross Profit 10,000 29,000 18,000 (i) Required Determine the missing amounts for parts (a) to (i) in the table. Show all calculations after that.
Financial information follows for four different companies: Apple Inc. Banana Corp. Cherry Ltd. Dragon Fruit Ltd. Sales Revenue $102,000 (c)<="" td="" style="box-sizing: inherit;"> $144,000 $122,000 Sales Returns and Allowances (a) $8,000 12,000 9,000 Net Sales Revenue 74,000 110,000 132,000 (g) Beginning Inventory 23,000 (d) 40,000 24,000 Purchases 60,000 105,000 (e) 99,000 Returns and Allowances 6,000 10,000 8,000 (h) Ending Inventory (b) 48,000 30,000 28,000 Cost of Goods Sold 64,000 82,000 (f) 72,000 Gross Profit 10,000 29,000 18,000 (i) Required Determine the missing amounts for parts (a) to (i) in the table. Show all calculations after that.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Financial information follows for four different companies:
|
Apple Inc. |
Banana Corp. |
Cherry Ltd. |
Dragon Fruit Ltd. |
|
|
Sales Revenue |
$102,000 |
(c)<="" td="" style="box-sizing: inherit;"> |
$144,000 |
$122,000 |
|
Sales Returns and Allowances |
(a) |
$8,000 |
12,000 |
9,000 |
|
Net Sales Revenue |
74,000 |
110,000 |
132,000 |
(g) |
|
Beginning Inventory |
23,000 |
(d) |
40,000 |
24,000 |
|
Purchases |
60,000 |
105,000 |
(e) |
99,000 |
|
Returns and Allowances |
6,000 |
10,000 |
8,000 |
(h) |
|
Ending Inventory |
(b) |
48,000 |
30,000 |
28,000 |
|
Cost of Goods Sold |
64,000 |
82,000 |
(f) |
72,000 |
|
Gross Profit |
10,000 |
29,000 |
18,000 |
(i) |
Required
- Determine the missing amounts for parts (a) to (i) in the table. Show all calculations after that.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
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