Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Operating Expenses P3,500 10,000 Other Income 1. P20,000 P15,000 P5.200 2.48,000 3.52.400 4. 5. B3,123 48,000 42,000 78,123 P2,800 5,720 15,000 12,900 14,000 8,000 6,000 18,200 8,9000 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2,400. 4. The Operating income is 63,445. 5. The Cost of sales is 5% of Sales and 2% of Operating Expenses.
Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Operating Expenses P3,500 10,000 Other Income 1. P20,000 P15,000 P5.200 2.48,000 3.52.400 4. 5. B3,123 48,000 42,000 78,123 P2,800 5,720 15,000 12,900 14,000 8,000 6,000 18,200 8,9000 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2,400. 4. The Operating income is 63,445. 5. The Cost of sales is 5% of Sales and 2% of Operating Expenses.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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Prepare a Statement of Comprehensive Income
Transcribed Image Text:PROBLEM SOLVING 2
Given the information below solve the requirements needed.
Sales
Net Sales
Cost of Sales
Other Income
|1. P20,000
2. 48,000
3. 52,400
Operating
Expenses
P3,500
10.000
P15,000
P2,800
5,720
15,000
12,900
P5.200
14,000
8,000
6,000
18,200
48,000
42,000
4.
8,9000
5. 83,123
78,123
42,000
Additional information;
1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant
erroneously recorded 5,000 in total.
2. The Net sales is 95% of the sales.
3. The Operating Expenses is 20% of Net sales before deducting the sales return and
allowances of 2.400.
4. The Operating income is 63,445.
5. The Cast of sales is 5% of Sales and 2% of Operating Expenses.
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