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Gross profit 13,350 41

Gross profit 13,350 41

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 64,000 $ 7,500 50,000 33,290 20,000 $ b 43,800 $ 16,990 2,200 18,000 11,130 14,670 $ C 46,000 7,000 8,100 13,350 12,450 900 $ d 7,300 36,000 6,400 41,400 5,900 35,500 $ e 25,700 4,410 5,700 7,900 7,000
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 64,000 $ 7,500 50,000 33,290 20,000 $ b 43,800 $ 16,990 2,200 18,000 11,130 14,670 $ C 46,000 7,000 8,100 13,350 12,450 900 $ d 7,300 36,000 6,400 41,400 5,900 35,500 $ e 25,700 4,410 5,700 7,900 7,000
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