I. Given the following information below, answer the question asked. COPY AND ANSWER. Php 6,000,000 Sales Sales Return 21,500 1,200,000 170,000 140,000 100,000 60,000 300,000 3,200,000 300,000 11,450 12,645 10,450 Salaries Expense Supplies Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Purchases Ending Inventory Sales Discounts Purchases Return Purchase Discounts Freight In 1,500 Freight Out 1,850 What are the account titles involved? Show first, then compute. 4. How much is the operating expenses? 5. What will be the net income? 6. What is the 25% of net sales? 7 What is computed value of net purchases?

I. Given the following information below, answer the question asked. COPY AND ANSWER. Php 6,000,000 Sales Sales Return 21,500 1,200,000 170,000 140,000 100,000 60,000 300,000 3,200,000 300,000 11,450 12,645 10,450 Salaries Expense Supplies Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Purchases Ending Inventory Sales Discounts Purchases Return Purchase Discounts Freight In 1,500 Freight Out 1,850 What are the account titles involved? Show first, then compute. 4. How much is the operating expenses? 5. What will be the net income? 6. What is the 25% of net sales? 7 What is computed value of net purchases?

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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