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M Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 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) $ 72,000 $ 7,500 58,000 33,390 22,000 $ b 44,500 $ 16,960 2,100 17,000 11,530 15,970 $ C 36,000 $ 47,600 $ 6,100 8,700 13,850 12,700 1,150 $ 7,000 37,000 6,000 47,600 5,100 42,500 25,200 4,470 6,800 7,800 6,600

M Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 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) $ 72,000 $ 7,500 58,000 33,390 22,000 $ b 44,500 $ 16,960 2,100 17,000 11,530 15,970 $ C 36,000 $ 47,600 $ 6,100 8,700 13,850 12,700 1,150 $ 7,000 37,000 6,000 47,600 5,100 42,500 25,200 4,470 6,800 7,800 6,600

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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M Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 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) $ 72,000 $ 7,500 58,000 33,390 4 22,000 $ b 44,500 $ 16,960 2,100 17,000 11,530 15,970 $ C 36,000 $ 47,600 $ 6,100 8,700 13,850 12,700 1,150 $ 7,000 37,000 6,000 47,600 5,100 42,500 25,200 4,470 6,800 7,800 6,600
Transcribed Image Text:M Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 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) $ 72,000 $ 7,500 58,000 33,390 4 22,000 $ b 44,500 $ 16,960 2,100 17,000 11,530 15,970 $ C 36,000 $ 47,600 $ 6,100 8,700 13,850 12,700 1,150 $ 7,000 37,000 6,000 47,600 5,100 42,500 25,200 4,470 6,800 7,800 6,600
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