n the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by -) a b d e es $ 62,000 $ 43,500 $ 46,000 $ 25,600 t of goods sold Herchandise inventory ginning) otal cost of merchandise 8,000 17,050 7,500 8,000 4,560 38,000 32,000 6,600 chases lerchandise inventory (ending) (3,000) (9,000) (6,600) ost of goods sold 34,050 16,000 7,000 ss profit 3,750 45,600 enses 10,000 10,650 12,150 3,600 6,000 income (loss) $ 16,850 $ (8,400) $ 42,000 %24
n the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by -) a b d e es $ 62,000 $ 43,500 $ 46,000 $ 25,600 t of goods sold Herchandise inventory ginning) otal cost of merchandise 8,000 17,050 7,500 8,000 4,560 38,000 32,000 6,600 chases lerchandise inventory (ending) (3,000) (9,000) (6,600) ost of goods sold 34,050 16,000 7,000 ss profit 3,750 45,600 enses 10,000 10,650 12,150 3,600 6,000 income (loss) $ 16,850 $ (8,400) $ 42,000 %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
![Exercise 5-1 Computing revenues, expenses, and income LO C1, C2
Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus
sign.)
a
b
C
d
e
Sales
$
62,000 $
43,500 $
46,000
25,600
Cost of goods sold
Merchandise inventory
|(beginning)
8,000
17,050
7,500
8,000
4,560
Total cost of merchandise
38,000
32,000
6,600
purchases
Merchandise inventory (ending)
(3,000)
(9,000)
(6,600)
Cost of goods sold
34,050
16,000
7,000
Gross profit
3,750
45,600
Expenses
10,000
10,650
12,150
3,600
6,000
Net income (loss)
$
16,850
$
(8,400)
$
42,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0728aa7f-3baf-44d9-a8c2-58e3a77781f3%2F7a61bbce-c176-4c46-a312-015a1d20f52b%2Fwq7q1wo_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 5-1 Computing revenues, expenses, and income LO C1, C2
Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus
sign.)
a
b
C
d
e
Sales
$
62,000 $
43,500 $
46,000
25,600
Cost of goods sold
Merchandise inventory
|(beginning)
8,000
17,050
7,500
8,000
4,560
Total cost of merchandise
38,000
32,000
6,600
purchases
Merchandise inventory (ending)
(3,000)
(9,000)
(6,600)
Cost of goods sold
34,050
16,000
7,000
Gross profit
3,750
45,600
Expenses
10,000
10,650
12,150
3,600
6,000
Net income (loss)
$
16,850
$
(8,400)
$
42,000
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