One item is omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them by letter. $463,400 $1,295,000 Sales (b) (d) Cost of merchandise sold (a) $410,000 (c) $900,000 Gross profit 83,500 277,500 275,000 600,000
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- 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 $63,000 $43,600 $41,000 ________ $24,500 Cost of goods sold Merchandise inventory (beginning) $7,500 $16,290 $5,200 $7,700 $4,400 Total cost of merchandise purchases $33,000 _______ _______ $33,000 $6,800 Merchandise Inventory (ending) _______ $-2,700 $-8,300 $-7,400 ______ Cost of goods sold $33,450 $17,000 _______ ______ $6,400 Gross profit…Using the financial information presented for Alexandria Co., compute the missing amounts. Do not include dollar signs or commas in your answers. If an amount is to be deducted, do NOT include parentheses or negative signs. Sales revenue Sales returns and allowances 40,000 Net sales 90,000 Cost of goods sold Gross profit 70,000 Operating expenses Net income 20,0001. Using the following information, what is the amount of gross profit? Purchases $ 30,526 Selling expense $ 769 Inventory, September 1 5,755 Inventory, September 30 10,605 Administrative expense 732 Sales 56,096 Rent revenue 984 Interest expense 1,159 $25,676 $29,932 $30,420 $1,159
- Given the information below, what is the gross profit? Sales revenue Accounts receivable Ending inventory Cost of goods sold Sales returns Multiple Choice $76,000 $197,000 $79,000 $106,000 $ 345,000 60,000 118,000 239,000 30,000Review the following: Data Table Cost of Goods Sold $101 Gross Sales 181 Sales Returns and Allowances 16 Sales Discounts 21 Operating Expenses 47 From the information provided, calculate: a. Gross profit b. Net income or net loss Calculate (a) Gross profit. - = Gross profit - = Calculate (b) Net income or net loss. (Use parentheses or a minus sign to show a net loss.) - = Net income or net loss - =Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 8,500 200 6,000
- The following income statement contains errors. Curbstone Company Income Statement For the Year Ended August 31, 20Y5 1 Sales $8,595,000.00 2 Cost of merchandise sold 6,110,000.00 3 Income from operations $2,485,000.00 4 Expenses: 5 Selling expenses $800,000.00 6 Administrative expenses 575,000.00 7 Delivery expense 425,000.00 8 Total expenses 1,800,000.00 9 $685,000.00 10 Other expense: 11 Interest revenue 45,000.00 12 Gross profit $640,000.00 Identify the errors by preparing a corrected multiple-step income statement. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For…Fill in the missing amounts. Sales revenue Sales returns and allowances (a) Net sales Cost of goods sold Gross profit Operating expenses Net income (b) (c) Pharoah Company $102,000 97,000 65,960 16,490 (d) $ (e) (f) Wildhorse Company 6,200 118,000 40,120 20,060None
- The following are the components in determining cost of goods sold. Determine the missing amounts. (a) (b) Beginning Inventory $78,100 $54,700 69 $ Purchases $101,600 (c) $ Cost of Goods Available for Sale $120,000 $110,000 $151,000 $ Ending Inventory Cost of Goods Sold $33,800 $ $28,800 $ $121,000Find the missing amounts, and be sure to label your Presented here are the components in Wildhorse Company's income statement. Determine the missing amounts. Sales Revenue $81,000 A Cost of Goods Sold B $69,000 Gross Profit $77,800 $57,000 Operating Expenses C $46,000 Net Income $17,000 D6