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ow much is the total net revenue? ow much is the total net profit from the operation ow much is the total gross profit? ow much is the total cost of goods sold

ow much is the total net revenue? ow much is the total net profit from the operation ow much is the total gross profit? ow much is the total cost of goods sold

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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ACTIVITY 4

Prepare a detailed Statement of Comprehensive Income of A & Z Trading. Arrange the title of the following account in its proper position. a. How much is the total net revenue? b. How much is the total net profit from the operation? c. How much is the total gross profit? d. How much is the total cost of goods sold Sales Revenue ? Purchases 698,000.00 Freight In 3,000.00 Sales Return and Allowance 12,000.00 Net Sales 658,000.00 Merchandise Inventory Dec. 1 100,000.00 Purchase Return and Allowance 10,000.00 Other Sales Discount 1,800.00 Selling Expenses 4,000.00 General Expenses 12,000.00 Gross Profit Net Income for the Month 100,000.00 Other Purchase Discount 3,400.00 Salaries Expenses 20.000.00 Rent Expenses 4,000.00 Net Profit from Operation ? Merchandise Inventory Dec. 31 271,400.00 Total Cost of Goods Sold ?
Transcribed Image Text:Prepare a detailed Statement of Comprehensive Income of A & Z Trading. Arrange the title of the following account in its proper position. a. How much is the total net revenue? b. How much is the total net profit from the operation? c. How much is the total gross profit? d. How much is the total cost of goods sold Sales Revenue ? Purchases 698,000.00 Freight In 3,000.00 Sales Return and Allowance 12,000.00 Net Sales 658,000.00 Merchandise Inventory Dec. 1 100,000.00 Purchase Return and Allowance 10,000.00 Other Sales Discount 1,800.00 Selling Expenses 4,000.00 General Expenses 12,000.00 Gross Profit Net Income for the Month 100,000.00 Other Purchase Discount 3,400.00 Salaries Expenses 20.000.00 Rent Expenses 4,000.00 Net Profit from Operation ? Merchandise Inventory Dec. 31 271,400.00 Total Cost of Goods Sold ?
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