Profit and Loss Statement Problems Open excel and set up Skeletal P&L statements in both dollars and percentages for the following problems. All P&L statements should be on the SAME excel sheet. Save your document with your LAST NAME and download here: Number each statement and Round dollar values to the nearest dollar; show percents correct to two decimal places P&L statement #1:Net sales $396,480, Gross margin 48.50%, Expenses $176,434 P&L statement #2: Profit was $225,00O, Profit percentage was 5.00% and the Cost of Goods Sold is $2.475,000. P&L statement #3: Gross sales $387,360, Customer returns & allowances 8.60%, Gross margin 44.60%, Loss (1.20%)

Profit and Loss Statement Problems Open excel and set up Skeletal P&L statements in both dollars and percentages for the following problems. All P&L statements should be on the SAME excel sheet. Save your document with your LAST NAME and download here: Number each statement and Round dollar values to the nearest dollar; show percents correct to two decimal places P&L statement #1:Net sales $396,480, Gross margin 48.50%, Expenses $176,434 P&L statement #2: Profit was $225,00O, Profit percentage was 5.00% and the Cost of Goods Sold is $2.475,000. P&L statement #3: Gross sales $387,360, Customer returns & allowances 8.60%, Gross margin 44.60%, Loss (1.20%)

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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