Please do not give solution in image format thanku Sales revenueCost of goods soldBeginning inventory $1,840,000PurchasesGoods available forsaleEnding inventory$6,630,0004,520,0006,360,0001,530,000Cost of goods sold4,830,000Gross profit1,800,000Operating expensesSelling expenses450,000Administrative660,0001,110,000expenses$690,000Net incomeAdditional information:1. Accounts receivable decreased $290,000 during the year.2. Prepaid expenses Increased $180,000 during the year.3. Accounts payable to suppliers of merchandise decreased $260,000 during the year.4. Accrued expenses payable decreased $120,000 during the year.5. Administrative expenses include depreciation expense of $60,000.Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, for Monty Company, using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)MONTY COMPANYStatement of Cash Flows (Partial)Adjustments to reconcile net income to$

Under indirect operating cash flow method, we start with the net income or loss for the period. Next…

Answered: Sales revenue Cost of goods sold…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...

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Sales Sales Returns & Allowances Sales Discount Purchases Freight in Purchase Renurns & Allowances Purchase Discount Beginning Inventory Ending Inventory Operating expenses Other Income Otber Expenses P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 80,000 120,000 16,000 3,000 How much is the cost of goods available for sale? P 4E0.000 P 472,000 P448,000 P 470,000
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Cost of Goods Sold Beginning Inventory Add: Purchases Freight-in Direct Labor Indirect Expenses Inventory Available Less: Ending Inventory Cost of Goods Sold Gross Profit (Loss) Sales Budget Actual Sales $ 604,461.00 $ 97,400.00 Less Cost of Sales $ 91,421.57 $ 14,731.24 Net Sales $ 513,039.43 $ 82,668.76 Operating Expenses Accounting $ 53,040.00 $ 8,840.00 Advertising $ 15,000.00 $ 2,400.00 Wages $ 128,000.00 $ 21,500.00 Vehicle Expense $ 3,600.00 $ 700.00 Bank Charges $ 2,400.00 $ 400.00 Printing $ 4,800.00 $ 600.00 Insurance $ 15,600.00 $ 2,600.00 Interest Expense $ 3,600.00 $ 625.00 Taxes $ 12,000.00 $ 2,250.00 Rent $ 28,800.00 $ 4,900.00 Telephone $ 4,800.00…
Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100Cost of goods sold 19,000 49,500 265,900 19,300 30,200Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Prepare the necessary disclosures required by GAAP
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Income Statement Sales Revenue Cost of Goods Sold* Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income *Cost of Goods Sold Equation Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold Units 3,000 3,000 $ $ 3,000 $ FIFO Inventory Costing Method LIFO 3,000 3,000 3,000 3,000 0 0 0 0 0 0 0 Weighted Average $ $ 0 0 0 0 0
Sales Revenue Cost of Goods Manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory Selling Expenses Administrative Expenses What is the gross profit? O A. $14,300 OB. $32,800 OC. $23,800 OD. $20,200 $53,000 22,000 1,800 3,600 15,000 3,500
Financial information is presented below: Operating Expenses $56000 Sales Revenue Cost of Goods Sold Gross profit would be $48000. $238000. $182000. $104000. 238000 134000
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 30,000
Financial information is presented below: Operating Expenses Sales Returns and Allowances Sales Discounts Sales Revenue Cost of Goods Sold Gross profit would be O $126400. O $144500. O $113700. O $24200. $ 89500 18100 12700 319200 174700
Find COGS?
What are the sales, beginning inventory, COGP, COGA, Ending inventory, COGS, and Gross Profit as stated on the green sheet.

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