Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305886803

Author: Brechner

Publisher: Cengage

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Textbook Question

Chapter 15, Problem 10AT

a. Use the following financial information to construct a 2013 income statement with vertical analysis for Jazzline Jewelers: gross sales, $1,243,000; sales returns and allowances, $76,540; sales discounts. $21,300; merchandise inventory. Jan. 1, 2013, $654,410; merchandise inventory. Dec. 31, 2013, $413,200; net purchases. $318,000; freight in. $3,450; salaries, $92,350; rent, $83,100; depreciation. $87,700; utilities. $21,350; advertising. $130,440; insurance. $7,920; miscellaneous expenses. $105,900; and income tax. $18,580.

Jazzline Jewelers

Income Statement

For the Year Ended December 31,2013

b. The following data represent Jazzline's operating results for 2014. Prepare a comparative income statement with horizontal analysis for 2013 and 2014: gross sales. $1,286,500; sales returns and allowances. $78,950; sales discounts. $18,700; merchandise inventory. Jan. 1, 2014, $687,300; merchandise inventory. Dec. 31, 2014, $401,210; net purchases. $325,400; freight in. $3,980; salaries. $99,340; rent, $85,600; depreciation. $81,200; utilities. $21,340; advertising. $124,390; insurance. $8,700; miscellaneous expenses. $101,230; and income tax. $12,650.

Jazzline Jewelers

Comparative Income Statement

For the Years Ended December 31, 2013 and 2014

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Chapter 15, Problem 9AT

Chapter 15, Problem 11AT

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Chapter 15 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 15.I - Use the following financial information to prepare...Ch. 15.I - Prob. 2TIE Ch. 15.I - Prob. 3TIE Ch. 15.I - Prob. 1RE Ch. 15.I - Prob. 2RE Ch. 15.I - Prob. 3RE Ch. 15.I - Prob. 4RE Ch. 15.I - Prob. 5RE Ch. 15.I - Prob. 6RE Ch. 15.I - Calculate the following values according to the...

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