Using your accounting knowledge, find the missing amounts in the following separ

Question

Using your accounting knowledge, find the missing amounts in the following separate income statements through e. (Amounts to be deducted should be indicated by a minus sign.)

(Accounting ) Need help ASAP

Using your accounting knowledge, find the missing amounts in the following separate income statements through e. (Amounts to be deducted should be indicated by a minus sign.)

?× ? C ? Not secure ezto.mheducation.com/hm.tpx ? Bank of America l Or DIslamic-Wordsearc 12. 12.00 points Using your accounting knowledge, find the missing amounts in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) Sales 62,000 $43,500 $ 46,000 $ 25,600 Cost of goods sold 7,500 4,560 8,000 38,000 17,050 Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold 8,000 32,000 (6,600) 6,600 (3,000) 16,000 (9,000) 34,050 7,000 Gross proft Expenses Net income (oss) 45,600 3,600 (8,400) $ 42,000 3,750 10,000 10,650 12,150 6,000

Explanation / Answer

Solution:

Particulars a b c d e Sales $62,000.00 $43,500.00 $46,000.00 $79,000.00 $25,600.00 Cost of goods sold: Merchandise inventory (beginning) $8,000.00 $17,050.00 $7,500.00 $8,000.00 $4,560.00 Total cost of merchandise purchases $38,000.00 $1,950.00 $43,750.00 $32,000.00 $6,600.00 Merchandise inventory (ending) -$11,950.00 -$3,000.00 -$9,000.00 -$6,600.00 -$4,160.00 Cost of goods sold $34,050.00 $16,000.00 $42,250.00 $33,400.00 $7,000.00 Gross Profit $27,950.00 $27,500.00 $3,750.00 $45,600.00 $18,600.00 Expenses $10,000.00 $10,650.00 $12,150.00 $3,600.00 $6,000.00 Net Income (Loss) $17,950.00 $16,850.00 -$8,400.00 $42,000.00 $12,600.00

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.