ACCT 2301 Using your accounting knowledge, find the missing amounts in the following separate income statements a through e. (A+)

ACCT 2301 Using your accounting knowledge, find the missing amounts in the following separate income statements a through e. (Amounts to be deducted should be indicated with a minus sign. Omit the \”$\” sign in your response.)

a b c d e

Sales $60,000 $42,500 $36,000 $ $23,600

Cost of goods sold Merchandise inventory (beginning)6,000 17,050 7,500 7,000 2,560

Total cost of merchandise purchases36,000 32,000 5,600

Merchandise inventory (ending) (2,700 ) (9,000 ) (6,600 )

Cost of goods sold 34,050 15,900 5,600 Gross profit 3,750 45,600

Expenses 9,000 10,650 12,150 2,600 6,000

Net income (loss) $ $15,950 $(8,400) $43,000 $

Click here for the SOLUTION

This entry was posted in Homework Help. Bookmark the permalink.

Comments are closed.