Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) a 8,000 59,000 $ 68,000 $ 43,600 $ 56,000 33,720 b 22,000 с 16,950 6,500 7,400 29,000 (2,500) (8,100) (7,100) 17,000 d 48,200 4,400 3,200 10,420 10,620 $ 16,180 S (7,420) $43,800 $ 25,500 4,550 5,200 7,600 6,800
Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) a 8,000 59,000 $ 68,000 $ 43,600 $ 56,000 33,720 b 22,000 с 16,950 6,500 7,400 29,000 (2,500) (8,100) (7,100) 17,000 d 48,200 4,400 3,200 10,420 10,620 $ 16,180 S (7,420) $43,800 $ 25,500 4,550 5,200 7,600 6,800
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 40E: Identify items missing in determining cost of goods sold For (a) through (e), identify the items...
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Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.)
Transcribed Image Text:Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus
sign.)
Sales
Cost of goods sold
Merchandise inventory (beginning)
Total cost of merchandise purchases
Merchandise inventory (ending)
Cost of goods sold
Gross profit
Expenses
Net income (loss)
a
$ 68,000
8,000
59,000
33,720
22,000
b
$ 43,600
16,950
с
$ 56,000
6,500
(2,500) (8,100)
17,000
d
7,400
29,000
(7,100)
3,200
48,200
10,420
10,620
4,400
$ 16,180 $ (7,420) $ 43,800
e
$ 25,500
4,550
5,200
7,600
6,800
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