Fill in the blanks in the following separate income statements a through e. 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 66,000 $ 8,900 35,000 33,720 20,000 $ b 45,200 $ 16,550 2,500 18,000 11,830 15,370 $ C 50,000 6,300 8,200 14,150 12,850 1,300 $ d 7,900 35,000 6,800 43,400 5,000 38,400 $ 24,500 4,330 5,600 7,500 7,400

Fill in the blanks in the following separate income statements a through e. 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 66,000 $ 8,900 35,000 33,720 20,000 $ b 45,200 $ 16,550 2,500 18,000 11,830 15,370 $ C 50,000 6,300 8,200 14,150 12,850 1,300 $ d 7,900 35,000 6,800 43,400 5,000 38,400 $ 24,500 4,330 5,600 7,500 7,400

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 4MC: The difference between merchandise available for sale and the end-of-period merchandise inventory is...

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