Homework Answers
Fill missing amount
| Allen cosmetics | Bast Grocery | Corr wholesalers | |
| Sales revenue | 90000 | e) 5000+95000 = 100000 | 122000 |
| Sales return and allowance | a) 90000-86000 = 4000 | 5000 | 12000 |
| Net Sales | 86000 | 95000 | i) 122000-12000 = 110000 |
| Cost of goods sold | 56000 | f) 95000-38000 = 57000 | j) 110000-24000 = 86000 |
| Gross profit | b) 86000-56000 = 30000 | 38000 | 24000 |
| Operating expense | 15000 | g)38000-18000 = 20000 | 18000 |
| Income from operation | c) 30000-15000 = 15000 | h) 11000+7000 = 18000 | k) 24000-18000 = 6000 |
| Other expenses and losses | 4000 | 7000 | l) 6000-5000 = 1000 |
| Net income | d) 15000-4000 = 11000 | 11000 | 5000 |
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Presented below is financial information for two different
companies.
Compute the missing amounts.
Stellar Company
Pearl Company
Sales revenue
81,200
(d)
Sales returns and allowances
(a)
5,450
Net sales
80,740
85,710
Cost of goods sold
57,090
(e)
Gross profit
(b)
36,450
Operating expenses
15,680
23,960
Net income
(c)
12,490
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