Homework Answers
As the other answers are correct I am giving answer only for the incorrect part.
| For 2019 : | |
| Purchases = Cost of goods sold - Beginning inventory + Ending inventory = 230630 - 20500 + 33580 | 243710 |
| For 2019 : | |
| Purchases = Cost of goods sold - Beginning inventory + Ending inventory + Purchase return and allowance - Freight in = 230630 - 20500 + 33580 + 4650 - 7840 | 240520 |
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Exercise 8-06 Your answer is partially correct. Try again. Two or more items are omitted in...
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income...
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2020 2019 $287,390 (12,020) 2021 $407,960 Sales revenue Sales returns and allowances Net sales (12,550) 349,848 33,500 19,750 Beginning inventory Ending inventory Purchases 260,460 (7,200) 8,660 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,770) 8,350 (231,210) 44,160 297,376 (10,980) 13,080 (291,795) 102,340 94,480
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income...
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2020 2019 $288,820 (11,060) 2021 $410,020 Sales revenue Sales returns and allowances Net sales (13,430) 348,998 33,650 Beginning inventory 19,210 Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 261,470 (7,800) 8,410 (5,040) 8,110 (235,200) 42,560 298,835 (10,240) 12,600 (293,080) 96,640 95,570
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income...
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $290,150 (10,340) Sales returns and allowances 357168 (13,000) 344,168 31,800 $413,850 (15820) 398030 Net sales 279810 21,130 Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 300940 275090 (4,740) 7,460 (234,220) 45,590 275968 260,890 (8,590) 8,500 (167220) 93,580 299,310 (9,690) 12,110...
*Exercise 8-6 Two or more items are omitted in each of the following tabulations of income...
*Exercise 8-6 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2017 2018 2016 $288,820 Sales revenue $410,020 Sales returns and allowances (11,060) (13,430) Net sales 348,998 Beginning inventory 19,210 33,650 Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (5,040) 8,110 (235,200) 261,470 (7,800) 8,410 298,835 (10,240) 12,600 (293,080) 96,640 42,560 95,570
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $291,720 $ $406,940 Sales returns and allowances (11,810) (12,120) Net sales 349,189 Beginning inventory 19,560 30,270 Ending inventory Purchases 258,540 296,630 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,560) 7,200 (233,850) (7,710) 9,660 (9,040) 12,630 (294,728) 46,060 90,160 91,140
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $292,550 $410,470 Sales returns and allowances (10,040) (12,050) Net sales 345,778 Beginning inventory 20,230 32,760 Ending inventory Purchases 260,310 297,101 Purchase returns and allowances (4,960) (8,640) (10,920) Freight-in 7,970 8,460 11,900 Cost of goods sold (236,970) (295,504) Gross profit on sales 45,540 90,810 103,170
Two or more items are omitted in each of the following tabulations of income statement data....
Two or more items are omitted in each of the following
tabulations of income statement data. Fill in the amounts that are
missing.
2016
2017
2018
Sales revenue
$288,650
$
$413,170
Sales returns and allowances
(11,700)
(12,650)
Net sales
344,231
Beginning inventory
19,490
30,190
Ending inventory
Purchases
260,780
297,192
Purchase returns and allowances
(5,390)
(8,590)
(9,130)
Freight-in
7,420
9,620
12,170
Cost of goods sold
(227,400)
(291,369)
Gross profit on sales
49,550
99,530
90,280
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Show...
gnment CALCULATOR Two or more items are omitted in each of the following tabulations of income...
gnment CALCULATOR Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2016 2017 2018 Sales revenue $290,990 $406,460 Sales returns and allowances (11,310) (13,570) Net sales 348,422 Beginning inventory 18,810 30,350 Ending inventory 261,520 (8,210) 9,340 Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,790) 8,610 (231,970) 47,710 296,357 (10,760) 13,020 (292,188) 91,540 85,860
Exercise 18-19 Your answer is partially correct. Try again. On June 3, 2017, Sweet Company sold...
Exercise 18-19 Your answer is partially correct. Try again. On June 3, 2017, Sweet Company sold to Ann Mount merchandise having a sales price of $8,300 (cost $6,640) with terms of n/60, f.o.b. shipping point. Sweet estimates that merchandise with a sales value of $830 will be returned. An invoice totaling $100 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon receipt of the goods, on June 8, Mount retuned to Sweet $300...
Need help please Exercise 12-06 Your answer is partially correct. Try again. The current sections of...
Need help please
Exercise 12-06 Your answer is partially correct. Try again. The current sections of Sage Hill Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sage Hill Inc.'s net income for 2022 was $292,100. Depreciation expense was $48,300. 2022 2021 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $71,300 97,750 89,700 19,550 $278,300 $ 102,350 79,350 71,300 21,850 $274,850 $ 6,900 101,200...
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2020 2019 $287,390 (12,020) 2021 $407,960 Sales revenue Sales returns and allowances Net sales (12,550) 349,848 33,500 19,750 Beginning inventory Ending inventory Purchases 260,460 (7,200) 8,660 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,770) 8,350 (231,210) 44,160 297,376 (10,980) 13,080 (291,795) 102,340 94,480
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2020 2019 $288,820 (11,060) 2021 $410,020 Sales revenue Sales returns and allowances Net sales (13,430) 348,998 33,650 Beginning inventory 19,210 Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 261,470 (7,800) 8,410 (5,040) 8,110 (235,200) 42,560 298,835 (10,240) 12,600 (293,080) 96,640 95,570
Exercise 8-06 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $290,150 (10,340) Sales returns and allowances 357168 (13,000) 344,168 31,800 $413,850 (15820) 398030 Net sales 279810 21,130 Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales 300940 275090 (4,740) 7,460 (234,220) 45,590 275968 260,890 (8,590) 8,500 (167220) 93,580 299,310 (9,690) 12,110...
*Exercise 8-6 Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2017 2018 2016 $288,820 Sales revenue $410,020 Sales returns and allowances (11,060) (13,430) Net sales 348,998 Beginning inventory 19,210 33,650 Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (5,040) 8,110 (235,200) 261,470 (7,800) 8,410 298,835 (10,240) 12,600 (293,080) 96,640 42,560 95,570
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $291,720 $ $406,940 Sales returns and allowances (11,810) (12,120) Net sales 349,189 Beginning inventory 19,560 30,270 Ending inventory Purchases 258,540 296,630 Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,560) 7,200 (233,850) (7,710) 9,660 (9,040) 12,630 (294,728) 46,060 90,160 91,140
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $292,550 $410,470 Sales returns and allowances (10,040) (12,050) Net sales 345,778 Beginning inventory 20,230 32,760 Ending inventory Purchases 260,310 297,101 Purchase returns and allowances (4,960) (8,640) (10,920) Freight-in 7,970 8,460 11,900 Cost of goods sold (236,970) (295,504) Gross profit on sales 45,540 90,810 103,170
Two or more items are omitted in each of the following
tabulations of income statement data. Fill in the amounts that are
missing.
2016
2017
2018
Sales revenue
$288,650
$
$413,170
Sales returns and allowances
(11,700)
(12,650)
Net sales
344,231
Beginning inventory
19,490
30,190
Ending inventory
Purchases
260,780
297,192
Purchase returns and allowances
(5,390)
(8,590)
(9,130)
Freight-in
7,420
9,620
12,170
Cost of goods sold
(227,400)
(291,369)
Gross profit on sales
49,550
99,530
90,280
Click if you would like to
Show...
gnment CALCULATOR Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2016 2017 2018 Sales revenue $290,990 $406,460 Sales returns and allowances (11,310) (13,570) Net sales 348,422 Beginning inventory 18,810 30,350 Ending inventory 261,520 (8,210) 9,340 Purchases Purchase returns and allowances Freight-in Cost of goods sold Gross profit on sales (4,790) 8,610 (231,970) 47,710 296,357 (10,760) 13,020 (292,188) 91,540 85,860
Exercise 18-19 Your answer is partially correct. Try again. On June 3, 2017, Sweet Company sold to Ann Mount merchandise having a sales price of $8,300 (cost $6,640) with terms of n/60, f.o.b. shipping point. Sweet estimates that merchandise with a sales value of $830 will be returned. An invoice totaling $100 was received by Mount on June 8 from Olympic Transport Service for the freight cost. Upon receipt of the goods, on June 8, Mount retuned to Sweet $300...
Need help please
Exercise 12-06 Your answer is partially correct. Try again. The current sections of Sage Hill Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Sage Hill Inc.'s net income for 2022 was $292,100. Depreciation expense was $48,300. 2022 2021 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $71,300 97,750 89,700 19,550 $278,300 $ 102,350 79,350 71,300 21,850 $274,850 $ 6,900 101,200...
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