Homework Answers
| Sheridan Company | |||
| Income Statement(Partial) | |||
| Sales | |||
| * | Sales Revenue($302700+$159500)=(A) | $ 4,62,200.00 | |
| Less: (B) | |||
| Sales Return & Allowances | $ 24,950.00 | ||
| Sales Discount | $ 5,190.00 | $ 30,140.00 | |
| Net Sales (A)-(B) | $ 4,32,060.00 | ||
| * | Sales Revenue | ||
| Credit Sales | $ 3,02,700.00 | ||
| Cash Sales | $ 1,59,500.00 | ||
| Total Sales Revenue | $ 4,62,200.00 | ||
| Formula of net Sales=Sales Revenue-Sales Return & Allowances-Sales Discount | |||
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Question 3 Sheridan Company provides this information for the month ended October 31, 2017: sales on...
Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $301,200;...
Sheridan Company provides this information for the month ended October 31, 2017: sales on credit $301,200; cash sales $159,500; sales discounts $5,170; and sales returns and allowances $24,920. Prepare the sales section of the income statement based on this information.
Brief Exercise 5-5 Sunland Company provides this information for the month ended October 31, 2017: sales...
Brief Exercise 5-5 Sunland Company provides this information for the month ended October 31, 2017: sales on credit $310,000; cash sales $159,900; sales discounts $5,870; and sales returns and allowances $22,700. Prepare the sales section of the income statement based on this information SUNLAND COMPANY Income Statement (Partial) $ $ Open Show Work Click if you would like to Show Work for this question:
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales...
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales on credit $305,800; cash sales $156,000; sales discounts $5,160; and sales returns and allowances $23,490. Prepare the sales section of the multiple-step income statement based on this information. Pharoah Company Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenu...
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 72,340 -1800|(6) $32,300 23695 (a) Net Income $13,050 $111,100 $73,700 83750CC) 23695(e) $30,910 183440 ) $71,900 $116,050 $47,390 43960 CP Click if you would like to Show Work for this question: Open Show Work In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 200 units at...
Wildhorse Co, provides this information for the month ended October 31, 2017: sales on credit $305,400,...
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Context: Barto Company provides this information for the month ended October 31, 2017: sales on credit...
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Brief Exercise 5-08 Splish Brothers Inc. provides the following information for the month ended October 31,...
Brief Exercise 5-08 Splish Brothers Inc. provides the following information for the month ended October 31, 2020; sales on credit $294,000, cash sales $103,500, sales discounts $6,600, and sales returns and allowances $10,300. Prepare the sales section of the income statement based on this information. Splish Brothers Inc. Income Statement (Partial) For the Month Ended October 31, 2020For the Year Ended October 31, 2020October 31, 2020 ExpensesRetained Earnings, October 1SalesNet Income / (Loss)Total ExpensesTotal RevenuesRetained Earnings, October 31Net SalesDividends $...
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash...
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash sales $70,000; sales discounts $2,000; and sales returns and allowances $9,000. Prepare the sales revenues section of the income statement based on this information. HOYT COMPANY Income Statement (Partial) For the Month Ended November 30, 2014 Sales Returns and Allowances $ $ $
Question 4 View Policies Current Attempt in Progress Whispering Winds Corp. provides this information for the...
Question 4 View Policies Current Attempt in Progress Whispering Winds Corp. provides this information for the month ended October 31, 2022: sales on credit $307,200: cash sales $154,800: sales discounts $5.990; and sales returns and allowances $22,030 Prepard the sales section of the multiple-step income statement based on this information Whispering Winds Corp. Income Statement (Partial)
Blossom Company provides this information for the month of November, 2022: sales on credit $131,000; cash...
Blossom Company provides this information for the month of
November, 2022: sales on credit $131,000; cash sales $54,000; sales
discount $1,900; and sales returns and allowances $7,800.
Prepare the sales revenues section of the income statement based on
this information.
BLOSSOM COMPANY
Income Statement (Partial)
For
the Year Ended November 30, 2022For the Month Ended November 30,
2022November 30, 2022
enter an income statement item
$enter a dollar amount
select betweeen addition and deduction
AddLess
:
enter an income statement...
Brief Exercise 5-5 Sunland Company provides this information for the month ended October 31, 2017: sales on credit $310,000; cash sales $159,900; sales discounts $5,870; and sales returns and allowances $22,700. Prepare the sales section of the income statement based on this information SUNLAND COMPANY Income Statement (Partial) $ $ Open Show Work Click if you would like to Show Work for this question:
Brief Exercise 5-06 Pharoah Company provides this information for the month ended October 31, 2022: sales on credit $305,800; cash sales $156,000; sales discounts $5,160; and sales returns and allowances $23,490. Prepare the sales section of the multiple-step income statement based on this information. Pharoah Company Income Statement (Partial) Click if you would like to Show Work for this question: Open Show Work
Presented here are the components in Crane Company's income statement Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses $ 72,340 -1800|(6) $32,300 23695 (a) Net Income $13,050 $111,100 $73,700 83750CC) 23695(e) $30,910 183440 ) $71,900 $116,050 $47,390 43960 CP Click if you would like to Show Work for this question: Open Show Work In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 200 units at...
Wildhorse Co, provides this information for the month ended October 31, 2017: sales on credit $305,400, cash sales $154,300, sales discounts $5,130, and sales returns and allowances $23,660. Prepare the sales section of the income statement based on this information. WILDHORSE CO. Income Statement (Partial) For the Month Ended October 31, 2017 Sales Sales Returns and Allowances 23600 Sales Discounts 23600 Net Sales
Hoyt Company provides this information for the month of November, 2020: sales on credit $170,000; cash sales $70,000; sales discounts $2,000; and sales returns and allowances $9,000. Prepare the sales revenues section of the income statement based on this information. HOYT COMPANY Income Statement (Partial) For the Month Ended November 30, 2014 Sales Returns and Allowances $ $ $
Question 4 View Policies Current Attempt in Progress Whispering Winds Corp. provides this information for the month ended October 31, 2022: sales on credit $307,200: cash sales $154,800: sales discounts $5.990; and sales returns and allowances $22,030 Prepard the sales section of the multiple-step income statement based on this information Whispering Winds Corp. Income Statement (Partial)
Blossom Company provides this information for the month of
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discount $1,900; and sales returns and allowances $7,800.
Prepare the sales revenues section of the income statement based on
this information.
BLOSSOM COMPANY
Income Statement (Partial)
For
the Year Ended November 30, 2022For the Month Ended November 30,
2022November 30, 2022
enter an income statement item
$enter a dollar amount
select betweeen addition and deduction
AddLess
:
enter an income statement...
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