Question

Ch 04 - Homework Saved Using your accounting knowledge, find the missing amounts in the following separate income statements. points $ 65,000 $ 44,000 $ 51,000 $ 24,400 Skipped 8,600 16,490 5,000 4,520 31,000 7,600 45,000 7,500 5,200 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 (los) eBook 8,800 2,600 20.000 33,140 7.400 24,000 11.110 12,890 3.300 10,610 (7.310) 41.100 4,000 37,100 $ $ $

Answer 1

				a	b	c	d	e
Sales				65,000	44,000	51,000	86,200	24,400
Cost of goods sold
Merchandise inventory,beginning				8,600	16,490	5,000	7,600	4,520
total cost of merchandise purchase				31,000	6,110	51,500	45,000	5,200
Merchandise inventory,ending				6,460	2,600	8,800	7,500	2,320
Cost of goods sold				33,140	20,000	47,700	45,100	7,400
Gross profit				31,860	24,000	3,300	41,100	17,000
Expenses				24,000	11,110	10,610	4,000	7,600
Net income (loss)				7,860	12,890	-7,310	37,100	9,400
	Sales - cost of goods sold= gross profit
	gross profit - expenses = net income
	cost of goods sold = beginning inventory+purchases - ending inventory