Question

Please solve the following

Supply the missing dollar amounts for each of the following independent cases Sales Beginning Purchases Available Invent tal Ending Cost of Selling and Income from Operations ses le Inventory Goods Sold P Profit General Expenses A S5,0001,500$ 350 $150 550 500 1,750 1,050 1,400 350 800 900 1,250 1,800 1,400 1,000 600 450

Answer 1

Total Available = Beginning Inventory + Purchases

Cost of Goods Sold = Total Available - Ending Inventory

Gross Profit = Sales Revenue - Cost of Goods Sold

Income from Operations = Gross Profit - Selling and General Expenses.

Cases	Sales Revenue	Beginning Inventory	Purchases	Total Available	Ending Inventory	Cost of Goods Sold	Gross Profit	Selling and General Expenses	Income from Operations
A	$ 5,000	$ 1,500	$ 350	$ 1,850	$ 150	$ 1,700	$ 3,300	$ 550	$ 2,750
B	1,750	1,050	1,400	2,450	1,550	900	850	500	350
C	2,150	800	1,000	1,800	900	900	1,250	850	400
D	1,800	350	1,400	1,750	1,000	750	1,050	600	450

Evergreen Company:

Net Sales: $ 9,195.80

In the books of Evergreen Company:

Date	Account Titles	Debit	Credit
		$	$
July 12	Cash	1,600
	Sales		1,600
July 12	Cost of Goods Sold	900
	Inventory		900
July 15	Accounts Receivable: Claudio's Chair Company	5,600
	Sales		5,600
July 15	Cost of Goods Sold	4,100
	Inventory		4,100
July 20	Accounts Receivable : Otto's Ottomans	3,600
	Sales		3,600
July 20	Cost of Goods Sold	2,500
	Inventory		2,500
July 23	Cash	5,320
	Sales Discounts	280
	Accounts Receivable : Claudio's Chair Company		5,600
August 25	Cash	3,600
	Accounts Receivable : Otto's Ottomans		3,600