Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the...
Determining Amounts for Items Omitted from Income Statement
One item is omitted in each of the following four lists of income statement data.
| Sales | $463,250 | (b) | $1,239,000 | (d) |
| Cost of merchandise sold | (a) | $330,750 | (c) | $437,125 |
| Gross profit | 83,940 | 83,830 | 464,000 | 123,655 |
Determine the missing amount.
| a. | $ |
| b. | $ |
| c. | $ |
| d. | $ |
Homework Answers
(a) Cost of merchandise sold = Sales - Gross profit = $463,250 - $83,940 = $379,310
(b) Sales = Cost of merchandise sold + Gross profit = $330,750 + $83,830 = $414,580
(c) Cost of merchandise sold = Sales - Gross profit = $1,239,000 - $464,000 = $775,000
(d) Sales = Cost of merchandise sold + Gross profit = $437,125 + $123,655 = $560,780
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Determining Amounts for Items Omitted from Income Statement
One item is omitted in each of the...
Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the...
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Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the...
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Help solving Cengage Accounting I exercise Determining Amounts for Items Omitted from Income Statement $1,239,000 One...
Help solving Cengage Accounting I exercise
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Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the following four lists of income statement data. Sales $438,750 (d) (b) $330,750 Cost of merchandise sold (a) 83,830 $1,245,000 (c) 465,950 $438,375 123,635 Gross profit 83,720 Determine the missing amount. o ó jo
Determining Amounts for Items Omitted from Income Statement Sales One item is omitted in each of the following four lists of income statement data. Sales $442,500 Cost of merchandise sold $329,000 Gross profit 83,720 84,380 Determine the missing amount. ,239,000 (c) $438,875 123,605 464,000 0 b. $
Help solving Cengage Accounting I exercise
Determining Amounts for Items Omitted from Income Statement $1,239,000 One item is omitted in each of the following four lists of income statement data. Sales $432,500 (b) Cost of merchandise sold (a) $336,700 Gross profit 84.270 Determine the missing amount. a. $ 84,380 459,950 124,135 b. s
Determining Amounts for Items Omitted from Income Statement An item has been omitted in each of the following four lists of income statement data. Determine the missing amount. Chase Company Jessup Inc. Osterman Company Snyder Co. Sales $442,500 $ $1,130,000 Cost of goods sold $403,500 $422,800 Gross profit $80,200 $273,400 $349,900 $264,600
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