Lady D Posts: 3, Reputation: 1 New Member #1 May 1, 2008, 02:12 PM
Calculating revenues, expenses, and income
Fill in the blanks in the following separate income statements a through e. Identify any negative
Amount by putting it in parentheses.
A b c d e
Sales.. . \$60,000 \$42,500 \$36,000 \$ ? \$23,600
Cost of goods sold
Merchandise inventory (beginning) 6,000 17,050 7,500 7,000 2,560
Total cost of merchandise purchases 36,000? 32,000 5,600
Merchandise inventory (ending).. (2,700) (9,000) (6,600) ?
Cost of goods sold.. . 34,050 15,900? 5,600
Gross profit.. 3,750 45,600 ?
Expenses.. . 9,000 10,650 12,150 2,600 6,000
Net income (loss).. . \$ ? \$15,950 \$(8,400) \$43,000 \$ ?

Thanks
 TIGGER12 Posts: 1, Reputation: 0 New Member #2 Feb 12, 2009, 10:55 AM
Calculating revenues, expenses,

And income

C1 C4

Fill in the blanks in the following separate income statements a through e. Identify any negative

Amount by putting it in parentheses.

A b c d e

Sales.. . \$60,000 \$42,500 \$36,000 \$ ? \$23,600

Cost of goods sold

Merchandise inventory (beginning).. . 6,000 17,050 7,500 7,000 2,560

Total cost of merchandise purchases.. . 36,000? 32,000 5,600

Merchandise inventory (ending).. (2,700) (9,000) (6,600) ?

Cost of goods sold.. . 34,050 15,900? 5,600

Gross profit.. 3,750 45,600 ?

Expenses.. . 9,000 10,650 12,150 2,600 6,000

Net income (loss).. . \$ ? \$15,950 \$ (8,400) \$43,000 \$ ?
 helpingu333 Posts: 2, Reputation: 1 New Member #3 Jan 20, 2012, 08:29 PM
You can attempt it and someone would help you figure out if its wrong. It very easy all plugging into the formulas. If your god with simple algebra you can do its really easy if you just read the book.

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