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    Lady D's Avatar
    Lady D Posts: 3, Reputation: 1
    New Member
     
    #1

    May 1, 2008, 02:12 PM
    Calculating revenues, expenses, and income
    Please help
    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's Avatar
    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's Avatar
    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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