Using your accounting knowledge, find the missing amounts in the following incom

Question

Using your accounting knowledge, find the missing amounts in the following income statements $62.0001 $43.500| $46,000 $25,600 Sales Cost of goods sold 8,000 17,0507,5008,0004,560 Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold 38,000 32,000 6,600 (3,000) (9,000) (6,600) 34,050 16,000 7,000 3,750 45 600 Gross profit Expenses Net income (loss) 10,000 10.65012.1503,6006,000 $ 16 850r8.400) 42 000 References eBook & Resources

Explanation / Answer

A B C D E Sales 62000 43500 46000 79000 25600 Cost of Goods sold Merchandise inventory (beg) 8000 17050 7500 8000 4500 Total cost of Merchandise purchases 38000 1950 43750 32000 6600 Merchandise inventry (ending) -11950 -3,000 -9,000 -6,600.00 -4100 Cost of Goods sod 34050 16,000 42,250 33,400.00 7000 Gross profit 27950 27,500 3,750 45600 18600 Expensse 10000 10650 12150 3600 6000 Net income / (loss) 17950 16850 -8400 42000 12600

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