Company A Company B Company C Cash Net Sales Revenue Finished Goods Inventory Co

Question

Company A Company B Company C Cash Net Sales Revenue Finished Goods Inventory Cost of Goods Sold Selling Expenses Equipment Work-in-Process Inventory Accounts Receivable Cost of Goods Manufactured Administrative Expenses Raw Materials Inventory $ 7 Wages Expense 45 Equipment $ 16 Administrative Expenses 36Cash 24 36 9 7 52 12 2 Net Sales Revenue 39Selling Expenses 25 Merchandise Inventory 2 Accounts Receivable 30 Service Revenue 5 Cash 65 Rent Expense Equipment Accounts Receivable Cost of Goods Sold 7 21 2

Explanation / Answer

Company A $(in millions) $(in millions) Net sales revenue $           45.00 Less : Cost of goods sold $           30.00 Gross profit $           15.00 Less : Selling and administrative expenses Selling expenses $             5.00 Administrative expenses $             6.00 Total selling and administration expenses $           11.00 Operating income $             4.00 Company B $(in millions) Service revenue $           39.00 Less :- Wages expenses $           16.00 Gross profit $           23.00 Less : Rent expenses $             9.00 Operating income $           14.00 Company C $(in millions) $(in millions) Net sales revenue $           36.00 Less : Cost of goods sold $           16.00 Gross profit $           20.00 Less : Selling and administrative expenses Selling expenses $             9.00 Administrative expenses $             3.00 Total selling and administration expenses $           12.00 Operating income $             8.00

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