Company CompanyB CompanyC Cash Net Sales Revenue Finished Goods Inventory Cost o

Question

Company CompanyB CompanyC 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 $ 12 Wages Expense 52 Equipment $ 1 S 16 Administrative Expenses 25 Cash 10 Net Sales Revenue 38 Selling Expenses 32 Merchandise Inventory 20 Equipment 6 Accounts Receivable 38 25 Service Revenue 10 43 12 16 2 Cash 62 Rent Expense 4 Accounts Receivable Cost of Goods Sold 25 4

Explanation / Answer

OPERATING INCOME OF COMPANY A Net sales revenue 52 Less: Cost of Goods sold 25 Gross Profit 27 Selling and Admin expense Selling expense 2 Admin expense 1 Total Selling and admin expense 3 Operating income 24 OPERATING INCOME OF COMPANY B: Service Revenue 38 Less: Operating expense Wages expense 16 Rent expense 20 Total operating expense 36 Net Operating income 2 OPERATING INCOME OF COMPANY C: Net sales revenue 38 Less: Cost of Goods sold 16 Gross Profit 22 Selling and Admin expense Selling expense 5 Admin expense 9 Total Selling and admin expense 14 Operating income 8

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