FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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E6-6 (Algo) Inferring Missing Amounts Based on Income Statement Relationships [LO 6-2, LO 6-6] Supply the missing dollar amounts for each of the following independent cases: Cases A B с D Sales Beginning Revenue Inventory $ 1,100 $ 970 890 Purchases 200 $ 270 150 675 750 620 Total Available Ending Inventory $ 475 250 350 Cost of Goods Sold 250 Gross Profit 470 Selling and General Expenses $ 225 175 200 275 Income from Operations 25 125
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Transcribed Image Text:E6-6 (Algo) Inferring Missing Amounts Based on Income Statement Relationships [LO 6-2, LO 6-6] Supply the missing dollar amounts for each of the following independent cases: Cases A B с D Sales Beginning Revenue Inventory $ 1,100 $ 970 890 Purchases 200 $ 270 150 675 750 620 Total Available Ending Inventory $ 475 250 350 Cost of Goods Sold 250 Gross Profit 470 Selling and General Expenses $ 225 175 200 275 Income from Operations 25 125
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Step 1: Introduction
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Step 2: Working note #1:- For case A
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Step 3: Working note #2:- For case B
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Step 4: Working note #3:- For case 3
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Step 5: Working note #4:- For case 4
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