FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 8,800 31,000 6,030 33,770 28,230 10,000 $ 18,230 $ b 44,700 $ 53,000 16,040 C 2,400 17,000 27,700 10,590 17,110 $ 6,700 8,000 39,050 13,950 12,750 1,200 $ d 7,100 44,000 7,000 49,200 4,800 44,400 $ e 26,700 4,380 6,400 7,500 7,800
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Transcribed Image Text:Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 8,800 31,000 6,030 33,770 28,230 10,000 $ 18,230 $ b 44,700 $ 53,000 16,040 C 2,400 17,000 27,700 10,590 17,110 $ 6,700 8,000 39,050 13,950 12,750 1,200 $ d 7,100 44,000 7,000 49,200 4,800 44,400 $ e 26,700 4,380 6,400 7,500 7,800
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