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Business
Accounting
Purchases Sales revenue Interest revenue Salary expense Freight in Purchase discounts Sales returns and allowances Interest expense P330,000 470,000 23,000 45,000 17,000 31,000 40,000 18,000 Delivery expense Sales discounts Insurance expense Purchase returns and allow. 49,000 J. Maramba, capital Utilities expense 24,000 27,000 16,000 35,000 14,000 Depreciation expense-equipment J. Maramba, withdrawals 10,000 18.000 The beginning and ending amounts for inventory are P58,000 and P65,000, respectively. Calculate the following for , Net sales revenue Net purchases Cost of goods available for sale Cost of goods sold Gross margin Operating income Net income

Purchases Sales revenue Interest revenue Salary expense Freight in Purchase discounts Sales returns and allowances Interest expense P330,000 470,000 23,000 45,000 17,000 31,000 40,000 18,000 Delivery expense Sales discounts Insurance expense Purchase returns and allow. 49,000 J. Maramba, capital Utilities expense 24,000 27,000 16,000 35,000 14,000 Depreciation expense-equipment J. Maramba, withdrawals 10,000 18.000 The beginning and ending amounts for inventory are P58,000 and P65,000, respectively. Calculate the following for , Net sales revenue Net purchases Cost of goods available for sale Cost of goods sold Gross margin Operating income Net income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Purchases Sales revenue Interest revenue P330,000 470,000 23,000 45,000 17,000 31,000 40,000 18,000: J. Maramba, withdrawals Delivery expense Sales discounts Insurance expense Purchase returns and allow. 49,000 J. Maramba, capital Utilities expense Depreciation expense-equipment 24,000 27,000 16,000 Salary expense Freight in Purchase discounts Sales returns and allowances hterest expense 35,000 14,000 10,000 18,000 The beginning and ending amounts for inventory are P58,000 and P65,000, respectively. Calculate the following for , Net sales revenue Net purchases Cost of goods available for sale Cost of goods sold Gross margin Operating income Net income
Transcribed Image Text:Purchases Sales revenue Interest revenue P330,000 470,000 23,000 45,000 17,000 31,000 40,000 18,000: J. Maramba, withdrawals Delivery expense Sales discounts Insurance expense Purchase returns and allow. 49,000 J. Maramba, capital Utilities expense Depreciation expense-equipment 24,000 27,000 16,000 Salary expense Freight in Purchase discounts Sales returns and allowances hterest expense 35,000 14,000 10,000 18,000 The beginning and ending amounts for inventory are P58,000 and P65,000, respectively. Calculate the following for , Net sales revenue Net purchases Cost of goods available for sale Cost of goods sold Gross margin Operating income Net income
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