Sales revenue   $104,000   $enter a dollar amount  Sales returns and allowances   enter a dollar amount    4,000 Net sales   98,000   129,000 Cost of goods sold   64,600   enter a dollar amount Gross profit   enter a dollar amount   56,760 Operating expenses   20,400   enter a dollar amount Net income   enter a dollar amount   21,930   Fill in the missing amounts.

Q: Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700 Sales discounts 5,000 17,500 600 4,800 Sales returns…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses $109,000 $ Net…

A: Net profit is the amount of sales revenue left after paying all the operating expenses incurred…

Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses Net Profit ($)…

A: Introduction: Net profit: Deduction of all expenses from revenues derives the net profit. Net profit…

Q: Prepare the necessary disclosures required by GAAP

A: ANSWER : Disclosures required by GAAP are given below :

Q: FILL - UP THE MISSING AMOUNTS: Sales 3,593,800 Cost of Goods Sold 2,450,300 Gross Profit Expenses…

A: The gross profit is calculated as difference between sales and cost of goods sold. The net income is…

Q: Determining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million.…

A: Gross Profit = Sales - Cost of Goods Sold

Q: Sales $ 435,000 Variable expenses: Cost of goods sold $ 304,500 Administrative expense 21,750…

A: The income statement is referred to as a statement of operations, a profit and loss statement, or a…

Q: Cost of Sales Net Beg Net Ending Goods Sales returns Sales Inventory Purchases Inventory Sold 5,000…

A: Cost of goods sold: Cost of goods sold refers to the total expenses that are incurred by an…

Q: Sales $640,363 Merchandise Inventory $582,620 Sales discounts $58,040 Interest expense $3,677 Sales…

A: Gross margin is the excess of sales over cost of goods sold during the year.

Q: Insurance expense 18,200 Administrative Salaries expense 16,300 Sales revenue 160,000 Income…

A: Total administrative expenses are those which are not directly concerned with the product but also…

Q: Gross sales $ 19,000 $ 15,000 Sales returns and allowances   1,000   100 Net sales $ 18,000 $ 14,900…

A: Given 2020 &2019 Current Assets Current assets:   2020   2019 Cash $ 12,000 $ 9,000…

Q: 4. The records of Ree-ree Co. show the following information:     Increase in Accounts Payable…

A: The cost of goods sold is calculated as: Opening inventory + Purchases - Ending inventory

Q: Sales revenue $7 700 000 Cost of goods sold Beginning inventory $1 900 000 Purchases 4 400 000 Goods…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: Sales Cost of Sales Net Beg Net Ending Goods returns Sales Inventory Purchases Inventory Sold 5,000…

A: Sales revenue: Sales revenue is the amount earned by the company by selling the goods or providing…

Q: Gross Sales Sales returns Goods Sold Net Ending Profit Beg Inventory Purchases Inventory Net Sales…

A: Formula: Net sales = Sales - Sales returns

Q: Net sales revenue $280,000 Cost of goods sold 120,000 Beginning inventory 5,000 Ending…

A: Gross Profit is computed by subtracting the cost of goods sold from the sales revenue. Gross Profit…

Q: Sales P950,000 (credit)Sales returns and allowances 15,000 (debit)Sales discounts 10,000…

A: Net sales = Sales - Sales returns - Sales discount

Q: Cost of Goods Gross Sales Net Ending Profit Beg Inventory Purchases Inventory Net Sales returns…

A: Formula: Gross profit = Net sales - cost of goods sold

Q: 15. Sales revenue Cost of goods sold Sales discounts P480,000 300,000 20,000 15,000 Sales returns…

A: Net Sales means sales revenue after deducting all the sales discounts and sales returns, allowances…

Q: 7YReferring to the following table, what is Net sales revenue? Sales revenue $460,000| Cost of goods…

A: Formula: Net sales revenue = Sales revenue - Sales discounts - Sales returns and allowances

Q: Make the closing entries in the major general

A: Closing Entry: A closing entry is a journal entry passed at the end of an accounting period to…

Q: P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 80,000 120,000 Sales Sales Returns…

A: Cost of goods available for sales include the beginning inventory, and purchase of inventory during…

Q: Sales revenue (all on account) $10,177,250 $9,614,00C Cost of goods sold 5,611,750 5,298,750 Gross…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: 7)Refemng to the following table, what is Net sales revemue? $460,000 Sales revenue Cost of goods…

A: Formula: Net sales revenue = Sales revenue - sales discounts - sales returns and allowances

Q: Sales 750,000 Sales Returns and Allowances 15.000 Sales Discounts 10.000 Purchases 170.000 Purchases…

A: Cost of goods sold = Beginning inventory merchandise + Net Purchases + Transportation in -  Ending…

Q: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685…

A: Times Interest Earned Ratio or TIE, measures the firm's ability to meet its debt obligations on a…

Q: Net sales 74,000 90,000 Cost of goods sold 51,800 Gross profit 28,800 Operating expenses 13,320 Net…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: SERVICE REMENUE Sales revenue, net Cost of goods sold Gross profit $ 281,000 120,000 161,000…

A: Net profit margin = Net profit / Revenue

Q: Sales revenue $350,000 Accounts receivable $280,000 Ending inventory $230,000 Cost of goods…

A: Gross profit: Difference between the sales and the cost of goods sold is called gross profit. Gross…

Q: Sales, gross $ 275,000   Sales returns and allowances $ 18,000   Sales discounts   5,500   Sales…

A: Net Sales = Gross sales - Sales returns and allowances - Sales discounts

Q: 301,000 129,000 217,000 93,000 Cost of goods sold Gross margin Selling and administrative expenses:…

A:

Q: How much is the gross profit? 89,000 82,000 99,000 94,000 How much is the cost of goods sold?…

A: Net Sales = Sales - Sales Discount - Sales Returns = 230000 - 7000 - 15000 = 208000 Ending Inventory…

Q: $90,000 (a) 81,000 56,000 (b) 15,000 (c) (d) $ 5,000 95,000 (e) 41,500 (f) 15,000 Sales Sales…

A:

Q: Sales $ 150,000   $ 550,000   $ 38,700   $ 255,700 Sales discounts   5,000     17,500     600…

A: Formula: Net sales = Sales - Sales discount - Sales returns and allowances. Deduction of sales…

Q: Selling Expenses %24 11,500 Interest Revenue 1,900 Net Sales Revenue 122,000 Cost of Goods Sold…

A: An income statement is a financial statement that is prepared by the business organization, which…

Q: Cost of Goods Sold $ 164,000 Income Tax Expense Merchandise Sales (gross revenue) for Cash 238,000…

A: Formula: Gross profit = ( Gross profit / net sales ) x 100

Q: 240,000 30,000 200,000 100,000 15,000 55,000 Net Sales 12,000 Beginning Inventory Net Cost of…

A: In accounting terms, Net sales are defined as the revenues earned by the entity through business…

Q: Sales 460,000 Cost of goods sold 300,000 Operating expenses 85,000 Sales discounts 20,000 Sales…

A: Solution: Net sales = Sales - Sales discounts - sales return and allowances = 460000 - 20000 - 15000…

Q: Sales Ending Goods Sold Net Profit Beg Inventory Purchases Inventory Net Sales returns Sales (Loss)…

A: Net sales = Sales -  Sales Return  Net purchases = Purchases - Purchase Return  Cost of goods sold =…

Q: Income Statement Balance Sheet $ 98,500 (62,000) (18,000) (9,000) Sales Cost of Goods Sold Salaries…

A: Operating cash flows refers to cash generated by the regular operating activities of a company in a…

Q: Sales- 750,000 Sales returns and allowances- 15,000 Sales discounts- 10,000 Purchases- 170,000…

A: Net sales = Sales - Sales returns and allowances - Sales discounts = 750,000 - 15000 - 10000 =…

Q: Sales . . . . . . . . . . . . . . . . . . . . . . . . $300,000 Sales returns . . . . . . . . . . . .…

A: Operating expenses are expenses incurred for the operation of the business. Cost of goods sold is…

Q: Prob current year: 5,250,000 150,000 250,000 Purchases Purchase returns and allowances Rental income…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: Sales Revenue 275,000.00 Cost of Goods Sold Accounts Payable 100,000.00 7,500.00 9,000.00 Inventory…

A: The cash flow statement shows the company's cash inflow and cash outflow during the period. It…

Q: ales $910,000 oss on sale of equipment $8,000 Cost of goods sold $495,000 Operating expense $175,000…

A: Solution: Net sales is the sales reduced by sales returns and allowances. Operating income is…