Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (b) Determine

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Presented below is financial information for two different companies.

Instructions
(a) Determine the missing amounts.
(b) Determine the gross profit rates. (Round to one decimalplace.)

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Accounting Principles

ISBN: 9780471980193

8th Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel

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Question Posted: Dec 29, 2012 04:03 AM

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Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (b) Determine

Question:

Lee Company n Company $90,000d $ 5,000 98,000 Sales revenuc Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net incomc 81,000 56,000 37,500 12,000 15,000

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a missing amount a Sales revenue 90000 Sales returns 9000 ...View the full answer

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