Question
1 Sales Revenue $800 Beginning Inventory $100 Purchases $700 Available for Sale ? Ending Inventory $500 Cost of Goods Sold ? Gross Profit ? Operating
1 -
Sales Revenue $800 Beginning Inventory $100 Purchases $700 Available for Sale ? Ending Inventory $500 Cost of Goods Sold ? Gross Profit ? Operating Expenses $200 Net Income ?
The missing dollar amounts are:
Goods Available forSale $800
Cost of Goods Sold $300
Gross Profit $500
Net income - $300
Goods Available forSale $900
Cost of Goods Sold $300
Gross Profit $500
Net income - $400
Goods Available forSale $800
Cost of Goods Sold $600
Gross Profit $200
Net income - $50
Goods Available forSale $800
Cost of Goods Sold $300
Gross Profit $400
Net income - $400
| Sales Revenue | $800 |
| Beginning Inventory | $100 |
| Purchases | $700 |
| Available for Sale | ? |
| Ending Inventory | $500 |
| Cost of Goods Sold | ? |
| Gross Profit | ? |
| Operating Expenses | $200 |
| Net Income | ? |
The missing dollar amounts are:
| Goods Available forSale $800 Cost of Goods Sold $300 Gross Profit $500 Net income - $300 |
| Goods Available forSale $900 Cost of Goods Sold $300 Gross Profit $500 Net income - $400 |
| Goods Available forSale $800 Cost of Goods Sold $600 Gross Profit $200 Net income - $50 |
| Goods Available forSale $800 Cost of Goods Sold $300 Gross Profit $400 Net income - $400 |
0 points
QUESTION 2-
Sales Revenue $900 Beginning Inventory $200 Purchases $700 Available for Sale ? Ending Inventory ? Cost of Goods Sold ? Gross Profit ? Operating Expenses $150 Net Income $0 The missing dollar amounts are:
Goods Available forSale $300
Ending Inventory $150
Cost of Goods Sold $600
Gross Profit $300
Goods Available forSale $900
Ending Inventory $150
Cost of Goods Sold $750
Gross Profit $150
Goods Available forSale $300
Ending Inventory $150
Cost of Goods Sold $750
Gross Profit $100
Goods Available forSale $300
Ending Inventory $100
Cost of Goods Sold $800
Gross Profit $200
0 points
QUESTION 3-
Sales Revenue ? Beginning Inventory $150 Purchases ? Available for Sale ? Ending Inventory $250 Cost of Goods Sold $200 Gross Profit $400 Operating Expenses $100 Net Income ? The missing dollar amounts are:
Sales Revenue - $600
Purchases - $250
Goods Available forSale $500
Net income - $300
Sales Revenue - $800
Purchases - $300
Goods Available forSale $450
Net income - $500
Sales Revenue - $600
Purchases - $300
Goods Available forSale $450
Net income - $300
Sales Revenue - $600
Purchases - $200
Goods Available forSale $350
Net income - $300
0 points
QUESTION 4-
Sales Revenue $800 Beginning Inventory ? Purchases $600 Available for Sale ? Ending Inventory $250 Cost of Goods Sold ? Gross Profit ? Operating Expenses $250 Net Income $100 The missing dollar amounts are:
Beginning Inventory - $100
Goods Available forSale $600
Cost of Goods Sold $350
Gross Profit $350
Beginning Inventory - $300
Goods Available forSale $500
Cost of Goods Sold $550
Gross Profit $450
Beginning Inventory - $200
Goods Available forSale $800
Cost of Goods Sold $450
Gross Profit $350
Beginning Inventory - $100
Goods Available forSale $700
Cost of Goods Sold $450
Gross Profit $350
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Intermediate Accounting
Authors: Kin Lo, George Fisher
3rd Edition Vol. 1
133865940, 133865943, 978-7300071374
