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A) Presented here are the components in Blossom Companys income statement. Determine the missing amounts. B) Blossom Company recorded the following events involving a recent
A) Presented here are the components in Blossom Companys income statement. Determine the missing amounts.
B) Blossom Company recorded the following events involving a recent purchase of inventory:
(1)Received goods for $11,200, terms 2/10, n/30.
(2)Returned $224 of the shipment for credit.
(3)Paid $56 freight on the shipment.
(4)Paid the invoice within the discount period.
Presented here are the components in Blossom Company's income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income $ $ 88,288 (b) $ 37,200 (d) $15,004 c) $ (e) $36,580 $133,920 $86,800 (c) $57.288 $ (0) $ (a) $89,156 $135,904 (1) (2) Received goods for $11,200, terms 2/10,n/30. Returned $224 of the shipment for credit. Paid $56 freight on the shipment Paid the invoice within the discount period. (3) (4) Use the following tabular analysis to record these transactions. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45). Round answers to decimal places, eg,5,275.) Assets Liabilities Stockholder's Equity Retained Earnings Cash Accounts Receivable Inventory Accounts Payable Common Stock Rev. Exp. Div. $ $ $ (1) $ $ $ $ (2) (3) (4)Step by Step Solution
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