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Chapter 12- Homework X CengageNOWv2 | Online te X *Homework Help - Q&A fron x C Chegg Search X Mail - Ocegueda, Skie - Ou

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Chapter 12- Homework X CengageNOWv2 | Online te X *Homework Help - Q&A fron x C Chegg Search X Mail - Ocegueda, Skie - Ou x Lesson 14: Managing Distri X + -7 C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Chapter 12- Homework Video 1. EX. 12-01 ? LO1 2. EX. 12-02 The outline of the income statement looks like this: 3. EX. 12-03 Gross Sales Revenue from - Sales Returns and Allowances 4. EX. 12-04 Sales - Sales Discounts = Net Sales 5. EX. 12-05 Beginning Merchandise Inventory Gross Purchases 6. EX. 12-06 - Purchases Returns and Allowances + Delivered - Purchases Discounts Cost of Goods Cost of + Freight In 7. EX. 12-07 Sold Purchases Delivered Cost of Purchases 8. EX. 12-08 Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold 9. MP. 12-01.PART1 = Gross Profit Operating Selling Expenses 10. MP. 12-01.PART2 General Expenses Expenses Income from 11. MP. 12-01.PART3 Operations Interest Income 12. MP. 12-01.PART4 + Other Income Rent Income Gain on Disposal of Property and Equipment 13. MP. 12-02 - Other Interest Expense Expenses Loss on Disposal of Property and Equipment 14. MP. 12-03 = Net Income 15. MP. 12-04 Following is the information from Wesley Manufacturing Company: Purchases Discounts $ 5,000 16. MP. 12-05 Merchandise Inventory, December 31 175,000 17. MP. 12-06 Progress: 13/17 items Check My Work Previous Next Assignment Score: 73.24% All work saved. Email Instructor Save and Exit Submit Assignment for GradingChapter 12- Homework X CengageNOWv2 | Online te X *Homework Help - Q&A fron x C Chegg Search X Mail - Ocegueda, Skie - Ou x Lesson 14: Managing Distri X + -7 C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Chapter 12- Homework Video 1. EX. 12-01 Following is the information from Wesley Manufacturing Company: ? 2. EX. 12-02 Purchases Discounts $ 5,000 3. EX. 12-03 Merchandise Inventory, December 31 175,000 Purchases 500,000 4. EX. 12-04 Merchandise Inventory, January 1 200,000 5. EX. 12-05 Purchases Returns and Allowances 10,000 6. EX. 12-06 Freight In 25,000 7. EX. 12-07 Using the above information, prepare the Cost of Goods Sold section of an income statement. Wesley Manufacturing Company 8. EX. 12-08 Cost of Goods Sold For the year ended on December 31, 20-- 9. MP. 12-01.PART1 Cost of Goods Sold: Merchandise Inventory, January 1, 20-- 10. MP. 12-01.PART2 Purchases V 11. MP. 12-01.PART3 Less: Purchases Returns and Allowances Less: Purchases Discounts 12. MP. 12-01.PART4 Net Purchases V 13. MP. 12-02 Add: Freight In 14. MP. 12-03 Delivered Cost of Purchases Cost of Goods Available for Sale 15. MP. 12-04 Less: Merchandise Inventory, December 31, 20-- V 16. MP. 12-05 Cost of Goods Sold 17. MP. 12-06 Progress: 13/17 items Check My Work Previous Next Assignment Score: 73.24% All work saved. Email Instructor Save and Exit Submit Assignment for Grading

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