Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete the following questions Question (1): complete the following questions: (14 Marks) 1- .................. -( ......... + ....... + purchase discount)+ ......... 2- Gross income

Complete the following questions

image text in transcribed
Question (1): complete the following questions: (14 Marks) 1- .................. -( ......... + ....... + purchase discount)+ ......... 2- Gross income = ........ - ......... 3- ........ = ....... + non operating revenue - 4- ....... = net purchase + ....... 5 .......... = ......... - ( .......... + administrative expense) 6- .......... = total sales ( ....... + ...... + ........ ) 7- Cost ofgoods sold = ...........- _Question (2); (A) complete the following multiple ste income statement :( 4 Marks) Net Sales ?? Less cost of goods sold (450000) Gross income 150000 Less operating expense Marketing expense ?? Administrative expense 30000 ('2?) Net income from Operation 80000 Add non operating revenue 25000 Less non operating expense ('2'?) Final net income 100000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Interpreting And Analyzing Financial Statements

Authors: Karen P Schoenebeck, Mark P Holtzman

5th Edition

0136121985, 9780136121985

More Books

Students also viewed these Accounting questions

Question

Behaviour: What am I doing?

Answered: 1 week ago