E5-8 and E5-9

WHIL Calculate missing SE Footware $275,000 20,000 amounts (SOS) AP 25,000 (c) Calculate cost of goods in (d) Calculate the net sales and gross profit that Delta cum Es-48 Financial information follows for three different companies Natural Cosmetics Mattar Grocery Sales $215.000 (e) Sales returns and allowances (a) 201.000 335,000 Cost of goods sold 99,000 Gross profit (b) 195,000 Operating expenses 45,000 Profit from operations (c) (h) 10,000 (d) 63,000 Merchandise inventory Additional information: 1. Of the notes payable, $6,000 beco 2. On July 18, 2014, Rikard invested Instructions (a) Prepare a multiple-step income s (b) Calculate the gross profit margin E5-11 Toys R Us, Inc. reported the fo 5.000 Prepare single-step and multiple-step statements, closing entries, and post-closing trial balance-perpetual system. (SO 4, 5) AP Net sales 0) 150,000 95,000 (k) (1) Other expenses 41.000 Profit Instructions Determine the missing amounts. Es9 The following is information from Lefebvre Company's adjusted trial balance at December 31, 2014 Debit Credit Cash $ 75,700 Notes receivable 100,000 Merchandise inventory 70,000 Equipment 450,000 Accumulated depreciation-equipment $ 135,000 Unearned revenue 8,000 Notes payable 175,000 C. Lefebvre, capital 235,000 C. Lefebvre, drawings 150,000 Interest revenue 10,000 24,000 Sales 1,980,000 Advertising expense 55,000 Cost of goods sold 851,500 Depreciation expense 45,000 Freight out 25,000 15,000 10,500 Sales discounts Sales returns and allowances 59,400 Rent revenue Net sales Cost of goods sold Profit from operations Profit Instructions (a) Calculate the gross profit margi (b) Recalculate profit margin using (c) Comment on whether the ratio *E5-12 Data for Olaf Company and Instructions (a) Prepare the journal entries to periodic inventory system inste (b) Prepare the journal entries to periodic inventory system inst *E5-13 Data for Pippen Company ar Instructions (a) Prepare the journal entries to a periodic inventory system is (b) Prepare the journal entries to periodic inventory system is *E5 14 Memories Company comm ventory system. During July, Memo July 2 Purchased $15,000 of me ping point 3 Returned $1,200 of merch from Suppliers 4 Paid $500 of freight costs 8 Sold merchandise for $2 11 Paid Suppliers Inc. the fu 15 Sold merchandise for $6 25 Received full payment fo 31 Memories did a physical Insurance expense Interest expense Salaries expense 650,000 9,900 $2,567,000 $2,567,000 Prepare financial state ments and calculate ratios-Perpetual system. Instructions a) Prepare a single-step income statement Xb) Prepare a multiple-step income statement (c) Prepare closing entries and a post-closing trial balance. E5-10 An alphabetical list of Rikard's adjusted