Question
Financial information follows for four different companies: Apple Inc. Banana Corp. Cherry Ltd. Dragon Fruit Ltd. Sales Revenue $102,000 (c) $144,000 $122,000 Sales Returns and
Financial information follows for four different companies:
| Apple Inc. | Banana Corp. | Cherry Ltd. | Dragon Fruit Ltd. | |
|---|---|---|---|---|
| Sales Revenue | $102,000 | (c) | $144,000 | $122,000 |
| Sales Returns and Allowances | (a) | $8,000 | 12,000 | 9,000 |
| Net Sales Revenue | 74,000 | 110,000 | 132,000 | (g) |
| Beginning Inventory | 23,000 | (d) | 40,000 | 24,000 |
| Purchases | 60,000 | 105,000 | (e) | 99,000 |
| Returns and Allowances | 6,000 | 10,000 | 8,000 | (h) |
| Ending Inventory | (b) | 48,000 | 30,000 | 28,000 |
| Cost of Goods Sold | 64,000 | 82,000 | (f) | 72,000 |
| Gross Profit | 10,000 | 29,000 | 18,000 | (i) |
Required
1. Determine the missing amounts for parts (a) to (i) in the table. Show all calculations after that.
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Step by Step Solution
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Amount Apple Inc Banana Corp Cherry Ltd Dragon Fruit Ltd Sales Revenue 102000 118000 144000 1220...
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
IFRS 3rd edition
1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085
