Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the following information fill in the blanks Do not enter commas, % or $ signs. Remember to use 2 decimal places for all of

image text in transcribed

Given the following information fill in the blanks Do not enter commas, % or $ signs. Remember to use 2 decimal places for all of your answers. Profit and Loss Statement End of October 2020 % Given: Closing Inventory Sept 30 2020 Opening Inventory Nov 1st 2020 S 15.256.33 Food Sales S 146,582.45 100 $ 13,586.75 Purchase Oct 7th S 7,852.33 Cost of Food Sold Purchase Oct 14th Purchase Oct 21st S 8,242.33 S 8,726.64 Gross Profit Operating Expenses Purchase Oct 28th Sales for October 2020 S 8,155.22 S146,582.45 21.50 4.40 Labour -Salaried Labour-Hourly Rent Repairs and Maintenance Operating Supplies Utilities Total Operating Expenses S 31,515.23 S 6,452.00 S 1,500.00 S 1,488.25 1.02 1.02 S 2.758.66 S 64.968.59 44.32 Income Before Tax Tax (18%) Net Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions