Question
Jones Brush Company sells standard hair brushes. The following information summarizes Jones's operating activities for 2024: Requirements 1. Calculate the operating income for 2024. 2.
Jones Brush Company sells standard hair brushes. The following information summarizes Jones's operating activities for 2024:
Requirements
| 1. | Calculate the operating income for 2024. |
| 2. | Jones sold6,400 brushes in2024. Compute the unit cost for one brush. |
Requirement 1. Calculate the operating income for
2024.
| Jones Brush Company | |||||||
| Income Statement | |||||||
| Year Ended December 31, 2024 | |||||||
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| Cost of Goods Sold: |
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| Cost of Goods Sold |
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| Gross Profit |
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| Operating Income |
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Selling and Administrative Expenses
$40,320
Purchases
83,200
Net Sales Revenue
115,200
Merchandise Inventory, January 1, 2024
11,520
Merchandise Inventory, December 31, 2024
35,968
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
