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Please help with these acconting questions, thank you in advance! Q1 Q2 Q3 You will need to know the amounts for net sales, gross profit,
Please help with these acconting questions, thank you in advance!
You will need to know the amounts for net sales, gross profit, operating income, and net income after taxes. Adjusted Trial Balance As of 12/31/20xx Accounts Normal Account Balance kash $25,517 Accounts Receivable 24,500 Allowance for Uncollectible 3.000 Accounts Inventory 35.000 Deferred Revenue 10.000 Common Stock 50.000 Retained Earnings 10,000 Revenue (Sales) 100.000 Sales Discounts 1.103 Cost of Goods Sold 50,194 Rent Expense 5.140 interest Expense 11.000 income Tax Expense 2.000 Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net Sales on the Multi-step Income Statement for the period ending 12/31/xx? Based on the account balances shown below.calculate "Net Sales" Account Name Normal Account Balance Allowance for Uncollectible $15,000 AR Deferred Revenue $30,246 Sales Revenue $117,446 Sales Discounts $2,000 Sales Returns $9.000 The following account information is from Great Clips 12/31/20xx Partial Adjusted Trial Balance. What is the dollar (5) amount of Great Clips gross profit? Account Name Normal Account Balance Cash $20,000 Inventory $10,278 Deferred Revenue $20,000 Retained Earnings $33,000 Sales Revenue $118,000 Rent Expense $25,654 Cost of Goods Sold $67,878 Income Tax Expense $11,278 Q1
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