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Fill in the blanks in the following separate income statements a through e 5 72,000 $ b 44.500 c 36,000 $ 25 200 16,960 6,100 7.500 58.000 Sales Cost of goods sold Merchandise inventory beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Not income (los) 7,000 37,000 0.000 4470 6,000 8.700 2,100 17.000 33.390 7,800 22.000 13,850 12,700 1.150 5 11,530 15,970 S 47.600 5,100 42,500 5.600 $ Check my work 2 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual Inventory system and the gross method 175 points Book April 2 Purchased $6,700 of merchandise from Lyon Company with credit terns of 2/15, n/68, invoice dated April 2, and FOB shipping point. April 3 Paid $280 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $750. April 17 sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise April 18 Purchased $12.7ee of merchandise from Frist Corporation with credit terns of 1/10, 1/30, Invoice dated April 18, and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frista $see allowance toward the $12.7ee owed on the April 18 purchase April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Print Rotorence View transaction ist Journal entry worksheet 1 2 3 4 5 6 7 > Purchased $6,700 of merchandise from Lyon Company with credit terms of 7/1: ni Khu ninh | we hav 3 + 4 Era Thinning nai - Journal entry worksheet Purchased $6,700 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits. General Journal Debit Credit Date Apr 02 Record entry Clear entry View general journal The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko Company Use these normal account balances to journalize closing entries Debit $ 45,000 Credit $ 581, eBook K. Emiko, withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Sales salaries expense Utilities expense Selling expenses Administrative expenses 20,100 6.30 238,eee 61,000 21,5 42, See 110,000 Hart Print niterences View transaction list Journal entry worksheet 2 3 4 Record closing of credit balances in temporary accounts Taw 5 of 9 Journal entry worksheet Record closing of credit balances in temporary accounts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 es Record entry Clear entry View general journal Fit-for-Life Foods reports the following income statement accounts for the year ended December 31 Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-selling space Sales staff wages $ 6,238 Depreciation expense-Office copier 640 Sales discounts 1,380 Sales returns and allowances 218,000 TV advertising expense 31,300 Interest revenue 10,508 Cost of goods sold 23,708 Sales commission expense $ 500 15, 200 3,900 3, eee 670 89,900 13,480 Prepare a multiple-step income statement FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 0 0 0 BE Expenses Selling expenses 0 Total selling expenses General and administrative expenses ho 0 Total general and administrative expenses Total expenses 0 0 Other revenues, gains, expenses & losses TO 0 Total general and administrative expenses Total expenses 0 0 Other revenues, gains, expenses & losses 0 Total other revenues, gains, expenses & losses