Question
The following data was taken from ledger account balances and supplementary data for the XYZ Company Merchandise inventory, beginning PHP20,000 Merchandising inventory, ending 23,000 Purchases
The following data was taken from ledger account balances and supplementary data for the XYZ Company
Merchandise inventory, beginning PHP20,000
Merchandising inventory, ending 23,000
Purchases 215,000
Purchases Discounts 6,000
Purchases returns and allowances 3,000
Sales 400,000
Sales discounts 3,200
Sales returns and allowance 1,800
Freight-in 10,000
Required: Show the computation (income statement), in proper format, of net sales, cost of goods sold, and gross profit for the year ended December 31, 2016.
The following data was taken from ledger account balances and supplementary data for the XYZ Company
Merchandise inventory, beginning PHP20,000
Merchandising inventory, ending 23,000
Purchases 215,000
Purchases Discounts 6,000
Purchases returns and allowances 3,000
Sales 400,000
Sales discounts 3,200
Sales returns and allowance 1,800
Freight-in 10,000
Required: Show the computation (income statement), in proper format, of net sales, cost of goods sold, and gross profit for the year ended December 31, 2016.
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Institutional Factors Affecting Internal Audit Benefits Of Controlling Institutional Factors That Affect Internal Audit
Authors: Brian Sempebwa, David B.
1st Edition
3659490911, 978-3659490910
