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Use the following information ( in random order ) from a merchandising company and from a service company. McNeil Merchandising Company Accumulated depreciation $ 7
Use the following information in random order from a merchandising company and from a service company. McNeil Merchandising Company Accumulated depreciation $ Beginning inventory Ending inventory Expenses Net purchases Net sales Krug Service Company Expenses $ Revenues Cash Prepaid rent Accounts payable Equipment Compute the goods available for sale, the cost of goods sold and gross profit for the merchandiser. Hint: Not all information may be necessary. Compute net income for each company.
Use the following information in random order from a merchandising company and from a service company.
McNeil Merchandising Company
Accumulated depreciation $
Beginning inventory
Ending inventory
Expenses
Net purchases
Net sales
Krug Service Company
Expenses $
Revenues
Cash
Prepaid rent
Accounts payable
Equipment
Compute the goods available for sale, the cost of goods sold and gross profit for the merchandiser. Hint: Not all information may be necessary.
Compute net income for each company.
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