what is the answer?

C) does not affect Cost of Goods Sold. D) increases liabilities. 30) If $4,000 was the beginning inventory, $10,000 in new inventory purchases were made and the cost of goods sold were $7,000. How much was ending inventory last accounting period? A) $7,000 B) $4,000 C) $14,000 D) $3,000 31) The financial statement on which Rental Income would appear is the A) income statement. By owner's equity statement. () balance sheet. D) operations statement 32) The normal balance of Rental Income is A) a credit. B) a debit. C) zero. D) dependent on the circumstances. 33-36) Calculate: (a) nut sales, (b) inventory shrinkage, (c) gross profit, and (d) net income from the following Sales $3,000 Cost of Goods Sold (unadjusted) $ 2,000 Sales Discount 50 Merchandise Inventory 1,400 Sales Returns and Physical Inventory Count 1,350 Allowances 80 Operating Expenses 300 Answer. a) 37) Katelyn Marie's Law Firm's unadjusted trial balance includes the following: Cash $4,200 Unearned Legal Fees 1,200 Legal Fees Revenue 14,400 Using the above data, record the adjusting entry for $1,000 of the unearned legal fees earned