Determine the missing data for each letter in the three income statements below for Lopata Office LO
Question:
Determine the missing data for each letter in the three income statements below for Lopata Office LO 2 Trading Income Statement: Missing Data, Multiple Years Supplies Company (in thousands):
Transcribed Image Text:
20x3 20x2 20x1 Gross Sales P h 572 Sales Returns and Allowances 48 38 a Net Sales 634 b Inventory, Jan. 1 I i 76 Purchases 384 338 C Purchases Returns and Allowances 62 j 34 Freight In $ 58 44 Net Cost of Purchases 378 k Goods Available for Sale 444 424 d 364 Inventory, Dec. 31 78 1 84 Cost of Goods Sold t 358 e Gross Profit 284 m 252 Selling Expenses u 156 General and Administrative Expenses 78 Total Operating Expenses 260 256 Profit before Income Taxes V Income Taxes Net Profit 63 W 44 66 4 10 H 046 16 g 54
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting A Global Approach
ISBN: 9780395839867
1st Edition
Authors: Sidney J. Gray, Belverd E. Needles
Question Posted:
Students also viewed these Business questions
-
Determine the missing data for each letter in the following three income statements for Sampson Paper Company (amounts are inthousands): 2009 $286 2011 2010 Sales Sales returns and allowances Net...
-
Determine the missing data for each letter in the following three income statements for Fulco Company (in thousands): 2014 2013 2012 Sales Sales returns and allowances Net sales Merchandise...
-
Determine the missing data for each letter in the following three income statements for Fulco Company (inthousands): 2014 2013 2012 Sales Sales returns and allowances Net sales Merchandise inventory,...
-
The software inSSIDer from metageek lets you scan surroundingWiFi networks. Download inSSIDer 3.1.2.1 from the following link:http://www.techspot.com/downloads/5936-inssider.html a....
-
Describe how real GDP per capita has changed throughout the world from 1820 to the present.
-
List the assumptions underlying cost- volume-profit analysis. AppendixLO1
-
What could other companies learn from this example?
-
The accounting records for Juan Electric Corporation contained the following balances as of December 31, 2010: The following accounting events apply to Juan Electric Corporation?s 2011 fiscal year:...
-
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month...
-
Give the entries to record each of the following transactions (1) under the periodic inventory system LO 4 Recording Purchases: Periodic and Perpetual Inventory Systems and (2) under the perpetual...
-
Using the selected account balances at December 31, 20xx for Nature's Adventure Store below, pre- LO 4 Preparation of Income Statement: Perpetual Inventory System pare an income statement for the...
-
A chamber contains a mixture of 2 kg of oxygen (O2) and 2 kmol of hydrogen (H2). (a) Determine the average molar mass of the mixture in kg/kmol. (b) If the specific volume of the mixture is 2 m3/kg,...
-
17. List I describes thermodynamic processes in four different systems. List II gives the magnitudes (either exactly or as a close approximation) of possible changes in the internal energy of the...
-
1. 2 mol of Hg(g) is combusted in a fixed volume bomb calorimeter with excess of O2 at 298 K and 1 atm into HgO(s). During the reaction, temperature increases from 298.0 K to 312.8 K. If heat...
-
3. A solution is prepared by mixing 0.01 mol each of H2CO3, NaHCO3, Na2CO3, and NaOH in 100 mL of water. pH of the resulting solution is [Given: pk, and pKa2 of H2CO3 are 6.37 and 10.32,...
-
6. Consider the following reaction. LOH red phosphorous Br2 R (major product) Br On estimation of bromine in 1.00 g of R using Carius method, the amount of AgBr formed (in g) is [Given: Atomic mass...
-
9. For diatomic molecules, the correct statement(s) about the molecular orbitals formed by the overlap of two 2pz orbitals is (are) (A) orbital has a total of two nodal planes. (B) * orbital has one...
-
1. Where do you stand? Do you think EU subsidies and soft loans to Airbus are fair? Why or why not? What advantages does Airbus gain from free financial support from the EU governments? Are...
-
Annual dividends of ATTA Corp grew from $0.96 in 2005 to $1.76 in 2017. What was the annual growth rate?
-
18. Suppose that Maxima shares are selling for $10 per share and you own a call option to buy Maxima shares at $7.50. The intrinsic value of your option is:
-
ABC Insurance Company reported the following information on its accounting statements last year: What was ABC 's expense ratio last year
-
Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll Note: Round your answers to the nearest hundredth
Study smarter with the SolutionInn App