Two items are omitted in each of the following four lists of income statement data Determine the amounts of the missing items, identifying them byletter $475,000 $700,000 $1,000,000 (g) 7,500 11,500 Sales Sales returns and allowances Sales discounts Net sales Cost of merchandise sold Gross profit 1...

a 17000 475000 10000 448000 b 268000 448000 18 ...

Two items are omitted in each of the following four lists of income statement data. Determine the

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Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them byletter.

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Survey of Accounting

ISBN: 978-1133189121

6th edition

Authors: Carl S Warren

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Question Posted: Feb 04, 2014 07:41 AM

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Two items are omitted in each of the following four lists of income statement data. Determine the

Question:

$475,000 $700,000 $1,000,000 (g) 7,500 11,500 Sales Sales returns and allowances Sales discounts Net sales Cost of merchandise sold Gross profit 100,000 18,000 10,000 448,000 40,000 910,000 350,000 400,000 120,000 180,000 286,500

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Survey of Accounting

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