Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (b) Determine

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Presented below is financial information for two different companies.

Instructions

(a) Determine the missing amounts.

(b) Determine the gross profit rates. (Round to one decimal place.)

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 09:31 AM

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Presented below is financial information for two different companies. Instructions (a) Determine the missing amounts. (b) Determine

Question:

Summer Company S92,000 Winter Company Sales revenlie Sales returns Net sles Cost of goods sold Gross profit Operating expenses Net income 5,000 102,000 41,500 18,000 87,000 56,000 15,000

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a missing amount a Sales revenue 92000 Sales returns 5000 Net sales 8700...View the full answer

Accounting Principles

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