QUESTION 14 Jim Panzie, owns a portable pet store which uses the perpetual inventory system. The...

 

Transcribed Image Text:

QUESTION 14 Jim Panzie, owns a portable pet store which uses the perpetual inventory system. The book keeper Sally Mander has provided the following partial list of account balances (in alphabetical order) on December 15, 2021. REQUIRED: Using the accounts provided, calculate the profit or income from operations. Accounts Payable 23 Accounts Receivable 23 Accumulated Amortization Allowance for Doubtful 64 Accounts Cash 10 Cost of Goods Sold 687 J. Panzie, Capital 426 J. Panzie, Withdrawals 89 Equipment 180 Interest Earned 4 Inventory 117 Rent Expense 163 Salaries Expense 155 Sales Discounts 6. Sales Returns and Allowances 32 Sales 1,076 Supplies 14 Unearned Sales 14 QUESTION 14 Jim Panzie, owns a portable pet store which uses the perpetual inventory system. The book keeper Sally Mander has provided the following partial list of account balances (in alphabetical order) on December 15, 2021. REQUIRED: Using the accounts provided, calculate the profit or income from operations. Accounts Payable 23 Accounts Receivable 23 Accumulated Amortization Allowance for Doubtful 64 Accounts Cash 10 Cost of Goods Sold 687 J. Panzie, Capital 426 J. Panzie, Withdrawals 89 Equipment 180 Interest Earned 4 Inventory 117 Rent Expense 163 Salaries Expense 155 Sales Discounts 6. Sales Returns and Allowances 32 Sales 1,076 Supplies 14 Unearned Sales 14

Answer rating: 100% (QA)

Calcukte Poofre I Income fm opoalin Gops Inlorme Sales l076 Unearnmed sale 14 Revenue sa... View the full answer