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 Sales Sales returns and allowances Sales discounts Net sales Cost of merchandise sold Gross profit $ (g) 7,500 11,500 (h) 400,000 120,000 $250,000...

a 15000 250000 10000 225000 b 135000 22500 ...

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: 978-0538749091

5th Edition

Authors: Carl S Warren

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Question Posted: Oct 20, 2011 09:21 AM

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

Question:

Sales Sales returns and allowances Sales discounts Net sales Cost of merchandise sold Gross profit $ (g) 7,500 11,500 (h) 400,000 120,000 $250,000 (a) 10,000 225,000 (b) 90,000 $600,000 30,000 18,000 (c) $1,000,000 (e) 910,000 (f) 286,500 330,000 (d)

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