Two or more items are omitted in each of the tabulations of income statement data shown below.
Question:
Instructions
Fill in the amounts that are missing.
Transcribed Image Text:
2020 2018 2019 Sales revenue £290,000 £ ? £410,000 Sales returns and allowances 6,000 13,000 Net sales 347,000 Beginning inventory 20,000 32,000 Ending inventory Purchases 260,000 298,000 Purchase returns and allowances 5,000 8,000 10,000 9,000 Freight-in 8,000 12,000 Cost of goods sold 238,000 303,000 Gross profit on sales 46,000 91,000 97,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
2018 2019 2020 Sales 290000 360000 410000 Sales Returns 6000 13000 10000 Net Sales 284000 347000 ...View the full answer
Answered By
Ankit Mahajan
I am an electrical engineering graduate from Thapar institute of engineering and technology.
Qualified exams - GATE 2019,2020.
CAT EXAM 2021- 91.4 percentile
SSC EXAMS- 2019,2020,2021
AFCAT EXAM- 2019,2020,2021
I want to share my knowledge with other people so that they can achieve the same.
I have strong hold Mathematics, Electrical engineering and all the subjects related.
Just give me a problem and I will give you the solution of it.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted:
Students also viewed these Managerial Accounting questions
-
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that aremissing. 2006 2007 2008 $290,000 $ $410,000 Sales Sales returns Net sales...
-
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that aremissing. 2013 2014 2015 $307,500 $217,500 8,250 Sales Sales returns Net sales...
-
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2013 2014 2015 $410,000 Sales Sales returns Net sales Beginning...
-
Bob Bristol just called to congratulate you on your excellent work on the various assignments at CII.He now wants you to do some capacity analysis for Meghan Willoughby, the Chief Purser. Meghan is...
-
The 4.5-kg block A and the 3-kg block B are connected by a slender rod of negligible mass. The coefficient of static friction is 0.40 between all surfaces of contact. Knowing that for the position...
-
Amy runs a wholesale grocery business aiming to provide ingredients to local restaurants and hotels in Hunter Region area, and she hires an accountant to record the transactions for her business....
-
Which of the following is an extensive property? (a) Free energy (c) Specific heat (b) Refractive index (d) Surface tension.
-
World-Tec Company sells electronics over the internet. The international division is organized as a cost center. The budget for the international Division for the month ended March 31, 2012, is as...
-
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...
-
MUHC Ltd. leased a microsurgical staple gun on January 1, 2020, from George Klein Surgical Equipment Ltd. The three-year lease contract called for monthly payments of $10,870 to be made at the end of...
-
Bradford Machine plc maintains a general ledger account for each class of inventory, debiting such accounts for increases during the period and crediting them for decreases. The transactions below...
-
Ohno Industries purchased 12,000 of merchandise on February 1, 2019, subject to a trade discount of 10% and with credit terms of 3/15, n/60. It returned 3,000 (gross price before trade or cash...
-
A sample of six university students responded to the question, "How much time, in minutes, did you spend on the social network site yesterday?" One student never used the site and was dropped from...
-
For a balanced- \(\Delta\) load with per-phase impedance of \(Z_{\Delta}\), the equivalent Y-load has an open neutral; for the corresponding uncoupled sequence networks, \(Z_{0}=\)____________...
-
For a balanced-Y impedance load with per-phase impedance of \(Z_{Y}\) and a neutral impedance \(Z_{n}\), the zero-sequence voltage \(V_{0}=Z_{0} I_{0}\), where \(Z_{0}=\)____________.
-
The sequence impedance matrix \(Z_{S}\) for a balanced- \(Y\) load is a diagonal matrix and the sequence networks are uncoupled. (a) True (b) False
-
A Y-connected synchronous generator grounded through a neutral impedance \(Z_{n}\) with a zero-sequence impedance \(Z_{g 0}\)____________ has zero-sequence impedance \(Z_{0}=\) in its zero-sequence...
-
In per-unit sequence models of three-phase three-winding transformers, for the general zero-sequence network, the connection between terminals \(\mathrm{H}\) and \(\mathrm{H}^{\prime}\) depends on...
-
Sydney wishes to make an investment on a monthly basis starting next month for five years. The payments into the fund would be made on the first day of each month. The interest rate will be 0.5...
-
H Corporation has a bond outstanding. It has a coupon rate of 8 percent and a $1000 par value. The bond has 6 years left to maturity but could be called after three years for $1000 plus a call...
-
Good-Deal Inc. developed a new sales gimmick to help sell its inventory of new automobiles. Because many buy- ers of new cars need financing, the company offered a low down payment and low car...
-
Benoit Inc. issued 25-year, 9% mortgage bonds in the principal amount of $3 million on January 2, 1997, at a discount of $150,000. It then amortized the discount through charges to expense over the...
-
On January 1, 2011, Batonica Limited issued a $1.2-million, five-year, zero-interest-bearing note to Northern Savings Bank. The note was issued to yield 8% annual interest. Unfortunately, during 2011...
-
sked byChina699 BEMIDJI STATE UNIVERSITY Department of Technology, Art & Design TADT 3217 : Materials Science & Metallurgy Hardness Testing [A continued look at the Heat Treatment of Steel] ...
-
1. Advocate Aurora Sheboygan Memorial Hospital health care product or service to be marketed in your community. 2. Conduct appropriate market research in your community to determine the demographics...
-
How do ethical leaders integrate ethical considerations into strategic decision-making processes, balancing short-term business objectives with long-term ethical imperatives to ensure sustainable...
Study smarter with the SolutionInn App