On the basis of the accounts listed below, calculate a. Net sales b. Cost of goods sold
Question:
On the basis of the accounts listed below, calculate
a. Net sales
b. Cost of goods sold (after adjustment)
c. Gross profit
d. Net income
Transcribed Image Text:
Accounts Payable Operating Expenses T. Abebe, Capital Cost of Goods Sold Ending Inventory, December 31, 2021 Sales Accounts Receivable Cash Sales Returns and Allowances Physical Count of Inventory December 31, 2021 Sales Discount $ 5,000 2,200 19,400 4,500 1,250 11,000 1,489 756 275 1,200 394
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a Net sales is 10331 Sales 11000 Sales R A 275 Sa...View the full answer
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Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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