Question: Using your accounting knowledge, find the missing amounts in the following separate income statements. (Amounts to be deducted should be indicated by a minus sign.)

Using your accounting knowledge, find the missing amounts in the following separate income statements. (Amounts to be deducted should be indicated by a minus sign.) d - a $ 62,000 b 43,500 c $ 46,000 e 25,600 $ $ 17,050 7,500 8,000 38,000 Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 8,000 32,000 (6,600) 4,560 | 6,600 (9,000) (3,000) 16,000 34,050 7,000 10,000 3,750 12,150 $ (8,400) 10,650 16,850 45,600 3,600 $ 42,000 6,000 $ ,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
