Exercises_workshop 6 - 6,210 41,090 Freight 110 (E)250...

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ACCO 112 PAG 233 E5-15 Cost of goods sold Inventory $17,200 Purchase 149,000 Less: Purchase Returns and Allowances 2,000 Net purchase 147,000 Add - Freight-in 4,000 Cost of goods purchased 151,000 Cost of goods available for sale 168,200 Inventory ending 25,000 Cost of goods sold $143,200 Income Statement Sales Revenues 190,000 Less: Sales Returns and allowances 3,000 Net Sales 187,000 Cost of goods sold 143,200 Gross profit 43,800 Operating Expenses Freight out 1,000 Total operating Expenses 1,000 Net Income 42,800 PAG 234 E5-17 Below is a series of cost of goods sold sections for companies B, F, L, and R B F L R Beginning inventory $150 $70 $1,000 Purchases 1,600 1,080 (G)6,500 43,590 Purchase returns and allowances 40 290 (K)2,500 Net purchases (A) 1,560 1,030
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Unformatted text preview: 6,210 41,090 Freight 110 (E)250 (H)1,730 2,240 Cost of goods purchase (B)1,670 1,280 7,940 Cost of goods available for sale 1,820 1,350 (I)8,940 49,530 Ending Inventory 310 (F)120 1,450 6,230 Cost of goods sold 1,510 1,230 7,490 43,300 PAG 235 E5-20 Present below is selected accounts for Carpenter Company as reported in the worksheet at the end of May 2010. Accounts Adjusted Trial Balance Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,000 9,000 Merchandise Inventory 76,000 76,000 Sales 450,000 450,000 Sales Returns and Allowances 10,000 10,000 Sales Discounts 9,000 9,000 Cost of Goods Sold 300,000 300,000 (J)$ 6,200 (D) 50 (L)43,330...
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This note was uploaded on 03/29/2012 for the course ACCO 111 taught by Professor Miguel during the Spring '12 term at Universidad del Turabo.

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