Using your accounting knowledge, fill in the missing blank (1 thru 8)
Question # 00302369
Posted By:
Updated on: 06/02/2016 10:25 PM Due on: 07/02/2016
Using your accounting knowledge, fill in the missing blank (1 thru 8) for Company X, Company Y and
Company Z. Indicate negative amounts with parenthesis.
Company X
Company Y
Company Z
$16,000
$48,000
(6)
Inventory (beginning)
$16,000
(4)
$22,000
Purchases of merchandise
(1)
$19,000
$30,000
Inventory (ending)
$24,000
$17,000
(7)
Cost of Goods sold
$32,000
$22,000
$24,000
Gross Profit
(2)
$26,000
$29,000
Expenses
$12,000
$15,000
(8)
Net Income (loss)
(3)
(5)
$7,000
Sales
Cost of Good Sold
Company Z. Indicate negative amounts with parenthesis.
Company X
Company Y
Company Z
$16,000
$48,000
(6)
Inventory (beginning)
$16,000
(4)
$22,000
Purchases of merchandise
(1)
$19,000
$30,000
Inventory (ending)
$24,000
$17,000
(7)
Cost of Goods sold
$32,000
$22,000
$24,000
Gross Profit
(2)
$26,000
$29,000
Expenses
$12,000
$15,000
(8)
Net Income (loss)
(3)
(5)
$7,000
Sales
Cost of Good Sold
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Rating:
/5
Solution: Using your accounting knowledge, fill in the missing blank (1 thru 8)