acc225 calculating revenue cost of sales expenses and income loss fill in the blanks 498401
Calculating revenue, cost of sales, expenses and income (loss).
Fill in the blanks in the following separate income statements.Identify any negative amount by putting it in (parentheses).
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Business Name
Mark’s, Corp.Phoenix Co.Mike’s BikesCal’s Cars Don’s Dogs
Income StatementIncome StatementIncome StatementIncome Statement Income Statement
For the Year EndedFor the Month EndedFor the Quarter Ended For the Year EndedFor the Month Ended
April 30 2012April 30 2012April 30 2012April 30 2012April 30 2012
Sales 85,000 80,000 25,000 18,000
Cost of Sales
Beginning Inventory 10,000 34,100 3,750 7,000 2,600
Purchases 30,000 32,000 8,000
Goods Available for Sale
Ending Inventory (5,400) (4,500) (6,600)
Cost of Goods Sold 35,000 31,800 5,600
Gross Profit 1,875 45,600
Operating Expenses 9,000 21,300 6,075 2,600 10,000
Net Income 26,900 (4,200) 43,000
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