Home / Questions / The following amounts are on the ;Entrement Company worksheet for the month ended Oct
The following amounts are on the D'Entrement Company worksheet for the month ended October 31.
Required: Calculate the following:
a.Net sales
b.Net purchases
c.Net cost of purchases
d.Goods available for sale
e.Cost of goods sold
f.Gross profit
INCOME STATEMENT
ACCOUNT Debit Credit
Sales40
Sales Returns and Allowances3
Sales Discounts2
Income Summary76
Purchases16
Purchases Discount1
Purchases Returns and Allowanses1
Freight-In 2
90) The following accounts are on the Balance Sheet section of Marble Company worksheet for the month ended August 31, 2014.
Required: Prepare a classified balance sheet.
BALANCE SHEET
ACCOUNT Debit Credit
Cash4
Accounts Receivable7
Merchandise Inventory4
Store Equipment12
Accum. Amort., Store Equip.4
Accounts Payable5
Mortgage Payable13
Appleton, Capital 3
Additional information Withdrawals for the period are $4, and Net Income is $6
Dec 06 2019 View more View Less
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