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The following amounts are on the ;Entrement Company worksheet for the month ended Oct

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

Tripti 06-Dec-2019

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