✔ Pola Soal Mencari Nilai Akun.( Missing Amounts )
Missing Amounts
· Missing Amounts
Presented below is financial information for two different companies.
Shabbona Company Jenkins Company
Sales $ 90,000 ( d )
Sales Return ( a ) $ 5,000
Net Sales $ 85,000 $ 90,000
Cost of Goods Sold $ 56,000 ( e )
Gross Profit ( b ) $ 38,000
Operating Expenses $ 15,000 $ 23,000
Net Income ( c ) $ 15,000
· Instructions
Compute the missing amounts.
First, ** Shabbona Company
A. Sales Return = Sales – Net Sales
= $ 90,000 - $ 85,000
= $ 5,000
B. Gross Profit = Net Sales – Cost of goods sold
= $ 85,000 – 56,000
= $ 29,000
C. Net Income = Gross Profit – Operating Expense
= $ 29,000 - $ 15,000
= $ 14,000
Last, ** Jenkins Company
D. Sales = Sales Return + Net Sales
= $ 5,000 + $ 90,000
= $ 95,000
E. Cost of good Sold = Net Sales – Gross Profit
= $ 90,000 - $ 38,000
= $ 62,000
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