Supply the missing dollar amounts for the 2017statement of
earnings of Kwan Company for each of...
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Accounting
Supply the missing dollar amounts for the 2017statement ofearnings of Kwan Company for each of the following independentcases:
Case A
Case B
Case C
Sales revenue
$ 8,000
$ 6,000
Sales returns and allowance
150
275
Net sales revenue
5,920
Beginning inventory
11,000
6,500
4,000
Purchases
5,000
9,420
Transportation-in
120
170
Purchase returns
350
600
Cost of goods available for sale
14,790
13,370
Ending inventory
10,000
10,740
Cost of sales
5,400
Gross profit
1,450
Expense (operating)
1,300
520
Pretax earnings (loss)
$ 800
$ 500
$ 0
Answer & Explanation
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3.9 Ratings (445 Votes)
Income Statement Case A Case B Case C Sales revenue 8000 6000 6195 Sales returns and allowance 150 500 275 Net sales revenue 7850 5500 5920 Beginning inventory 11000 6500 4000 Purchases 5000 8770 9420 Transportationin 100 120 170
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