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Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Operating Expenses P3,500 10,000 Other Income 1. P20,000 P15,000 P5.200 2.48,000 3.52.400 4. 5. B3,123 48,000 42,000 78,123 P2,800 5,720 15,000 12,900 14,000 8,000 6,000 18,200 8,9000 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2,400. 4. The Operating income is 63,445. 5. The Cost of sales is 5% of Sales and 2% of Operating Expenses.

Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Operating Expenses P3,500 10,000 Other Income 1. P20,000 P15,000 P5.200 2.48,000 3.52.400 4. 5. B3,123 48,000 42,000 78,123 P2,800 5,720 15,000 12,900 14,000 8,000 6,000 18,200 8,9000 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2,400. 4. The Operating income is 63,445. 5. The Cost of sales is 5% of Sales and 2% of Operating Expenses.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 87PSB
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Prepare a Statement of Comprehensive Income

PROBLEM SOLVING 2 Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Other Income |1. P20,000 2. 48,000 3. 52,400 Operating Expenses P3,500 10.000 P15,000 P2,800 5,720 15,000 12,900 P5.200 14,000 8,000 6,000 18,200 48,000 42,000 4. 8,9000 5. 83,123 78,123 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2.400. 4. The Operating income is 63,445. 5. The Cast of sales is 5% of Sales and 2% of Operating Expenses.
Transcribed Image Text:PROBLEM SOLVING 2 Given the information below solve the requirements needed. Sales Net Sales Cost of Sales Other Income |1. P20,000 2. 48,000 3. 52,400 Operating Expenses P3,500 10.000 P15,000 P2,800 5,720 15,000 12,900 P5.200 14,000 8,000 6,000 18,200 48,000 42,000 4. 8,9000 5. 83,123 78,123 42,000 Additional information; 1. The sales return and allowances is 2,500, and sales discount is 3,500. The accountant erroneously recorded 5,000 in total. 2. The Net sales is 95% of the sales. 3. The Operating Expenses is 20% of Net sales before deducting the sales return and allowances of 2.400. 4. The Operating income is 63,445. 5. The Cast of sales is 5% of Sales and 2% of Operating Expenses.
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