Only 4b photo. Thanks! The following amounts appeared on the Mendelsteln Company's adjusted trial balance as of October 31, 2020, the end of Its fiscalyear.DebitCreditMerchandise inventory$ 1,750Other assets47, 000$ 43, 34037,698LiabilitiesJoe Mendelstein, capitalJoe Mendelstein, withdrawals3,700Interest income185Sales103,400Sales returns and allowances8, 200Sales discounts1,195Purchases44, 200Purchase returns and allowances2, seePurchase discounts970Transportation-inSales salaries expenseRent expense, selling spaceStore supplies expenseAdvertising expenseOffice salaries expense5,40018,5009,9003,9009,70022,700Rent expense, office spaceOffice supplies expense8, 3003,640Totals$188,085 $188,085A physical count shows that the cost of the ending inventory is $13,300.Required:1. Calculate the company's net sales for the year.Net sales 2. Calculate the company's cost of goods purchased for the year.Cost of goods purchased3. Calculate the company's cost of goods sold for the year.Cost of goods sold4. Present a multiple-step income statement that lists the company's net sales, cost of goods sold, and gross profit from sales.MENDELSTEIN COMPANYIncome StatementFor Year Ended October 31, 2020Operating expenses:

The following amounts appeared on the Mendelstein Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year. Debit $ 1,75e 47,eee Credit Merchandise inventory Other assets $ 43,340 37,690 Liabilities Joe Mendelstein, capital Joe Mendelstein, withdrawals Interest income 3,70e 185 Sales 183,4ee 8,20e 1,195 44, 200 Sales returns and allowances Sales discounts Purchases Purchase returns and allowances 2,see Purchase discounts 970 Transportation-in Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense 5,4ee 18, see 9,900 3,9ee 9,7ee 22,70e 8, 30e 3,64е Rent expense, office space Office supplies expense Totals $188,885 $188,085 A physical count shows that the cost of the ending inventory Is $13,300. Required: 1. Calculate the company's net sales for the year. Net sales

The following amounts appeared on the Mendelstein Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year. Debit $ 1,75e 47,eee Credit Merchandise inventory Other assets $ 43,340 37,690 Liabilities Joe Mendelstein, capital Joe Mendelstein, withdrawals Interest income 3,70e 185 Sales 183,4ee 8,20e 1,195 44, 200 Sales returns and allowances Sales discounts Purchases Purchase returns and allowances 2,see Purchase discounts 970 Transportation-in Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense 5,4ee 18, see 9,900 3,9ee 9,7ee 22,70e 8, 30e 3,64е Rent expense, office space Office supplies expense Totals $188,885 $188,085 A physical count shows that the cost of the ending inventory Is $13,300. Required: 1. Calculate the company's net sales for the year. Net sales

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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Here are the accounts in the ledger of Mishas Jewel Box, with the balances as of December 31, the end of its fiscal year. Here are the data for the adjustments. Assume that Mishas Jewel Box uses the perpetual inventory system. a. Merchandise Inventory at December 31, 124,630. b. Insurance expired during the year, 1,294. c. Depreciation of building, 3,300. d. Depreciation of store equipment, 6,470. e. Salaries accrued at December 31, 2,470. f. Store supplies inventory (on hand) at December 31, 1,959. Required 1. Complete the work sheet after entering the account names and balances onto the work sheet. Ignore this step if using CLGL. 2. Journalize the adjusting entries. If using manual working papers, record adjusting entries on journal page 63.