The income statement of Carla Company is shown below. Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income Additional information: $1,890,000 4,410,000 6,300,000 1,590,000 450,000 700,000 $6.930,000 4,710,000 2,220,000 1,150,000 $1,070,000 1. Accounts receivable decreased $370,000 during the year. 2 Prepaid expenses increased $160,000 during the year. Accounts payable to suppliers of merchandise decreased $290,000 during the year.
The income statement of Carla Company is shown below. Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income Additional information: $1,890,000 4,410,000 6,300,000 1,590,000 450,000 700,000 $6.930,000 4,710,000 2,220,000 1,150,000 $1,070,000 1. Accounts receivable decreased $370,000 during the year. 2 Prepaid expenses increased $160,000 during the year. Accounts payable to suppliers of merchandise decreased $290,000 during the year.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section20.3: Estimating Inventory
Problem 1OYO
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