Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 4, Problem 5R
The following information is for Bonnieʼs Buds, a nursery and floral shop, for the month ended May 31, 2012:
Click the Chart sheet tab on the FMERCH3 file. You will see a chart depicting the five-month trend in sales, gross profit, and net income. What favorable and unfavorable trends do you see in this month-to-month comparison? Comment on any unusual changes. When the assignment is complete, close the file without saving it again.
Worksheet. Your boss would prefer to have the
Chart. Using the FMERCH3 file, prepare a 3-D pie chart that shows the amount of each of the selling expenses in June. No Chart Data Table is needed. Select A57 to A62 as one range on the worksheet to be charted and then hold down the CTRL key and select E57 to E62 as the second range. Enter your name somewhere on the chart. Save the file again as FMERCH3. Select the chart and then print it out.
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The Gap, Inc., is a specialty retailer that operates stores selling clothes under the trade namesGap, Banana Republic, and Old Navy. Assume that you are employed as a stock analyst and yourboss has just completed a review of the annual report of The Gap, Inc., for the third quarter of2013. She provided you with her notes, but they are missing some information that you need. Hernotes show that the inventory for Gap was $2.4 billion at the end of the quarter and $1.8 billion atthe beginning of the quarter. Net Sales for the quarter were $4.0 billion. Gross Profit was $1.6 billion and Net Income was $330 million.Required:Determine the Cost of Goods Sold and purchases for the third quarter.
Presented below is information related to Tamarisk Corporation for the month of January 2020.
Cost of goods sold
$207,710
Salaries and wages expense
$62,790
Delivery expense
6,520
Sales discounts
7,470
Insurance expense
11,170
Sales returns and allowances
11,870
Rent expense
20,580
Sales revenue
356,700
Prepare the necessary closing entries.
Chapter 4 Solutions
Excel Applications for Accounting Principles
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How To Analyze an Income Statement; Author: Daniel Pronk;https://www.youtube.com/watch?v=uVHGgSXtQmE;License: Standard Youtube License