The Following Amounts Are on the Bear Sporting Goods Worksheet

question 108

Short Answer

The following amounts are on the Bear Sporting Goods worksheet for the month ended October 31.
Required: Calculate the following:
a. Net sales
b. Gross profit
c. Operating expenses
d. Other revenue
e. Net income
$$\begin{array} { l c r } \text { Account } & { \text { Income Statement } } \\& \text { Debit } & \text { Credit } \\\text { Sales } & & 45 \\\text { Sales Returns and Allowances } & 6 & \\\text { Sales Discounts } & 2 & \\\text { Cost of Goods Sold } & 23 & \\\text { Salaries Expense } & 4 & \\\text { Rent Expense } & 3 & \\\text { Depreciation Expense } & 1 & \\\text { Interest Expense } & 1 & \\\text { Interest Revenue } & & 1\end{array}$$

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Definitions:

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Disputes

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