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I need three accounting problems typed up in Excel. The problems are already worked out. I will provide the screenshots. The problems need to be typed up in excel in three different worksheets under one file. Highlighted parts need not to be added. Please follow the below mentioned order. Problem 1 = P1,P2,P3,P4Problem 2 = s1,s2,s3Problem 3 = q1,q2,q3,q4Particulars
Jan 1 – Beginning
Jan 5-Purchase
Jan 13- Sale
Jan 18 – Purchase
Jan 26 – Sale
Ending inventory
Units
Rate
80 50 (4,000-80)
140
55
160 (80×50+80*55)
160
60
170 (60×55+110×60)
Amount
(S)
4,000
7,700
(8,400)
9,600
(9,900)
3,000
ence, the cost of goods sold is \$13,300 (8,400+9,900) and the amount of ending
erchandise inventory is \$3,000.
ross profit:
Amount (In S)
34,700
Particulars
Sales
(160×100+170×110)
Less: cost of goods sold
Gross profit
18,300
16,400
ence, the amount of gross profit is \$16,400.
Particulars
Jan 1 – Beginning
Jan 5 – Purchase
Jan 13- Sale
Jan 18 – Purchase
Jan 26 – Sale
Ending inventory
Units
Rate
80 50 (4.000+80)
140
55
160 (140×55+20×50)
160
60
170 (160X60+10×50)
Amount (5)
4,000
7,700
(8,700)
9,600
(10.100)
2,500
Hence, the cost of goods sold is \$18,800 (8,700+10,100) and the amount of ending
merchandise inventory is \$2,500
Gross profit:
Amount (In S)
34,700
Particulars
Sales
(160×100+170×110)
Less: cost of goods sold
Gross profit
18.800
15,900
Hence, the amount of gross profit is \$15,900
Particulars
Jan 1 – Beginning
Jan 5 – Purchase
Average
Jan 13- Sale
Jan 18 – Purchase
Average
Jan 26 – Sale
Ending inventory
Units
Rate
80 50 (4,000+80)
140
55
220 53.18(11,700+220)
160 (160×53.18)
160
60
220 58.14(12,791 +220)
170
(160×58.14)
Amount (\$)
4,000
7,700
11,700
(8,509)
9,600
12,791
(9,884)
2,907
Hence, the cost of goods sold is \$18,393 (8,509+9,884) and the amount of ending
merchandise inventory is \$2,907
Gross profit:
Amount (In )
34,700
Particulars
Sales
(160×100+170×110)
Less: cost of goods sold
Gross profit
18,393
16.307
Hence, the amount of gross profit is \$16,307.
If the business wants to pay the least amount of income taxes then it should select the
inventory costing method which is giving least profit. As per the above calculations, it
can be concluded that the profit is least under LIFO inventory costing method. Therefore,
business should select LIFO inventory costing method.
\$287.400
Company S
Income Statement
For the Quarter Ended April 30, 2015
Revenues:
Net sales revenue (5296,100 – \$2,000 – \$7,500) \$286,600
Interest revenue
\$800
Total revenues
Less: Expenses:
Cost of goods sold
S162.100
Rent expense (selling)
\$21,780
Interest expense
\$2.000
Depreciation expense – Equipment (Administrative) \$1,630
\$4,890
\$9.780
Utilities expense (Selling)
\$10.890
Delivery expense (Selling)
\$3,630
Total expenses
Net income
(S216.700
\$70,700

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