I need help. Fill in the blanks in the following separate income statements a through e.SalesCost of goods soldMerchandise inventory, beginningTotal cost of merchandise purchasesMerchandise inventory, endingCost of goods soldGross profitExpensesNet income (loss)a$ 65,000 $8,60031,00033,14024,000$b44,000 $16,4902,60020,00011,11012,890 $C51,0005,0008,80013,75012,6501,100 $d7,60045,0007,50041,1004,00037,100$EAe24,4004,5205,2007,4007,600 For each of the following separate situations, determine how much revenue is recognized in December (using accrual basisaccounting).a. On December 7, Oklahoma City Thunder sold a $106 ticket to a basketball game to be played in March.b. Tesla sold and delivered a $74,000 car on December 25. The customer will not pay until February.c. Deloitte signs a contract on December 1 to provide 40 days of advisory services with receipt of $26,000 due at the end of thecontract. On December 31, 75% of the services have been completed.Situationsa. Sale of a ticket to a basketball gameb. Sale of a car on creditc. Contract to provide advisory servicesRevenue recognized inDecember

Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold $ 65,000 $ 8,600 31,000 33.140 b 44,000 $ 16,490 2,600 20.000 51,000 5,000 8,800 d 7,600 45,000 7,500 $ 24,400 4,520 5,200 7.400

Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold $ 65,000 $ 8,600 31,000 33.140 b 44,000 $ 16,490 2,600 20.000 51,000 5,000 8,800 d 7,600 45,000 7,500 $ 24,400 4,520 5,200 7.400

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3Q: On January 1, a flower shop contracts with customers to provide flowers for their wedding on June 2....

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