CHECKLIST OF KEY FIGURES

Chapter 5 Accounting for Merchandising Operations

 Page

Assig Check
nment Figures

E5-2 (h) 1; (m) 13

E5-3
(b) Ending balance in merchandise inventory
$20,503

E5-4
(b) Net Sales $20,348

E5-5
(c) Gross profit $1,700

E5-6
(c) Merchandise Inventory ending balance, $35,596

E5-8
(b) Income summary closed to Capital $44,400

E5-9 (b) Gross profit $102,000

(e) Net sales $335,000

(l) Profit $41,000

E5-10 (a) Profit $292,700

(b) Post closing trial balance column totals $695,700

E5-11 (a) Profit $84,200; Total Assets $132,825

(b) Gross profit margin: 39.5%

E5-12
(b) Profit margin from operations 2015: 20.9%
 E5-13
(b) April 6 no entry required.

E5-14 (a) July 25 Debit Sales Discounts $60

(b) Gross profit $4,416

E5-15
(a) Gross profit $330,000

E5-16
(a) Loss $22,500

P5-2A (b) Merchandise Inventory ending balance, $4,400

P5-3A October 12 no entry required

(a) July 2 no entry required

P5-4A
(b) Ending balance Merchandise Inventory $1,080
and 25 units

(b) Merchandise Inventory, $5,498

P5-5A
(c) Gross profit, $7,628

(b) Profit, $71.810

P5-6A
(c) Gross profit margin 15.8%

P5-7A (b) Gross profit, $104,950; Profit, $37,650

P5-8A (a) Gross profit margin 2014, 13.7%

Current Ratio 2013, 1.36:1

*P5-9A October 12 no entry required

*P5-10A July 2 no entry required

*P5-11A Gross profit $7,628

*P5-12A Gross profit, $149,580; Profit, $61,580; Ending

capital, $92,080; Total assets, $147,580

*P5-13A (a) Gross profit, $236,750; Profit, $57,750; Ending

capital, $150,230; Total assets, $300,040

P5-2B (b) Inventory, $10,080

P5-3B Oct. 4 no entry required

P5-4B (b) Merchandise Inventory balance, $1,785

(b) Merchandise Inventory balance, $5,570

P5-5B
(c) Gross profit, $11,464

(b) Profit, $49,000

P5-6B
(c) Gross profit margin 42.7%

P5-7B (b) Gross profit, $102,755; Profit, $51,715

P5-8B (a) Gross profit margin 2014, 48.08%

Current Ratio, 2013: 4.23:1

*P5-9A October 18 no entry required

*P5-10A June 2 no entry required

*P5-11B (c) Gross profit, $11,464

 *P5-12B Gross profit, $179,495; Profit, $73,895; Ending
capital, $110,495; Total assets, $177,095

*P5-13B (a) Gross profit, $194,000; Loss, $(7,095); Ending

capital, $122,055; Total assets, $376,100

Cumulative (c) Trial balance totals, $652,335

Coverage (e) Adjusted trial balance totals, $661,360
(f) Gross profit, $181,872; Profit, $70,442; Ending
capital, $71,242; Total assets, $133,617
(h) Post-closing trial balance totals, $155,742

BYP5-1 (e) Profit margin 2015 (0.4)%

BYP5-2 (c) Gross profit margin, 2015, 43.8%

BYP5-6 (c) Cash balance, $3,046; Trial balance totals,

$10,617
(e) Adjusted trial balance totals, $10,668
(f) Gross profit, $2,020; Profit, $1,588