During the Year Ended 12/31/2020 the Financial Statements of XXX Co. should the followings: ...
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Accounting
During the Year Ended 12/31/2020 the Financial Statements of XXX Co. should the followings: Year Ended 2019 Year Ended 2020 Change Sales 2000 2500 500 Cost of Goods Sold 1600 2100 500 Gross Profit 400 400 0 Depreciation 20 25 5 Other Operating Expenses 80 175 95 Gain on sale of assets 10 Net Income 300 210 -90 Account Receivable 20 40 20 Account Payable 30 25 -5 Inventory 15 25 10 Equipment 100 130 30 less: Accumulated Depreciation -50 -70 -20
During the Year Ended 12/31/2020 the Financial Statements of XXX Co. should the followings:
Year Ended 2019
Year Ended 2020
Change
Sales
2000
2500
500
Cost of Goods Sold
1600
2100
500
Gross Profit
400
400
0
Depreciation
20
25
5
Other Operating Expenses
80
175
95
Gain on sale of assets
10
Net Income
300
210
-90
Account Receivable
20
40
20
Account Payable
30
25
-5
Inventory
15
25
10
Equipment
100
130
30
less: Accumulated Depreciation
-50
-70
-20
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