A portion of the statement of earnings for Tea Company is shown below. Provide the missing account titles and amounts. $$\begin{array} { | l | l | l | r | r | }
\hline \text { A. } &\underline{\quad\quad}&&{ \$ 110,000 } & \
\hline \text { B. }& \text { Sales returns and allowances } & &\underline{\quad\quad} & \
\hline \text { C. } & \underline{\quad\quad}& & & \$ 100,000 \
\hline \text { D. } &\underline{\quad\quad}& & &\underline{\quad\quad} \
\hline & \text { Gross Margin } & & & \$25,000\
\hline
\end{array}$$

Question

A portion of the statement of earnings for Tea Company is shown below. Provide the missing account titles and amounts. $$\begin{array} { | l | l | l | r | r | } 
\hline \text { A. } &\underline{\quad\quad}&&{ \$ 110,000 } & \
\hline \text { B. }& \text { Sales returns and allowances } &  &\underline{\quad\quad} & \
\hline \text { C. } & \underline{\quad\quad}& & & \$ 100,000 \
\hline \text { D. } &\underline{\quad\quad}& & &\underline{\quad\quad} \
\hline & \text { Gross Margin } & & & \$25,000\
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of A portion of the statement of earnings for Tea Company is shown below. Provide the missing account titles and amounts. $$\begin{array} { | l | l | l | r | r | } 
\hline \text { A. } &\underline{\quad\quad}&&{ \$ 110,000 } & \
\hline \text { B. }& \text { Sales returns and allowances } &  &\underline{\quad\quad} & \
\hline \text { C. } & \underline{\quad\quad}& & & \$ 100,000 \
\hline \text { D. } &\underline{\quad\quad}& & &\underline{\quad\quad} \
\hline & \text { Gross Margin } & & & \$25,000\
\hline
\end{array}$$

A Portion of the Statement of Earnings for Tea Company