Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the...
Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year:
| Utilities for the store | $ 9500 | ||||||||||||
| Sales commissions | 10,500 | ||||||||||||
| Sales revenue | 164,200 | ||||||||||||
| Purchases of merchandise | 89,300 | ||||||||||||
| January 1 inventory | 27,100 | ||||||||||||
| Rent for store | 14,400 | ||||||||||||
| December 31 inventory |
23,300 |
||||||||||||
|
What is operating income?
|
Homework Answers
Inventory used = 27100+89300-23300
= 93,100
Operating income
= 164,200-93,100-9,500-10,500-14,400
= 36,700
Add Answer to:
Paper Clip Company sells office supplies. The following
information summarizes the company's operating activities for the...
Company X sells widgets. The following information summarizes the company's operating activities for the year: Beginning...
Company X sells widgets. The following information summarizes the company's operating activities for the year: Beginning inventory Sales revenue Sales commissions Rent for office Utilities for the office Purchases Ending inventory $7,800 $25,000 $1,000 S2,700 S1,900 $6,800 S5,300 What is gross profit? OA. $20,300 O B. S10,100 O C. $15,700 O D. $13,800
Crabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its operating activities...
Crabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its operating activities for the year: Selling Expenses Merchandise Inventory on December 31 Merchandise Inventory on January 1 Purchases of merchandise Rent for store Sales commissions Sales revenue $10,000 32,000 46,000 82,500 12,700 7,100 168,000 What is the cost per box of dry fruits if Crabapples sold 4.000 boxes of dry fruit during the vear? (Round vour answer to the nearest cent.) O A. $42.00 O B....
Renkas Brush Company sells standard hair brushes. The following information summarizes Renkas's operating activities for 2018:...
Renkas Brush Company sells standard hair brushes. The following information summarizes Renkas's operating activities for 2018: BE: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018. 2. Renkas sold 6,500 brushes in 2018. Compute the unit cost for one brush. i Data Table - X Requirement 1. Calculate the operating income for 2018. Selling and Administrative Expenses Purchases Renkas Brush Company Income Statement Year Ended December 31, 2018 44,200 71,500 130,000 Net Sales Revenue...
Root Brush Company sells standard hair brushes. The following information summarizes Root's operating activities for 2018:...
Root Brush Company sells standard hair brushes. The following information summarizes Root's operating activities for 2018: (Click the icon to view the information.) - X Data Table Requirements 1. Calculate the operating income for 2018. 2. Root sold 6,100 brushes in 2018. Compute the unit cost for one brush. $ Selling and Administrative Expenses 36,234 Requirement 1. Calculate the operating income for 2018. Purchases 65,880 Root Brush Company Income Statement Net Sales Revenue Merchandise Inventory, January 1, 2018 Merchandise Inventory,...
Conway Brush Company sells standard hair brushes. The following information summarizes Conway's operating activities for 2018:...
Conway Brush Company sells standard hair brushes. The following information summarizes Conway's operating activities for 2018: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018. 2. Conway sold 6,600 brushes in 2018. Compute the unit cost for one brush. Requirement 1. Calculate the operating income for 2018. A Data Table Conway Brush Company Income Statement Year Ended December 31, 2018 Revenue: Selling and Administrative Expenses $ Purchases 47,058 85,800 151,800 Cost of Goods Sold:...
Peters Brush Company sells standard hair brushes. The following information summarizes Peters's operating activities for 2018:...
Peters Brush Company sells standard hair brushes. The following information summarizes Peters's operating activities for 2018: E: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018 2. Peters sold 6,300 brushes in 2018. Compute the unit cost for one brush. Requirement 1. Calculate the operating income for 2018 Peters Brush Company Income Statement Year Ended December 31, 2018 - X Revenue: Data Table Cost of Goods Sold: $ Selling and Administrative Expenses Purchases 53,550...
e following information summarizes Snyder's operating activities for 2 Data Table Selling and Administrative Expenses $...
e following information summarizes Snyder's operating activities for 2 Data Table Selling and Administrative Expenses $ 38,192 Purchases Net Sales Revenue Merchandise Inventory, January 1, 2018 60,480 123,200 8,400 2,352 Merchandise Inventory, December 31, 2018 Print Done the input fields and then click Check Answer Clear All F6 F7 F8 F9 F10 We were unable to transcribe this imageRequirements 1. Calculate the operating income for 2018. 2. Snyder sold 5,600 brushes in 2018. Compute the unit cost for,one brush. Purchases...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light box toys and sold 10,000 units in 2009. What is the cost of goods sold for 2009? Purchases Selling and Administrative Expenses Merchandising inventory, 1/1/2009 Merchandising inventory, 12/31/2009 $126,000 90,000 14,000 10,000 250,000 Sales Revenue $140,000 $124.000
#8 The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The...
#8
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $57,875 on January 1, 2019, and $50,825 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,275 on January 1, 2019, and $51,225 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases S02 Freight In 583 Purchases Returns and Allowances 584 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Company X sells widgets. The following information summarizes the company's operating activities for the year: Beginning inventory Sales revenue Sales commissions Rent for office Utilities for the office Purchases Ending inventory $7,800 $25,000 $1,000 S2,700 S1,900 $6,800 S5,300 What is gross profit? OA. $20,300 O B. S10,100 O C. $15,700 O D. $13,800
Crabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its operating activities for the year: Selling Expenses Merchandise Inventory on December 31 Merchandise Inventory on January 1 Purchases of merchandise Rent for store Sales commissions Sales revenue $10,000 32,000 46,000 82,500 12,700 7,100 168,000 What is the cost per box of dry fruits if Crabapples sold 4.000 boxes of dry fruit during the vear? (Round vour answer to the nearest cent.) O A. $42.00 O B....
Renkas Brush Company sells standard hair brushes. The following information summarizes Renkas's operating activities for 2018: BE: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018. 2. Renkas sold 6,500 brushes in 2018. Compute the unit cost for one brush. i Data Table - X Requirement 1. Calculate the operating income for 2018. Selling and Administrative Expenses Purchases Renkas Brush Company Income Statement Year Ended December 31, 2018 44,200 71,500 130,000 Net Sales Revenue...
Root Brush Company sells standard hair brushes. The following information summarizes Root's operating activities for 2018: (Click the icon to view the information.) - X Data Table Requirements 1. Calculate the operating income for 2018. 2. Root sold 6,100 brushes in 2018. Compute the unit cost for one brush. $ Selling and Administrative Expenses 36,234 Requirement 1. Calculate the operating income for 2018. Purchases 65,880 Root Brush Company Income Statement Net Sales Revenue Merchandise Inventory, January 1, 2018 Merchandise Inventory,...
Conway Brush Company sells standard hair brushes. The following information summarizes Conway's operating activities for 2018: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018. 2. Conway sold 6,600 brushes in 2018. Compute the unit cost for one brush. Requirement 1. Calculate the operating income for 2018. A Data Table Conway Brush Company Income Statement Year Ended December 31, 2018 Revenue: Selling and Administrative Expenses $ Purchases 47,058 85,800 151,800 Cost of Goods Sold:...
Peters Brush Company sells standard hair brushes. The following information summarizes Peters's operating activities for 2018: E: (Click the icon to view the information.) Requirements 1. Calculate the operating income for 2018 2. Peters sold 6,300 brushes in 2018. Compute the unit cost for one brush. Requirement 1. Calculate the operating income for 2018 Peters Brush Company Income Statement Year Ended December 31, 2018 - X Revenue: Data Table Cost of Goods Sold: $ Selling and Administrative Expenses Purchases 53,550...
e following information summarizes Snyder's operating activities for 2 Data Table Selling and Administrative Expenses $ 38,192 Purchases Net Sales Revenue Merchandise Inventory, January 1, 2018 60,480 123,200 8,400 2,352 Merchandise Inventory, December 31, 2018 Print Done the input fields and then click Check Answer Clear All F6 F7 F8 F9 F10 We were unable to transcribe this imageRequirements 1. Calculate the operating income for 2018. 2. Snyder sold 5,600 brushes in 2018. Compute the unit cost for,one brush. Purchases...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light box toys and sold 10,000 units in 2009. What is the cost of goods sold for 2009? Purchases Selling and Administrative Expenses Merchandising inventory, 1/1/2009 Merchandising inventory, 12/31/2009 $126,000 90,000 14,000 10,000 250,000 Sales Revenue $140,000 $124.000
#8
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $57,875 on January 1, 2019, and $50,825 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases 502 Freight In 503 Purchases Returns and Allowances 504 Purchases Discounts 611 Salaries Expense-Sales 614...
The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $58,275 on January 1, 2019, and $51,225 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts 401 Sales 451 Sales Returns and Allowances 491 Miscellaneous Income 501 Purchases S02 Freight In 583 Purchases Returns and Allowances 584 Purchases Discounts 611 Salaries Expense-Sales 614 Store...
Most questions answered within 3 hours.
-
Compile a list (7 or more) of other commands useful for
navigating or manipulating the UNIX/Linux...
asked 4 minutes ago -
How many grams of PbBr2 will precipitate when excess CrBr3
solution is added to 61.0 mL...
asked 6 minutes ago -
If I was given the address of 134.15.0.0/16 from my ISP and I
wanted to use...
asked 11 minutes ago -
What is the pH of the solution that results of dissolving 1.74g
of sodium hydroxide in...
asked 15 minutes ago -
Given a standardized normal distribution (with μ = 0 and a σ =
1), what is...
asked 53 minutes ago -
Given the following information:
acetic acid
CH3COOH
Ka = 1.8×10-5
triethylamine
(C2H5)3N
Kb = 5.2×10-4
(1)...
asked 39 minutes ago -
Potassium permanganate(KMNO4)is has a solubility of 6.4 g/ 100 g
of water at 20ºC, and 250...
asked 36 minutes ago -
51.
As the marginal propensity to expend rises, the multiplier:
decreases.
is impossible to determine.
increases....
asked 42 minutes ago -
The Baldwin Company currently has the following balances on their
balance sheet:
Total
Liabilities
$69,309
Common...
asked 45 minutes ago -
A quiet town in Kansas has 10 people, all of whom have the same
preferences. There...
asked 50 minutes ago -
Summarize what an organization needs from a leader.
a. Analyze what might happen to an organization...
asked 53 minutes ago -
How would one critically evaluate an organizations marketing
strategies from the viewpoint of its consumers, as...
asked 52 minutes ago