Option C: $200,300
During the month, merchandise is sold for $81,000 cash and for $119,300 on account. The cost...
During the current year, merchandise is sold for $107,500 cash and $651,000 on account. The cost of the goods sold is $538,500. What is the amount of the gross profit?
During the current year, merchandise is sold for $63,100 cash and for $83,700 on account. The cost of the goods sold is $95,420. What is the amount of the gross profit?
Andrea’s Fashions sold merchandise for $203000 cash during the month of July. Returns that month totaled $3100. If the company’s gross profit rate is 40%, Andrea’s will report monthly net sales revenue and cost of goods sold of
Concord’s Fabrics sold merchandise for $209000 cash during the month of July. Returns that month totaled $3400. If the company’s gross profit rate is 35%, Concord will report monthly net sales revenue and cost of goods sold of $209000 and $133640. $209000 and $135850. $205600 and $71960. $205600 and $133640.
PE 6-1A Gross profit During the current year, merchandise is sold for $315,800 cash and $1,225,000 on account. The cost of the merchandise sold is $875,000. What is the amount of the gross profit? OBJ. 1 PE 6-1B Gross profit During the current year, merchandise is sold for $18,300 cash and $295,700 on account The cost of the merchandise sold is $188,000. What is the amount of the gross profit? OBJ. 1 Purchases transactions PE 6-2A 290 Halibut Company purchased...
A company sold merchandise with a cost of $213 for $440 on account. The seller uses the perpetual inventory sy he entry to record the cost of merchandise sold would include a debit to Sales Revenue and a credit to Cash for $440 a debit to Cash and a credit to Sales Revenue for $440 a debit to Merchandise Inventory for $213 and a credit to Cost of Goods Sold for $213 debit to Cost of Goods Sold and a...
During the current year, merchandise is sold for $31,850,000. The cost of the merchandise sold is $24,206,000. a. What is the amount of the gross profit? b. Compute the gross profit percentage (gross profit divided by sales). c. When will the income statement necessarily report a net income?
1) 2) 3) Gross Profit During the current year, merchandise is sold for $100,000 cash and $505,400 on account. The cost of merchandise sold is $423,800. What is the amount of the gross profit? Purchases Transactions Rolfes Company purchased merchandise on account from a supplier for $11,100, terms 2/10, n/30. Rolfes Company returned $2,300 of the merchandise and received full credit. a. If Rolfes Company pays the invoice within the discount period, what is the amount of cash required for...
sold merchandise for cash ( cost of merchandise $40,797) $75,200 received merchandise returned by costumers as unsatisfactory ( but in perfect condition ) for cash refund (original cash of merchandise $540) $900 sold merchandise ( costing $7600) to a costumer on account with term n/60 $16,000 collected half of the balance owed by the costumer in (c) $8,000 granted a partial allowance relating to credit sales the costumer in (c) had not paid yet $256 compute the net sales and...
a. During the month, the Supplies (asset) account was debited $3,600 for supplies purchased. The cost of supplies used during the month was $2,800. Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month b. An insurance premium of $960 was paid for the coming year. Prepaid Insurance was debited. c. Wages of $6,400 were paid for the current month. d. Interest revenue of $500 was received for the current month. e....