Homework Answers
Answer
· Equation: Sales – Cost of Goods Sold = Gross Profits.
· Hence,
Sales – Gross profits = Cost of Goods Sold
$ 405600 – 171100
= $ 234,500
· Correct Answer = Option #4: $ 234,500
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TB MC Qu. 04-80 A company has sales of... A company has sales of $405,600 and...
TB MC Qu. 04-96 A company's gross profit... A company's gross profit (or gross margin) was...
TB MC Qu. 04-96 A company's gross profit... A company's gross profit (or gross margin) was $126,910 and its net sales were $494,200. Its gross margin ratio is: Multiple Choice 1:13 74.3% 8.9% $126.910 25.7% $367.290 < Prev 4 of 12 Next >
Saved TB MC Qu. 01-135 The assets of a company... The assets of a company total...
Saved TB MC Qu. 01-135 The assets of a company... The assets of a company total $716,000; the liabilities, $208,000. What is the amount of equity? Multiple Choice $924.000. $716,000 $508,000 < Prey 8 of 19 Next >
TB MC Qu. 07-04 Gideon Company
TB MC Qu. 07-04 Gideon Company
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to...
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to production. Ο Can be traced to units of product in the same way that direct materials can Ο Cannot be traced to units of product in the same way that direct labor can. Ο Are period costs. Ο Include only fixed costs. Next
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Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
55-16 Sowed Help Save & Exit TB MC Qu. 04-102 Jasper Company is a wholesaler that......
55-16 Sowed Help Save & Exit TB MC Qu. 04-102 Jasper Company is a wholesaler that... Jasper Company is a wholesaler that buys merchandise in large quantities. Its supplier's catalog indicates a list price of $500 per unit on merchandise Jasper intends to purchase. offers a 30% trade discount for large quantity purchases. The cost of shipping for the merchandise is $7 per unit. Jasper's total purchase price per unit will be: Multiple Choice $507 O $350 O $352 O...
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...
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TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5...
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co....
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co. had net sales of $4.2 million and ending accounts receivable of $0.8 million. Its days' sales uncollected equals: Multiple Choice * 53 days int onces 695 days o 19.2 days
TB MC Qu. 04-96 A company's gross profit... A company's gross profit (or gross margin) was $126,910 and its net sales were $494,200. Its gross margin ratio is: Multiple Choice 1:13 74.3% 8.9% $126.910 25.7% $367.290 < Prev 4 of 12 Next >
Saved TB MC Qu. 01-135 The assets of a company... The assets of a company total $716,000; the liabilities, $208,000. What is the amount of equity? Multiple Choice $924.000. $716,000 $508,000 < Prey 8 of 19 Next >
TB MC Qu. 07-04 Gideon Company
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to production. Ο Can be traced to units of product in the same way that direct materials can Ο Cannot be traced to units of product in the same way that direct labor can. Ο Are period costs. Ο Include only fixed costs. Next
TB MC Qu. 04-38 What type of account is the... Nhat type of account is the Cost of Goods Sold account? Multiple Choice Contra asset Asset Liability Expense "BMC Qu. 04-51 Anchor Company sold merchandise with a cost... Anchor Company sold merchandise with a cost of $560 to a customer for $890 on account. Due to an error, this sale was never recorded in the accounting records. What effect will the failure to make the necessary entries have on the...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
55-16 Sowed Help Save & Exit TB MC Qu. 04-102 Jasper Company is a wholesaler that... Jasper Company is a wholesaler that buys merchandise in large quantities. Its supplier's catalog indicates a list price of $500 per unit on merchandise Jasper intends to purchase. offers a 30% trade discount for large quantity purchases. The cost of shipping for the merchandise is $7 per unit. Jasper's total purchase price per unit will be: Multiple Choice $507 O $350 O $352 O...
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
TB MC Qu. 04-107 A company purchased... A company purchased $2,200 of merchandise on July 5 with terms 3/10,n/30. On July 7, it returned $240 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: $240. $1894. $1,901. $1,960 $2200
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co. had net sales of $4.2 million and ending accounts receivable of $0.8 million. Its days' sales uncollected equals: Multiple Choice * 53 days int onces 695 days o 19.2 days
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