Homework Answers
a. For Kleiner Merchandising Company
Goods available for sale = Beginning inventory + Net purchases
Goods available for sale = $6,500 + $$6,300 = $12,800
Cost of goods sold = Goods available for sale - Closing inventory
Cost of goods sold = $12,800 - $2,300 = $10,500
Gross profit = Net sales - Cost of goods sold
Gross profit = $12,500 - $10,500 = $2,000
b. Net income for Krug Service Company = Revenues - Expenses
Net income = $17,000 - $8,800 = $8,200
Net income for Kleiner Merchandising Company = Gross profit - Expenses
Net income = $2,000 - $1,600 = $400
Add Answer to:
700 2, 300 12,500 17,000 820 200 1, 600 gross profit, thegoods available for sale, and...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700 8,500 4,500 1,800 9,500 16,500 $ 8. 100 21,000 Krug Service Company Expenses Revenues Cash Prepaid rent Accounts payable Equipment 600 640 200 1.900 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to...
Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 11,500 Ending Inventory 6,900 Expenses 2,100 Net...
Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 11,500 Ending Inventory 6,900 Expenses 2,100 Net Purchases 14,300 Net Sales 22,500 Krug Service Company Expenses $ 8,700 Revenues 27,000 Cash 700 Prepaid rent 680 Accounts payable Equipment 2,500 200 Required: a. Compute the goods available for sale, the cost of goods sold, and the gross profit for the merchandiser. Hint: Not all information may be necessary. 3. Use the above information from a service company and from a merchandiser to...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700 8,500 4,500 1.800 9,500 16,500 Krug Service Company Expenses $ 8,100 Revenues 21,000 Cash 600 Prepaid rent Accounts payable 200 Equipment 1,900 640 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to compute...
Help ASAP please Accumulated depreciation Beginning inventory Ending Inventory Expenser Net Purchases Net Sales $ 700...
Help ASAP please
Accumulated depreciation Beginning inventory Ending Inventory Expenser Net Purchases Net Sales $ 700 8,000 3,600 1,750 8,700 15,500 Expenses Revenues Cash Prepaid rent Accounts payable Equipnent $ 9,100 20,000 800 840 200 1,900 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to compute net income. a...
Use the following information (in random order) from a merchandising company and from a service company....
Use the following information (in random order) from a merchandising company and from a service company. Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 12,000 Ending Inventory 7,200 Expenses 2,150 Net Purchases 15,100 Net Sales 23,500 Krug Service Company Expenses $ 10, 200 Revenues 28,000 Cash 800 Prepaid rent 580 Accounts payable 200 Equipment 2,500 Required: a. Compute the goods available for sale, the cost of goods sold, and the gross profit for the merchandiser. Hint: Not all information...
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31% Sat 10:19 AM a Quiz #2-Chapters 3 & 4 Help Save & Exit Submit 31 Aecuaulated depreciation Beginning inventory Ending Inventory Expenses $700 14,000 2.350 18,300 27,500 Net Salea 800312 s 10,300 32,000 1,000 920 200 3,100 eBlook Cash Prepaid rent Rocounts payable Eguipnent Required a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiset. Hint Not all information may be necessary b. Use the above information from a service company...
QS 5 3 Merchandise accounts and computations c2 Use the following information (in random order) from...
QS 5 3 Merchandise accounts and computations c2 Use the following information (in random order) from a merchandising company and from a service company. Hint: Not all information may be necessary for the solutions. a. For the merchandiser only, compute (1) goods available for sale, (2) cost of goods sold, and (3) gross profit. b. Compute net income for each company Kleiner Merchandising Company Krug Service Company Accumulated depreciation Beginning inventory Ending inventory $ 700 5,000 1.700 Expenses Net purchases...
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connect theducation.com Ch 4 w 3 Use the following information on random order from a merchandising company and from a service company Alated depreciation 30 5. Accounts payable a. Compute the goods available for sale, the cost of goods sold and gross profit for the merchandiser. Hint. Not all information may be necessary b. Compute net income for each company Goods available for sale Cost of goods sold Gross prom 1. Net Income for Krug Service Company Nincome for Mel...
prodigy99 - Yaho... PayPal S CS:GO Stats Fatsa UPS Careers KHEAA Verily KCTCS My Path Vector...
prodigy99 - Yaho... PayPal S CS:GO Stats Fatsa UPS Careers KHEAA Verily KCTCS My Path Vector Saved QS 4-3 Merchandise accounts and computations LO C2 Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 13,000 Ending inventory 7,800 Expenses 2,250 Net purchases 16,700 Net sales 25,500 Krug Service Company Expenses $ 9,000 Revenues 30,000 Cash 750 Prepaid rent 700 Accounts payable Equipment 2.800 200 Required: a. Compute the goods available for sale, and the cost of goods sold and gross...
Question 37 1 pts Market 1 Market 2 $350 $900 $800 $300 $700 $250 $600 $200...
Question 37 1 pts Market 1 Market 2 $350 $900 $800 $300 $700 $250 $600 $200 $500 $150 $100 $400 $300 $200 $100 $0 0 1 2 3 4 9 10 11 12 13 0 1 2 3 7 8 9 10 5 6 7 8 Q (Market 1) 4 5 6 Q (Market 2) The graph above shows the demand functions for a product sold by a monopolist in two different markets. The monopolist faces a constant marginal cost...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700 8,500 4,500 1,800 9,500 16,500 $ 8. 100 21,000 Krug Service Company Expenses Revenues Cash Prepaid rent Accounts payable Equipment 600 640 200 1.900 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to...
Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 11,500 Ending Inventory 6,900 Expenses 2,100 Net Purchases 14,300 Net Sales 22,500 Krug Service Company Expenses $ 8,700 Revenues 27,000 Cash 700 Prepaid rent 680 Accounts payable Equipment 2,500 200 Required: a. Compute the goods available for sale, the cost of goods sold, and the gross profit for the merchandiser. Hint: Not all information may be necessary. 3. Use the above information from a service company and from a merchandiser to...
Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending Inventory Expenses Net Purchases Net Sales 700 8,500 4,500 1.800 9,500 16,500 Krug Service Company Expenses $ 8,100 Revenues 21,000 Cash 600 Prepaid rent Accounts payable 200 Equipment 1,900 640 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to compute...
Help ASAP please
Accumulated depreciation Beginning inventory Ending Inventory Expenser Net Purchases Net Sales $ 700 8,000 3,600 1,750 8,700 15,500 Expenses Revenues Cash Prepaid rent Accounts payable Equipnent $ 9,100 20,000 800 840 200 1,900 Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint Not all information may be necessary b. Use the above information from a service company and from a merchandiser to compute net income. a...
Use the following information (in random order) from a merchandising company and from a service company. Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 12,000 Ending Inventory 7,200 Expenses 2,150 Net Purchases 15,100 Net Sales 23,500 Krug Service Company Expenses $ 10, 200 Revenues 28,000 Cash 800 Prepaid rent 580 Accounts payable 200 Equipment 2,500 Required: a. Compute the goods available for sale, the cost of goods sold, and the gross profit for the merchandiser. Hint: Not all information...
31% Sat 10:19 AM a Quiz #2-Chapters 3 & 4 Help Save & Exit Submit 31 Aecuaulated depreciation Beginning inventory Ending Inventory Expenses $700 14,000 2.350 18,300 27,500 Net Salea 800312 s 10,300 32,000 1,000 920 200 3,100 eBlook Cash Prepaid rent Rocounts payable Eguipnent Required a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiset. Hint Not all information may be necessary b. Use the above information from a service company...
QS 5 3 Merchandise accounts and computations c2 Use the following information (in random order) from a merchandising company and from a service company. Hint: Not all information may be necessary for the solutions. a. For the merchandiser only, compute (1) goods available for sale, (2) cost of goods sold, and (3) gross profit. b. Compute net income for each company Kleiner Merchandising Company Krug Service Company Accumulated depreciation Beginning inventory Ending inventory $ 700 5,000 1.700 Expenses Net purchases...
connect theducation.com Ch 4 w 3 Use the following information on random order from a merchandising company and from a service company Alated depreciation 30 5. Accounts payable a. Compute the goods available for sale, the cost of goods sold and gross profit for the merchandiser. Hint. Not all information may be necessary b. Compute net income for each company Goods available for sale Cost of goods sold Gross prom 1. Net Income for Krug Service Company Nincome for Mel...
prodigy99 - Yaho... PayPal S CS:GO Stats Fatsa UPS Careers KHEAA Verily KCTCS My Path Vector Saved QS 4-3 Merchandise accounts and computations LO C2 Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 13,000 Ending inventory 7,800 Expenses 2,250 Net purchases 16,700 Net sales 25,500 Krug Service Company Expenses $ 9,000 Revenues 30,000 Cash 750 Prepaid rent 700 Accounts payable Equipment 2.800 200 Required: a. Compute the goods available for sale, and the cost of goods sold and gross...
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