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Calculator Using the following information, what is the amount of gross profit? Purchases $ 25,113 Selling...
Using the following information, what is the amount of net income? Purchases $ 34,731 Selling expenses $ 792 Merch...
Using the following information, what is the amount of net income? Purchases $ 34,731 Selling expenses $ 792 Merchandise inventory, September 1 6,398 Merchandise inventory, September 30 8,121 Administrative expenses 1,182 Sales 45,763 Rent revenue 706 Interest expense 815 a.$12,302 b.$18,793 c.$4,274 d.$10,672
1.Abbey Co. sold merchandise to Gomez Co. on account, $33,000, terms 2/15, net 45. The cost...
1.Abbey Co. sold merchandise to Gomez Co. on account, $33,000, terms 2/15, net 45. The cost of the merchandise sold was $13,700. Abbey Co. issued a credit memo for $3,200 for merchandise returned that originally cost $1,500. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions? 2.Using the following information, what is the amount of net income? Purchases $ 29,425 Selling expenses $ 751 Merchandise...
Using the following information, compute GROSS PROFIT. Cost of Goods Sold &n
Using the following information, compute GROSS PROFIT. Cost of Goods Sold $ 6,000 Interest Expense 1,100 Selling and Administrative Expense 750 Cash 400 Sales 10,000 Accrued Wages Payable 250 Dividends 700 Retained Earnings (beginning) 1,000 Income Tax Expense 1,200 $5,100 $3,250 $2,150 $4,000 $4,400
Using the following information, what is the amount of net sales? What is Cost of Goods...
Using the following information, what is the amount of net sales? What is Cost of Goods Sola? $32,000 $960 5,700 Purchases Merchandise inventory September 1 Sales returns and allowances Purchases returns and allowances P urchases discounts Merchandise inventory September 30 Sales 6,370 910 63,000 1,200 Freight in 1,040
E9.14 (LO 4) (Gross Profit Method) Mark Price Company uses the gross profit method to estimate...
E9.14 (LO 4) (Gross Profit Method) Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $160,000 Purchases (gross) 640,000 Freight-in 30,000 Sales revenue 1,000,000 Sales returns 70,000 Purchase discounts 12,000 Instructions a. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of sales. b. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of...
Calculate Gross profit margin, Operating profit margin, Net profit margin and total return on total assets....
Calculate Gross profit margin, Operating profit margin,
Net profit margin and total return on total assets.
EXHIBIT 5: GRIG PROFIT-AND-LOSS AND BALANCE SHEET, DECEMBER 2015 (IN €) Profit and Loss December 2015 Balance Sheet December 2015 Liabilities 32,590 Assets Fixed Assets Cash 1,009 Revenue Variable Costs Freelance Knitters Gross Profit 16,062 1,452 15,076 Debtors Furniture and Fixtures Stock Current Assets Total Assets 270 740 Rent 2,019 Staffing 4,225 7,462 156 2,019 Liabilities Insurance Loan Repayments Website 858 1,740 Loan Total...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling price 325,000 $12 $171,000 Direct materials $505,000 Direct labor Manufacturing overhead $110,000 $433,000 Selling expense Administrative expense $869,000 Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Calculate the sales revenue for last year. 2. Prepare an income statement for Jasper for last year. Labels and Amount Descriptions Refer to the list below for the exact...
eBook Calculator Gross Profit Method Based on the following data, estimate the cost of the ending...
eBook Calculator Gross Profit Method Based on the following data, estimate the cost of the ending inventory: Sales $4,300,000 42% Estimated gross profit rate Beginning inventory Purchases (net) $2,477,000 251,000 $2,728,000 Merchandise available for sale Estimated Cost of Ending Inventory Merchandise available for sale $2,728,000 Estimated cost of goods sold 4,300,000 Estimated ending inventory Feedback Check My Work Inventory available for sale - estimated cost of goods sold = estimated cost of inventory. Recall that the estimated cost of goods...
Cherokee Inc. is a merchandiser that provided the following Information: Amount 14,000 18 Number of units...
Cherokee Inc. is a merchandiser that provided the following Information: Amount 14,000 18 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 19,000 $ 14,000 $ 10,000 $ 23,000 $ 88,000 $ Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 252.000 75,000...
Question 9 3 pts Using the following information, what is the amount of merchandise available for sale? $32,000 5,700 $...
Question 9 3 pts Using the following information, what is the amount of merchandise available for sale? $32,000 5,700 $960 6,370 Purchases Merchandise inventory September 1 Sales returns and allowances Purchases returns and allowances Purchases discounts Merchandise inventory September 30 Sales 910 63,000 1,200 Freight In 1,040 35,540 36,580 37,700 34,500
Using the following information, what is the amount of net sales? What is Cost of Goods Sola? $32,000 $960 5,700 Purchases Merchandise inventory September 1 Sales returns and allowances Purchases returns and allowances P urchases discounts Merchandise inventory September 30 Sales 6,370 910 63,000 1,200 Freight in 1,040
Calculate Gross profit margin, Operating profit margin,
Net profit margin and total return on total assets.
EXHIBIT 5: GRIG PROFIT-AND-LOSS AND BALANCE SHEET, DECEMBER 2015 (IN €) Profit and Loss December 2015 Balance Sheet December 2015 Liabilities 32,590 Assets Fixed Assets Cash 1,009 Revenue Variable Costs Freelance Knitters Gross Profit 16,062 1,452 15,076 Debtors Furniture and Fixtures Stock Current Assets Total Assets 270 740 Rent 2,019 Staffing 4,225 7,462 156 2,019 Liabilities Insurance Loan Repayments Website 858 1,740 Loan Total...
Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling price 325,000 $12 $171,000 Direct materials $505,000 Direct labor Manufacturing overhead $110,000 $433,000 Selling expense Administrative expense $869,000 Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Calculate the sales revenue for last year. 2. Prepare an income statement for Jasper for last year. Labels and Amount Descriptions Refer to the list below for the exact...
eBook Calculator Gross Profit Method Based on the following data, estimate the cost of the ending inventory: Sales $4,300,000 42% Estimated gross profit rate Beginning inventory Purchases (net) $2,477,000 251,000 $2,728,000 Merchandise available for sale Estimated Cost of Ending Inventory Merchandise available for sale $2,728,000 Estimated cost of goods sold 4,300,000 Estimated ending inventory Feedback Check My Work Inventory available for sale - estimated cost of goods sold = estimated cost of inventory. Recall that the estimated cost of goods...
Cherokee Inc. is a merchandiser that provided the following Information: Amount 14,000 18 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 19,000 $ 14,000 $ 10,000 $ 23,000 $ 88,000 $ Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 252.000 75,000...
Question 9 3 pts Using the following information, what is the amount of merchandise available for sale? $32,000 5,700 $960 6,370 Purchases Merchandise inventory September 1 Sales returns and allowances Purchases returns and allowances Purchases discounts Merchandise inventory September 30 Sales 910 63,000 1,200 Freight In 1,040 35,540 36,580 37,700 34,500
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