Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

A company has sales of $375,000 and its gross profit is $157,500. its cost of goods sold equals:

05/11/2020 Client: arwaabdullah Deadline: 7 Days

A company had sales of $375,000 and its gross profit was $157,500. Its cost of goods sold equals:

$(217,000).

$375,000.

$157,500.

$217,500.

$532,500.

A company purchased $1,800 of merchandise on December 5. On December 7, it returned $200 worth of merchandise. On December 8, it paid the balance in full, taking a 2% discount. The amount of the cash paid on December 8 equals:

$200.

$1,564.

$1,568.

$1,600.

$1,800.

An account used in the periodic inventory system that is not used in the perpetual inventory system is

Merchandise Inventory

Sales

Sales Returns and Allowances

Accounts Payable

Purchases

Brig Company had $800,000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals:

$770,000.

$115,000.

$390,000.

$402,000.

$408,000.

Cost of goods sold:

Is another term for merchandise sales.

Is the term used for the cost of buying and preparing merchandise for sale.

Is another term for revenue.

Is also called gross margin.

Is a term only used by service firms.

Expenses of promoting sales by displaying and advertising merchandise, making sales, and delivering goods to customers are:

General and administrative expenses.

Cost of goods sold.

Selling expenses.

Purchasing expenses.

Nonoperating activities.

Herald Company had sales of $135,000, sales discounts of $2,000, and sales returns of $3,200. Herald Company's net sales equals:

• $5,200.
• $129,800.
• $133,000.
• $135,000.
• $140,200.

Merchandise inventory:

• Is a long-term asset.
• Is a current asset.
• Includes supplies.
• Is classified with investments on the balance sheet.
• Must be sold within one month.

On October 1, Courtland Company sold merchandise in the amount of $5,800 to Carter Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Courtland uses the periodic inventory system. The journal entry or entries that Courtland will make on October 1 is:

• Choice A
• Choice B
• Choice C
• Choice D
• Choice E

On October 1, Courtland Company sold merchandise in the amount of $5,800 to Carter Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Courtland uses the periodic inventory system. Carter pays the invoice on October 8, and takes the appropriate discount. The journal entry that Courtland makes on October 8 is:

• Choice A
• Choice B
• Choice C
• Choice D
• Choice E

On October 1, Mutch Company sold merchandise in the amount of $5,800 to Carr Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Mutch uses the perpetual inventory system. On October 4, Carr returns some of the merchandise. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. The entry or entries that Mutch must make on October 4 is:

• Choice A
• Choice B
• Choice C
• Choice D
• Choice E

On October 1, Robinson Company sold merchandise in the amount of $5,800 to Rosser, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Robinson uses the perpetual inventory system. The journal entry or entries that Robinson will make on October 1 is:

• Choice A
• Choice B
• Choice C
• Choice D

The amount recorded for merchandise inventory includes all of the following except:
• Purchase discounts.
• Returns and allowances.
• Freight costs paid by the buyer.
• Freight costs paid by the seller.
• Trade discounts.

The credit terms 2/10, n/30 are interpreted as:
• 2% cash discount if the amount is paid within 10 days, or the balance due in 30 days.
• 10% cash discount if the amount is paid within 2 days, or the balance due in 30 days.
• 30% discount if paid within 2 days.
• 30% discount if paid within 10 days.
• 2% discount if paid within 30 days.

The current period's ending inventory is:
• The next period's beginning inventory.
• The current period's cost of goods sold.
• The prior period's beginning inventory.
• The current period's net purchases.
• The current period's beginning inventory.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Finance Homework Help
Coursework Help Online
Writer Writer Name Offer Chat
Finance Homework Help

ONLINE

Finance Homework Help

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$70 Chat With Writer
Coursework Help Online

ONLINE

Coursework Help Online

Hey, I have gone through your job posting and become very much interested in working with you.I can deliver professional content as per your requirements. I am a multi-skilled person with sound proficiency in the English language for being a native writer who worked on several similar projects of content writing and can deliver quality content to tight deadlines. I am available for both online and offline writing jobs with the promise of offering an incredibly responsive and supreme level of customer service. Thanks!

$70 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Death investigation db2 - Practical Connection - Scope management plan example of it project - Distinguish between active and passive immunity - Paper edited - 5 DIFFERENT DISSCUSIONS THAT NEED TO BE DONE - How are the roles of men and women portrayed in the short story “The Story of an Hour” by Kate Chopin? - Healthcare assignment writing service - Raw facts such as letters words and sounds are called - 650-950 word memo soc350 - +64 9 912 7717 - Effect of high angle shot - 在線購買氯胺酮,購買MXM粉末,購買1P-LSD粉末,購買美沙酮,在線購買MDPV購買DMT粉末。 - Which ventral cavity subdivision has no bony protection - Writing Assignment - History of naa luro pdf - Binary linear programming excel - Coulomb's law find q2 - What is a verd - How do the light reactions help the calvin cycle - Telstra byo plans $39 - Nc state engineering career fair - Connected mcgraw hill school c3p0 - Business tax and money house bondi junction - Target behavior in observable and measurable terms - Acme Enterprise Scenario Residency Week - Introduction to combinatorics and graph theory - Advantages of partial retention program - Celta assignment focus on the learner example - Araceli mendoza alvarez released - Week 3 Research Paper: Electronic innovation and the government - Mba 610 final project part i - Suppose that the manufacturer of a gas clothes dryer - Analyze the concepts of leadership strategies in a health care organization - Operational Planning - Dual process model of grief counseling - Pretest and posttest research design - Three activities around halloween - Nmba code of conduct for nurses - Nmes parameters for quad strengthening - How to Segment a Market - S4 carlisle publishing services pvt ltd - Shield row primary school - Human resource Management - Guitar amp settings guide - As/nzs 3760 - test and tag intervals - Citadel target jamming technology - Calculate the oxidation number of cr in cro4-2 - PSYCHOLOGY - Address sequencing in computer architecture - Thomas sowell economic facts and fallacies pdf - Big little z what begins with - Denormalization produces a lower normal form. - Which of the following is a step in the preparation of a production cost report? - Construction Management & scheduling FINAL PROJECT - What is the difference between profession and occupation - Job seeker user guide - Norton intro to literature portable 12th edition - How to calculate average atomic weight - Standard deviation of x symbol - Don't Work With Wendy Lewis - E Marketing -7 - When did mc escher start making art - Mechanic shop business plan pdf - Vcaa drama solo 2021 - Introduction to the financial management of healthcare organizations - Section j bca 2010 - No gap dental australian unity - Interview of an entrepreneur assignment pdf what are the characteristics of bill gates - History - Do oak trees grow in australia - First act lola ce140 - Arden company reported the following costs and expenses - Client server computing is a - Disadvantages of pipeline transport - Characters in to kill a mockingbird - Essentials of business law 6th edition pdf - External growth strategy example - Www cws illinois edu thesis statement - In the short run a monopolistically competitive firm - Line drilling rock excavation - Electron vacuum systems tullamarine - Scout shop leicester forest east - Nursing - Power oriented linguistic style - Conch republic electronics case - How to change sample in eviews - Ethics and Healthcare Information Technology - Risk management principles and practices elliot pdf - Math homework help linear equations - Victoria university law degree - Biztalk 2010 system requirements - Social work skills for process recordings - The csirt is also known as the ir reaction team - Precis writing exercises - Environmental barriers to communication in nursing - Discussion Study 3 - Double rotate right avl tree - Basic glossary of film terms - External equity in hrm