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

Presented here are the components in casilla company's income statement

13/11/2020 Client: papadok01 Deadline: 24 Hours

Brief Exercise 5-1
Presented here are the components in Casilla Company’s income statement.
Determine the missing amounts.
Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income

Brief Exercise 5-8
Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $404,000; Purchase Returns and
Allowances $13,000; Purchase Discounts $9,000; and Freight-in $16,000.
Determine net purchases and cost of goods purchased.
Net purchases $

Cost of goods purchased $

Brief Exercise 5-9
Assume that Tracy Company uses a periodic inventory system and has these account balances: Purchases $404,000; Purchase Returns and
Allowances $13,000; Purchase Discounts $9,000; and Freight-in $16,000. Tracy Company has beginning inventory of $60,000, ending
inventory of $90,000, and net sales of $612,000.
Determine the amounts to be reported for cost of goods sold and gross profit.

Cost of goods sold $
Gross profit $

Brief Exercise 5-10
Durbin Corporation reported net sales of $250,000, cost of goods sold of $150,000, operating expenses of $50,000, net income of $32,500,
beginning total assets of $520,000, and ending total assets of $600,000.
Calculate profit margin and gross profit rate. (Round answers to 0 decimal places, e.g. 10%.)


Profit margin %
Gross profit rate %

Exercise 5-6 (Part Level Submission)
Presented below is information for Zhou Co. for the month of January 2014.
Cost of goods sold $212,000 Rent expense $32,000
Freight-out 7,000 Sales discounts 8,000
Insurance expense 12,000 Sales returns and allowances 20,000
Salaries and wages expense 60,000 Sales revenue 370,000
(a)
Prepare an income statement using the multi-step format. Assume a 25% tax rate.

(b)
Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal place, e.g. 15.2%.)

Problem 5-2A
McCoy Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the
month of June, the following merchandising transactions occurred.
June 1 Purchased books on account for $1,040 (including freight) from Carlin Publishers, terms 2/10, n/30.
3 Sold books on account to the Goldschmidt bookstore for $1,200. The cost of the merchandise sold was $720.
6 Received $40 credit for books returned to Carlin Publishers.
9 Paid Carlin Publishers in full.
15 Received payment in full from the Goldschmidt bookstore.
17 Sold books on account to Town Crier for $1,200. The cost of the merchandise sold was $730.
20 Purchased books on account for $720 from Good Book Publishers, terms 1/15, n/30.
24 Received payment in full from Town Crier.
26 Paid Good Book Publishers in full.
28 Sold books on account to Emporia Bookstore for $1,300. The cost of the merchandise sold was $780.
30 Granted Emporia Bookstore $130 credit for books returned costing $80.
Journalize the transactions for the month of June for McCoy Warehouse, using a perpetual inventory system. (Credit account titles are
automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the
problem. Round answers to 0 decimal places e.g. 15,222.)

Problem 5-9A (Part Level Submission)
At the beginning of the current season on April 1, the ledger of Flint Hills Pro Shop showed Cash $ 2,500 ; Inventory $ 3,500 ; and Common
Stock $ 6,000 . The following transactions occurred during April 2014.
Apr. 5 Purchased golf bags, clubs, and balls on account from Akers Co. $ 1,500 , terms 3 /10, n/60.
7 Paid freight on Akers Co. purchases $ 80 .
9 Received credit from Akers Co. for merchandise returned $ 200 .
10 Sold merchandise on account to members $ 1,340 , terms n/30.
12 Purchased golf shoes, sweaters, and other accessories on account from Palmer Sportswear $ 830 , terms 1 /10, n/30.
14 Paid Akers Co. in full.
17 Received credit from Palmer Sportswear for merchandise returned $ 30 .
20 Made sales on account to members $ 810 , terms n/30.
21 Paid Palmer Sportswear in full.
27 Granted credit to members for clothing that did not fit properly $ 80 .
30 Received payments on account from members $ 1,220 .

(a)
Journalize the April transactions using a periodic inventory system. (Credit account titles are automatically indented when amount is
entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(b)
Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal
entries posted in part a.)

(c)
Prepare a trial balance on April 30, 2014.

(d)
Prepare an income statement through gross profit, assuming inventory on hand at April 30 is $4,263.

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:

Buy Coursework Help
Quality Homework Helper
Smart Tutor
Writer Writer Name Offer Chat
Buy Coursework Help

ONLINE

Buy Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

Hi dear, I am ready to do your homework in a reasonable price.

$62 Chat With Writer
Smart Tutor

ONLINE

Smart Tutor

Hi, After reviewing your project description, I understand well. I am a highly-skilled writer who has strong visual awareness, exemplary grammar and spelling knowledge, and the ability to analyze and modify. When it comes to missing links and correcting errors, look no farther. Without the need of any online rewriting tool I can turn your old content into a new and exciting piece of plagiarism free writing. Remember, your content could be a first impression. If you send out material that is riddled with misspellings, grammatical errors, and wrong information, you aren’t going to be presenting a good image of your business. Let’s get that content in tip-top shape today.

$60 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

Eddy current loss depends on - M4 Project: Autopsy Documentation Instructions - Chemguide rate of reaction - Chase sapphire creating a millennial cult brand - The functional areas of a business are - Bsbwor202 organise and complete daily work activities - Week 3 Marketing Management - Case Study in Health Care Financial Ethics - The trade war b/w US and China - What are the family resources and needs - A case structure is the only decision structure that can be used in a menu-driven program. - Indu prasad azim premji foundation - How to cite a 10k report apa - Maths - Write a seven-page book analysis paper of servant leadership -- APA format!! - How many different gamete combinations can be produced - Choate prep school pronunciation - Pat fenlon coronation street - Strategic Management 479 - Hastelloy c276 welding procedure - Matlab - Mon tues wed thurs fri sat sun - 750 10 unc 2a - Shrek 1 release date - Solid waste engineering a global perspective - 3 page paper Biography - How to prepare a production cost report - Dubai race car experience - A box of cereal has the following claim - What is pseudo listening - Confirmation letter for subsidiary company - One trial learning definition - Financial promotions approval checklist - Survival analysis techniques for censored and truncated data dataset - Infrastructure Modernization Review - What mineral helps keep blood vessels unblocked - Separation of personal and professional ethics - Final Research paper - King tut essay - 50 states that rhyme - Week 1 - Assignment: Evaluate How Information Systems Detect Unethical Activities - A beautiful mind movie questions - How to draw a climate - Chinese Mythology and Tales - Eso flipping the coin - Escoge la opción que mejor resume el cortometraje - Drake precision dental lab - Shadow health focused exam cough - Nursing - Three categories of computer crime - CASE 30 ST. BENEDICT’S TEACHING HOSPITAL Merger Analysis - Injustice in montana 1948 - Race in america matthew desmond pdf - Wiltshire butterfly conservation sightings - Ati the communicator clients displaying aggressive behavior - Principles of distributed database systems exercise solutions - Stasis dermatitis ayurvedic treatment - What is a stressed syllable - How to write reflection 3 for english sba - Week 2 - Identity and Access Management - Elements of an ethical sampling plan in nursing - 1984 george orwell quiz - What does ima stand for in accounting - Ch3och3 polar or nonpolar - Ben & jerry's unilever acquisition - Westpac financial planning sale - Bsbwor203 work effectively with others answers - The sound of music assignment - College at risk by andrew delbanco summary - Active shooter washington state - Research Design & Methodology Part for Research Paper - A2 dimensions in mm - Principles of management and organisational behaviour book pdf - Pre lab activity worksheet cells - Myteacherpages answers - Mission and vision - Stemco crewson slack adjuster - Is 500 a perfect square - Curvilinear model of anxiety - Essex hash house harriers - Fired heaters in refineries - Resources and capabilities analysis - Data Mininig - Management accounting exercises and solutions - Www purplemath com modules exponent htm - Telstra byo plans $39 - Engineering ethics case study assignment - Vera bradley trunk show 2019 - Example of a thesis statement of a short story - Maya angelou champion of the world full text - YouTube - Balanced chemical formula for photosynthesis - Marriott five forces analysis - Assignment - Honeyguide bird and honey badger - Hp-ux 11i v3 end of support - A 1.5 ghz microprocessor approximately contains how many transistors - Fremont high school norton reader - Timken bearing damage analysis poster