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

The current period's ending inventory is

08/11/2021 Client: muhammad11 Deadline: 2 Day

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:

Engineering Guru
Finance Master
A+GRADE HELPER
Math Guru
Ideas & Innovations
Instant Homework Helper
Writer Writer Name Offer Chat
Engineering Guru

ONLINE

Engineering Guru

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$38 Chat With Writer
Finance Master

ONLINE

Finance Master

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$33 Chat With Writer
A+GRADE HELPER

ONLINE

A+GRADE HELPER

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$47 Chat With Writer
Math Guru

ONLINE

Math Guru

I have assisted scholars, business persons, startups, entrepreneurs, marketers, managers etc in their, pitches, presentations, market research, business plans etc.

$16 Chat With Writer
Ideas & Innovations

ONLINE

Ideas & Innovations

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$35 Chat With Writer
Instant Homework Helper

ONLINE

Instant Homework Helper

I have done dissertations, thesis, reports related to these topics, and I cover all the CHAPTERS accordingly and provide proper updates on the project.

$41 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

Advanced Business Statistics - What might a french peasant have grumbled about in 1789 - Imagery examples in the book thief - A portrait of linear algebra 3rd edition pdf - Alinta price fact sheet - Canberra sand and gravel west belconnen resource management centre - Disadvantages of technology in nursing - Value sensitive design and information systems - Teaching plan format for nurses - 1z0 071 exam dumps - Cam therapeutic modalities - Article Analysis 1 - Week 5 cyber crimes - Why do technologies often improve faster than customer requirements - Buy muralo paint online - Our father who art in heaven hallowed - Nurs561w2 - Mathematics - Adding scalar multiples of vectors graphically mastering physics - How to find the radius of two concentric circles - Types of family resources in home economics - An integrated labor management system for taco bell - Men's men and women's women steve craig - How loud is 84 db - Flu - Wayne kerr 3260b manual - 201 bus timetable cork - How do information systems improve business processes - Ikea case study operations management - Week 6 Medication Paper Rough Draft Pharmacology - Conflict Resolution through Emotional Competence - Common interface module removed - Celestron powerseeker 127eq collimation - Rrna synthesis takes place in - 2006 crf250x oil capacity - How to determine the purity of benzoic acid - Frederick meredith descendants group - Whistleblowing in publicly traded companies within the last 12 months - Bend it in supplication crossword 4 letters - Technical communication mike markel pdf - Please select topic - Lse general course acceptance rate - Dorothy barley junior school - Profissional Applied Project - MILITARY DEATHS - Modern history sample answers - Unit 8.1 DB: Do I conform? - Www businessballs com howardgardnermultipleintelligences htm - Module 2 Journal Article Analysis - Fortune 100 best companies to work for non union - School council speech samples - Found voices - What does guac mode verified mean chipotle - Gadget junkie text file for builds not formatted correctly - London ambulance service project failure - Independent set problem np complete - Motivation - Heil farid european dunfermline - Is bouquet a collective noun - All saints church speke - Powerpoint presentation and note - Staffing issues interactive case study - Sales and accounts receivable cycle flowchart - Lincoln hall university of nottingham - Under armour annual report 2015 - Essay - Apa 6th referencing uq - Sci 207 week 3 lab - Stump grinder hire travis perkins - Quick write - Profit Payoff Decision Role Play Activity - Team Project -- my part - Access 2016 module 1 sam project 1a - Australian international movers association - Rcbs trim pro case trimmer power conversion unit - Net of cone with measurements - A 1500 kg car drives around a flat 200 - A kitchen poem gwen harwood - How to fill gyprock holes - How does palmer describe communism - Strata managing agent licence - Educators guide to the eylf - Upper body pnf stretching examples - Coca cola mission vision statement - Paper 08/07 - Answer to peer, APA 6, 2 References, Similarities Less 5% - 5 steps in developing effective marketing communication - Consider an economy described by the production function - Public health job cover letter - Khan academy negative externalities - Assertiveness skills for managers and supervisors - Lumière supporting a virtual workspace on the cloud - Penn foster basic skills assessment test - Thread 1&2 - Mister jones side effects - Employer associations examples australia - Excel quiz - Norman macdonald maxims and moral reflections - As nzs 3788 2006 pdf - Wire rope safety barrier vicroads