Please fill in the blank entries in the table below X-cell Inc. 295,000 Stake Technology Inc. 485,000 Zcom Inc. Sales Sales Discounts Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit 485,000 2,250 9,000 2,400 22,500 459,850 269,000 200,600 201,000 119,750
Q: During the current year, merchandise is sold for $8,780,000. The cost of the goods sold is…
A: Given: Merchandise sold =$8780000Cost of goods sold =$5531400
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A: We have the following information: Sales revenue: $420,000 Sales returns and allowances: $1,400…
Q: For Mortenson Company, the following informationis available: Cost of goods sold £240,000 Sales…
A: Net Sales = Gross Sales - Sales Discount Net Sales = $400,000 - $8,000 Net Sales = $392,000
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A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Ziehart Pharmaceuticals reported Net Sales of $195,000 and Cost of Goods Sold of $66,600. Candy…
A: Gross Profit is the very important indicator of the operating abilities of the company. Gross Profit…
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A: The first step is to find out the cost of goods sold which is the variable cost of the product.The…
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A: Net Profit = Total revenue - Total expenses
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Q: Determine the missing elements of the Income Statement. Replace the letters with your answers. The…
A: Formula used: Net Sales = COGS + Gross Profit Goods available for sale = opening stock +…
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Q: Financial information is presented below: Operating expenses $ 24000 Sales returns and allowances…
A: Net Sales = Sales revenue - Sales discounts - Sales returns and allowances Net Sales = 162000 - 3000…
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A: The numerical has covered the concept of followings, Gross Margin is the difference between Net…
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A: Net sales in the business means sales revenue of the business after deducting sales discounts and…
Q: AIM CO. Casual Corners- Income Statement information for the year ending December 31, 2020.…
A: The income statement is one of the essential parts of the financial statements used for reporting…
Q: Financial information is presented below: Operating expenses $ 41000 Sales returns and allowances…
A: Net sales means sales after taking deduction of sales discounts and sales returns and allowances.
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A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
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Q: What is the value of B? Financial information is presented below for three different companies:…
A: Net sales in the business can be calculated by reducing sales returns from the sales value. Net…
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A: Here in this case we are required to calculate gross profit in (%). Gross profit is a profit derived…
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A: Introduction: An income statement is one of the financial statements of a business organization and…
Q: A company reported the following balances in some selected accounts: Purchases $ 18,000, Cost of…
A: Net Sales = Sales – Sales Discount Net Sales = 35,000 – 1,500 = $33,500
Q: Fill in the missing amounts. Yoste Company Noone Company Sales revenue $90,000 105000 Sales returns…
A: Gross Profit Rate = ( Gross Profit / Net Sales ) x 100 Profit Margin = ( Net Income / Net Sales ) x…
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A: Gross profit = Sales - Cost of merchandising sold Cost of merchandising sold = sales - Gross profit…
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A: Formula: Cash paid to suppliers = Cost of goods sold + Increase in inventory - increase in accounts…
Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and…
A: Gross Profit Margin Ratio = (Gross profit/Net sales) *100 where gross profit = Net sales - Cost of…
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A: As in question mentioned that what is the value of C so we are answering only C part.
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A: Gross profit is the income earned by a company after covering the cost of goods sold from the sales…
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A: Gross profit is calculated by deducting the cost of goods sold from the sales amount and net profit…
Q: How much is net income
A: Net income = Sales + other income - cost of sales + opening inventory - closing inventory -…
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A:
Q: Three items are missing in each of the following columns ano are identified by letter. Sales revenue…
A: Sales=Net sales+Sales discounts+Sales returns and allowances=$15,000+$10,000+$440,000=$465,000 b)…
Q: The income statement of Miller, Inc. includes the items listed below: $900,000 320,000 80,000 15,000…
A: 1. Cost of goods sold = Net Sales - Gross profit 2.Cost of goods available for sale =Beginning…
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A: Gross profit = Sales - Cost of goods sold Net Income = Gross profit - Operating Expenses
Q: Using the following information, what is the amount of net income? Purchases $32,000 Selling…
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A: Definition: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods…
Q: he following accounts of Rex Company are as follows: Sales P480,000; Cost of goods sold P300,000;…
A: Solution: Gross margin is computed as Net sales minus cost of goods sold.
Q: Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and…
A: The sales is the sum of gross sales revenue after netting off any discounts, returns and allowances…
Q: he following accounts of Rex Company are as follows: Sales P480,000; Cost of goods sold P300,000;…
A: Solution: Net sales is computed as deducting sales discounts and returns and allowances from total…
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A: Condensed financial statements are a summary form of a company's income statement, balance sheet,…
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A: Cost of goods sold = Opening inventory + purchases - Ending inventory Gross profit = Sales - Cost of…
Q: Use the following to answer the questions Net Sales $750,000 Gross profit $310,000 Beginning…
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Q: Financial information is presented below: Operating expenses $ 48000 Sales returns and allowances…
A: Net Sales = Sales revenue - Sales discounts - Sales returns and allowances
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A: Interest income is not considered as operating revenue.
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A: Gross Profit Ratio : It is one of the profitability ratios which shows the relationship between the…
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- Calculate the missing information for the purchase. Item SellingPrice(in $) SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price Book $ 8 $ 0 0 $19.44ley.com/was/ui/v2/assessment-player/index.html?launchld=aa1ecb39-8378-483d-b985-75dc59448d94#/question/6 Question 7 of 7 < Your answer is incorrect. Fill in the missing amounts. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income eTextbook and Media Splish Brothers Inc. $114,000 $ 108,000 72,360 21,600 Blossom Company 7,400 130,000 45,500 I'I 19,500Calculate the missing information for the purchase. Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price(in $) Sofa $850.00 5 $ 0 0 $
- The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000O
- K Which of the following is true of net sales revenue? OA It is calculated by adding sales discounts and sales retums and allowances to sales OB. It is calculated by deducting sales discounts and sales retums and allowances from sales OC. It is calculated by adding sales discounts to sales OD. It is calculated by subtracting cost of goods sold from sales MacBook ProPROBLEM 2Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000OFinancial information is presented below: Operating Expenses 91400 Sales Returns and 18400 Allowances Sales Discounts 12700 Sales Revenue 320900 Cost of Goods Sold 173100 The amount of net sales on the income statement would be O $ 302500. O $ 308200. O $ 320900. O $ 289800.
- Required Information [The following information applies to the questions displayed below] Vitamix reports the following information for its year ended December 31: Cash sales Sales on credit General and administrative expenses Sales returns Cost of goods sold Sales discounts Selling expenses $ 92,000 122,000 33,000 14,200 88,000 5,200 56,000 Use the above information, to compute (a) net sales and (b) gross profit. a. Net sales b. Gross profit1.Calculate the missing information for the purchase. (Round your answers to the nearest cent.) Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax(in $) TotalPurchase Price(in $) Tire $106.99 6 $ 5 $ $Using the accounts and amounts below, calculate Net Sales: Account Amount Sales Revenue $142,055 Purchase Discounts 1,886 Sales Discounts Sales Returns and Allowances 2,881 2,515 Cost of Goods Sold 40,889