Data tableRevenues at list pricesDiscounts from list pricesCost of goods soldDelivery costsOrder processing costsCost of sales visit$Wholesale CustomersWest RegionWholesaler760,000 $52,100580,00028,60012,62012,600East RegionWholesaler1,230,000 $79,5001,080,00023,43016,93010,310Retail CustomersSmile Inc.290,000 $20,300306,00016,4909,3909,300Slide CorpI290,0006,120195,00014,2207,2208,100X Axler Inc. has only two retail and two wholesale customers. Information relating to each customer for 2020 follows:(Click the icon to view the data.)RequirementCalculate customer-level operating income.Begin by calculating each customer's gross margin. Then calculate the operating income for each customer. (Use parentheses or a minus sign to enter a negative gross margin or a customer-leveloperating loss. Abbreviations used: cust = customer; oper. = operating.)WholesaleGross marginWest RegionWholesalerEast RegionWholesalerSmile Inc.RetailSlide Corp

Customer-level operating income=Gross margin-Customer level operating costs

Data table Revenues at list prices Discounts from list prices Cost of goods sold Delivery costs Order processing costs Cost of sales visit $ Wholesale Customers West Region Wholesaler 760,000 $ 52,100 580,000 28,600 12,620 12,600 East Region Wholesaler 1,230,000 $ 79,500 1,080,000 23,430 16,930 10,310 Retail Customers Smile Inc. 290,000 $ 20,300 306,000 16,490 9,390 9,300 Slide Corp I 290,000 6,120 195,000 14,220 7,220 8,100

Data table Revenues at list prices Discounts from list prices Cost of goods sold Delivery costs Order processing costs Cost of sales visit $ Wholesale Customers West Region Wholesaler 760,000 $ 52,100 580,000 28,600 12,620 12,600 East Region Wholesaler 1,230,000 $ 79,500 1,080,000 23,430 16,930 10,310 Retail Customers Smile Inc. 290,000 $ 20,300 306,000 16,490 9,390 9,300 Slide Corp I 290,000 6,120 195,000 14,220 7,220 8,100

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1.6 Calculate cost of sales Website maintenance 7900 Distribution costs 400 Fares 2400 Markets 47000 Final stock of goods 63000 Marketing expenses 10700 Initial inventory of goods 8600
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Part 1: Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts Receivable-Avery & Wiest. June 1 Sold merchandise to Avery & Wiest for $9,550; terms 2/5, n/15, FOB destination (cost of sales $6,700). 2 Purchased $4,950 of merchandise from Angolac Suppliers; terms 2/10, n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $11,500; terms 3/15, n/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,100; terms 1/5, n/15, FOB destination (cost of sales $7,750). 6 Collected the amount owing from Avery & Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale. 30 Paid Bastille Sales for the June 4 purchase. Prepare General Journal entries to record the above transactions. View transaction list Prepare General Journal entries…
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Joker Inc. has only two retail and two wholesale customers. Information relating to each customer for 2020 follows: (Click the icon to view the data.) Requirement Calculate customer-level operating income. Begin by calculating each customer's gross margin. Then calculate the operating income for each customer. (Use parentheses or a minus sign to enter a negative gross margin or a customer-level operating loss. Abbreviations used: cust = customer; oper. = operating.) Gross margin Customer-level operating income (loss) Wholesale West Region Wholesaler East Region Wholesaler Blake Inc. Retail Robin Corp
Part 1: Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts Receivable-Avery & Wiest. June 1 Sold merchandise to Avery & Wiest for $9,450; terms 2/5, n/15, FOB destination (cost of sales $6,600). 2 Purchased $4,850 of merchandise from Angolac Suppliers; terms 2/10, n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $11,300; terms 2/15, n/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $10,900; terms 3/5, n/15, FOB destination (cost of sales $7,650). 6 Collected the amount owing from Avery & Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale.. 30 Paid Bastille Sales for the June 4 purchase. Prepare General Journal entries to record the above transactions.