During May, Jimmy spent $700 to buy 20 products and sold 4 of them for $60 each. Jimmy should record as an expense for May. A. $1,200 B. $240 C. $700 D. $140
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- Sadia sells car first aid kits by mail order. The cost to her of each kit purchased from the manufacturer is £12.50. Her selling price per kit is £18.25. At the beginning of August 20XI she has 180 kits in inventory. She sells 250 kits during August 20X1 and has 153 left in inventory at the end of the month. How many first aid kits has Sadia purchased in August 20X1? A. 277 B. 403 C. 250 D. 223% of the second set of expenses. Complete the sentence: On an annual basis the first set of expenses is Elena spends $5 per day on a coffee at the neighborhood cafe and $350 per month on food. Round to the nearest whole number as needed. OA. 6% B. 10% OC. 521% D. 43%Betsy's Gift Baskets sells gift baskets, on average, for $125; each gift basket costs, on average, $60. Betsy pays salaries each month of $1,300 and her store rent is $1,000 per month. She also pays sales commissions of 5% of the sales price. In May, 140 gift baskets were sold. Required: a. Prepare a traditional income statement for the month of May. b. Prepare a contributio
- Please help meLawrence owns a small candy store that sells one type of candy. His beginning inventory of candy was made up of 10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases of candy during the year: March 1 10,000 boxes at $1.60 $16,000 August 15 20,000 boxes at $1.70 34,000 November 20 10,000 boxes at $1.80 18,000 At the end of the year, Lawrence's inventory consisted of 15,000 boxes of candy. a. Calculate Lawrence's ending inventory and cost of goods sold using the FIFO inventory valuation method. Ending inventory $ Cost of goods sold $ b. Calculate Lawrence's ending inventory and cost of goods sold using the LIFO inventory valuation method. Ending inventory $ Cost of goods sold $ How do you do this?6. Darlene Jaworski purchases an $84.00 calculator, a gold chain for $42.50, and a book for $13.80. The sales tax rate is 5.5%. What is the sales tax? 7. Clinton Horvath purchases a $147.50 tool set and a tool box for $27.55. The sales X rate is ax on Clinton's purchases? 8 Isabel Marau cight snark nlugn ot
- Do fast answer of this general accounting question7. Clinton Horvath purchases a $147.50 tool set and a tool box for $27.55. The sales tax rate is 6%. What is the sales tax on Clinton's purchases? 8. Isabel Merquez purchases eight snark plugs at $1.6 fo ns of oit at $1. 49 3.79. The sales tax rate is 7%. per o 20 and a. wwhat is the total selling price?Sarah Jones earns $555 per week selling life insurance for Farmer's Insurance plus 6% of sales over $5,750. Sarah's sales this month (four weeks) are $24,000. How much does Sarah earn this month? (Round your answer to the nearest cent.) Amount earned
- Can you please give answer for accounting questionMike purchases a bicycle costing $152.70. State taxes are 4% and local sales taxes are 2%. The store charges $20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.)_____Owens sells computers. He purchases the computers for $460 each and incurs $6,000 in fixed operating expenses each month. The average cost per unit is a. $520 if owens make and sells 100 units of product b. $580 if owens make and sells 50 units of product c. $700 if owens make and sells 25 units of product d. all the answers are correct
