III Matching TypeIV VARIOUSINSTRUCTION: Indicate the answers at the ANSWER SHEET ABOVE.Net SalesMae Kuh Tho Corporation, a manufacturer of shampoo, gave you the following partial financialinformation from the adjusted trial balance for the year ending December 31, 2020:Rent incomePurchase discountsSalesPurchases - Materials purchasesPurchase returns and allowancesSales discountFreight inMaterial inventory beg.Freight outSales return and allowances1) How much is the net sales? PSelling Expense and Administrative ExpenseMae Amoi Manufacturing Corporation, a manufacturer of deodorant for Dilawans, gave you the followingpartial financial information from the adjusted trial balance for the year ending December 31, 2020:Advertising and promotion25,000Depreciation expense - store equipmentPrepaid office rent expenseFreight In50,000 OI10,000 COSP 2,500,000 NS1,000,000 COS100,000COS50,000 NS5,000 COS100,000 COS20,000 SE150,000 NSRent Expense - officeOffice supplies expenseOffice salariesTaxes and licensesAccumulated depreciation - Office equipmentFactory taxesDepreciation Expense - machineriesAccrued office salariesDepreciation Expense - Delivery equipmentIndirect laborFreight OutFactory supplies expenseSales salariesDepreciation expense - O. Furn. & EquipmentOffice light, water and telephoneBad debts expense12,00010,00010,00060,00015,00050,00010,00010,00012,0008,0001,0005,00020,00020,00020,00025,00010,00029,0002,00030,000Interest expense2) How much is the total selling or distribution expense?3) How much is the total administrative expense ?PP5

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IV VARIOUS INSTRUCTION: Indicate the answers at the ANSWER SHEET ABOVE. Net Sales Mae Kuh Tho Corporation, a manufacturer of shampoo, gave you the following partial financial information from the adjusted trial balance for the year ending December 31, 2020: Rent income Purchase discounts Sales Purchases - Materials purchases Purchase returns and allowances Sales discount Freight in Material inventory beg. Freight out Sales return and allowances 1) How much is the net sales? P 50,000 OI 10,000 COS P 2,500,000 NS 1,000,000 COS 100,000COS 50,000 NS 5,000 COS 100,000 COS 20,000 SE 150,000 NS

IV VARIOUS INSTRUCTION: Indicate the answers at the ANSWER SHEET ABOVE. Net Sales Mae Kuh Tho Corporation, a manufacturer of shampoo, gave you the following partial financial information from the adjusted trial balance for the year ending December 31, 2020: Rent income Purchase discounts Sales Purchases - Materials purchases Purchase returns and allowances Sales discount Freight in Material inventory beg. Freight out Sales return and allowances 1) How much is the net sales? P 50,000 OI 10,000 COS P 2,500,000 NS 1,000,000 COS 100,000COS 50,000 NS 5,000 COS 100,000 COS 20,000 SE 150,000 NS

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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BUS 038 : Business Computatns5. You buy goods at a list price of $820. If you receive a trade discount of 25% and terms are “2/15, n/30,” what amount must you pay if you pay within the discount period?
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Dr. Receivables Cr. Purchases Dr. Sales Returns Cr. Receivables Dr. Sales Cr. Receivables Dr. Receivables Cr. Sales Modern Enterprises Co purchases $200,000 of merchandise with credit terms of 3/10, n60 on March, 4th, 2020 and shipping terms FOB Desti
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Feb 1. Analisa purchase merchandise with an invoice price of 280,000 and 3/10 , n/30 Feb 3. Analisa paid 8000 transportation cost on the purchased goods FOB shipping point Feb 10 analisa paid for merchandise What was analizas total cost lf the lurchased merchandise?
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Question 28 Use the following information to calculate figures in the table below. Manufacturer: S 60 net selling price. Marks up (Wholesaler: $ 20, Retailer: $ 40) Applicable VAT: 30% Calculation Manufacturer Wholesaler Retailer Customer Net VAT paid by the Manufacturer is: Net cost of sales Mark up Net selling price S 60 S 80 $ 120 VAT chargeable (309%) Gross selling price Accounting for VAT Due to Customs and Excise Recoverable from Customs and Excise subtract) Net VAT Paid by
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