Make the single step statement of the following. Sales 417,500 Cost of goods sold 210,000 Salaries expense 38,000 Depreciation expense- building 40,000 Advertising expense 12,300 Office supplies Expense 3,500 Gains on disposal of store Equipment 3,000 Interest expense 1,000
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Make the single step statement of the following.
Sales 417,500
Cost of goods sold 210,000
Salaries expense 38,000
Advertising expense 12,300
Office supplies Expense 3,500
Gains on disposal of store Equipment 3,000
Interest expense 1,000
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Direction: Using the following account titles below: Sales – 20,000 Interest Expense - 660 Cost of Goods Sold – 10,000 Rent Expense 2,000 Depreciation Expense – 1,000 Utilities Expense – 1,000 Selling Expenses – 2,000 Compute for the following: Gross Income Operating Income Net incomeMake the single step statement of the followir Sales 417,500 Cost of goods sold 210,000 Salaries expense 38,000 Depreciation expense- building 40,000 Advertising expense 12,300 Office supplies Expense 3,500 Gains on disposal of store Equipment 3,000 Interest expense 1,000
- Use the Financial information is presented below to determine the Gross Profit: Operating expenses $ 40,000 Sales revenue 200,000 Cost of goods sold 150,000 a. $160,000.b. $ 40,000.c. $ 50,000.d. $ 10,000.Given the following information regarding to a recent period's operations: Sales - P? Beginning finished goods inventory - P12,000 Cost of goods manufactured - P36,000 Ending finished goods inventory - P6,000 Cost of goods sold - P? Gross margin - 40% of Sales Administrative and selling expenses_P10,000 Net operating income - P? Determine the following: • cost of goods sold • cost of goods available for sale • net operating income • gross margin • salesConor Company provided the following data for the current year: Sales P 10,000,000 Cost of goods sold 5,300,000 Operating expenses 3,800,000 December 31 January 1 Prepaid operating expenses P 1,000,000 P 700,000 Accounts payable 1,350,000 1,200,000 Inventory 2,500,000 2,100,000 Accounts receivable 1,400,000 1,375,000 Required: What amount should be reported as purchases under the cash basis of…
- Financial information is presented below: Operating Expenses $ 44,000 Sales Returns and Allowances 13,000 Sales Discounts 6,000 Sales 170,000 Cost of Goods Sold 77,000. Gross profit would be?Calculate the gross profit for Jefferson Company based on the following: Sales $764,000 Selling expenses 42,500 Cost of goods sold 538,000 a.$183,500 b.$721,500 c.$495,500 d.$226,000Sales- 750,000 Sales returns and allowances- 15,000 Sales discounts- 10,000 Purchases- 170,000 Purcase returns and allowances- 20,000 Transportation in - 30,000 Selling expenses- 75,000 General and administrative expenses- 275,000 1. What is the cost of goods sold? 2. What is the net income? Please show solutions.
- Conor Company provided the following data for the current year: Sales P 10,000,000 Cost of goods sold 5,300,000 Operating expenses 3,800,000 December 31 January 1 Prepaid operating expenses P 1,000,000 P 700,000 Accounts payable 1,350,000 1,200,000 Inventory 2,500,000 2,100,000 Accounts receivable 1,400,000 1,375,000 What amount should be reported as purchases under the cash basis of accounting?Conor Company provided the following data for the current year: Sales P 10,000,000 Cost of goods sold 5,300,000 Operating expenses 3,800,000 December 31 January 1 Prepaid operating expenses P 1,000,000 P 700,000 Accounts payable 1,350,000 1,200,000 Inventory 2,500,000 2,100,000 Accounts receivable 1,400,000 1,375,000 What amount should be reported as purchases under the cash basis of accounting? Conor…A company reported the following: Cost of Goods Sold $202,200 General, Selling, and Administrative Expenses 53,020 Income Tax Expense 3,820 Inventory 13,500 Net Income 24,980 Sales Revenue 289,500 Sales Discounts 2,940 Sales Returns & Allowances 2,540 What is the amount of income before income taxes? Multiple Choice $103,300 $110,650 $28,800 $135,000