Operating expenses$ 59000Sales returns and allowances3000Sales discounts5000Sales revenue198000Cost of goods sold87000The gross profit rate would be 0.46.0.56.0.54.0.52.

Net sales = Sales revenue - Sales discounts - Sales returns and allowances Net sales = 198000 - 5000…

Answered: Operating expenses $ 59000 Sales…

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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Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales S687,000 $922,500 COGS ? 478,500 654,000 Gross profit 324.100 456.000| Operating expense 299,500 354,200 Operating income ? ? 94.500 30. $ sold For case 1, determine cost of goods 31. $ For case 1, determine operating income (include “-“ if needed) 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income “_“ if needed) 34. $ For case 3, determine net sales 35. $ For case 3, determine operating expense
1. Calculate the missing information for the purchase. Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price(in $) Sofa $350.00 5 $ 0 0 $
Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.
Financial information is presented below: Operating expenses $ 50000 Sales returns and allowances 3000 Sales discounts 5000 Sales revenue 184000 Cost of goods sold 98000 Gross Profit would be $78000. $89000. $83000. $86000.
nku.3
Net sales OR 165000 Cost of the goods sold OR 109000 Details Debit Credit General expenses 11700 Rent 5100 Salaries Payable 9300 Depreciation 1560 Account Payable 3575 Other income 2500 Calculate net profit Select one: O a. RO 31140 O b. RO 34715 O c. RO 40140 O d. RO 27265
A9
Need answer of this Question with explanation
K A store manager paid $180 for an item and set the selling price at $252.00. What was the percent markup? OA. 38% B. 28% 39% 40% O C. D.
Refer to the table above, what was the average price of all the items that were sold?
Calculate the net price of merchandise listing for $5,900 less a trade discount rate of 45%. O $2,065 O $2,655 O $3,760 O $3,245
Financial information is presented below: Operating expenses $ 29000 Sales returns and 9000 allowances Sales discounts 3000 Sales revenue 154000 Cost of goods sold 95000 Gross profit would be $56000. $59000. $47000. $50000.

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Operating expenses	$ 59000
Sales returns and allowances	3000
Sales discounts	5000
Sales revenue	198000
Cost of goods sold	87000

Operating expenses $ 59000 Sales returns and allowances 3000 Sales discounts 5000 Sales revenue 198000 Cost of goods sold 87000 The gross profit rate would be 0.46. 0.56. 0.54. 0.52.