Sold 64400 of merchandise subject sales tax 4%
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Sold 64400 of merchandise subject sales tax 4%
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- K110.solve The Arc 95-9876556 Income Statement For the Year Ended December 31, 2021 Revenue: Gross Sales $144,000.00 Less: Sales Returns and Allowances - Net Sales $144,000.00 Cost of Goods Sold: Beginning Inventory $10,500.00 Add: Purchases 62,200.00 $72,700.00 Less: Ending Inventory 10,100.00 Cost of Goods Sold 62,600.00 Gross Profit (Loss) $81,400.00 Expenses: Dues and Subscriptions - Estimated Federal Tax Payments 4,000.00 Estimated State Tax Payments 3,900.00 Insurance 3,950.00 Meals and Entertainment 1,500.00 Miscellaneous - Payroll Taxes 3,800.00 Professional Fees 1,700.00 Rent 8,400.00 Travel 1,250.00 Utilities 1,300.00 Vehicle Expenses - Wages 25,000.00 Total Expenses 54,800.00 Net Operating Income $26,600.00 How to calculate capital gain step by step answerEnrichment Activity 4-1. Missing Elements Net Sales Gross Sales P Less: Sales Returns & Allowances P 54,000 Sales Discounts 19,200 Net Sales Less:Cost of Sales Inventory, 1/1/21 P. 225,000 Add: Net Purchases Purchases P 890,200 Less: Purchases Returns & Allow. P 31,000 12,200 Purchase Discounts Add: Freight In 12,000 Net Purchases 859,000 Goods Available for Sales P 1,084,000 Less: Inventory, 12/31/21 Cost of Sales Gross Profit Less: Operating Expenses Distribution Expenses 138,480 Administrative Expenses Total Expense (258,780) 125,220 Net Income Required: Insert the missing figures in the income statement above. Note that Net Income is 10% of Gross Sales.
- Company X (A) S 105,200 Sales revenue Beginning inventory Net purchases Ending inventory Cost of goods sold Gross profit 350,600 104,400 (B) 190,600BLOCK D/2018/1 In t1, you purchase goods on target in the amount of € 9 thousand (net). Furthermore, transport costs of € 500 (net) to be paid to an external service provider for the purchase of the goods are incurred (incidental acquisition costs); payment is also made on destination. Your col- lege posts the goods receipt as follows: purchase of goods € 9,000 and amounts of € 1,710 intrade payables € 10,710 as well as Other operating expenses for trade payables €500. The goods are to be sold in t2. It is foreseeable that you will be able to sell the goods witha high profit margin. Do the postings of the colleague lead to an accrual determination of success? If further bookings or corrections are required in t1, make them and justify your action with reference to the possible bookings. relevant legal regulations!Sales tax transactions Journalizing injuries to record the following selected transactions A. Sold 3000 of merchandise on account, subject to a sales tax of 7%. The cost of merchandise is sold was $1,770. For a compound transaction, if an amount box does not require an entry, leave it like ______ ______ ______ ______ ______ ______ B. Paid $49,170 to state sales tax department for taxes collected. _____ _____
- Show Journal entries 3/1/22 Purchased $10,000 merchandise on account. Terms were 2/10, n/30, FOB Shipping Point. Sales taxes were 6% not included in the price. The shipping cost was $100. 3/3/22 Sold $20,000 merchandise to WG Company. Credit terms were 2/10, n/30, FOB Destination. The cost of goods sold was $8,000. Sales tax was 7% not included in the price. Paid $100 to UPS to ship the merchandise to WG Company 3/6/22 Bought back 500 shares of its own common stock at $14 per share from an unsatisfied stockholder 3/10 Collected from WG Company for the above sales.20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?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?
- Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes Taxes (35%) Income after taxes. LANCASTER CORPORATION a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 259,000 209,000 $ 50,000 24,500 $ 25,500 19,000 $ 6,500 2,275 $ 4,225Calculate the missing information for the following purchases. Sales Tax Excise Sales Excise Tax Rate Rate Tax Tax 5% Item) Selling Price Sofa $750.00 $109.99 6% A/ A/ A/ Please enter $15.12 for total3 0% $0.00 A/ Book 0% $0.00 5% Total Purchase Price A/ A/ 8% Tire A $15.12
