Summit Corporation has cash sales of $90,000, credit sales of $410,000, sales returns and allowances of $16,500, and sales discounts of $8,300. Its net sales equal: a. $500,000 b. $483,500 c. $475,200 d. $465,200
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- Newark Company has provided the following information: • Cash sales, $450,000 Credit sales, $1,350,000. Selling and administrative expenses, $330,000 Sales returns and allowances, $90,000 Gross profit, $1,360,000 Increase in accounts receivable, $55,000 Bad debt expense, $33,000 Sales discounts, $43,000 Net income, $1,030,000 How much are Newark's net sales? $1,800,000. $1,634,000. $1,667,000. $1,745,000.MCQSafety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200
- Assume that the Bubba Co. has $1,000,000 in Sales ($600,000 on account; $400,000 for cash), Cost of merchandise sold of $100,000 and Operating expenses of $300,000. What is the gross profit?MCQJasper Inc. has the following financial information: • Annual Sales: $5,400,000 . Cost of Goods Sold: $2,100,000 •. Average Inventory: $1,260,000 . Average Accounts Receivable: $810,000 All sales are on credit. What is the firm's operating cycle?
- Please given net sales equal1. Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and Allowances, $73,000; Cost of Goods Sold, $580,000; and Selling, General & Administrative Expenses, $120,000. How much was Quartz's net sales? $222,000 $802,000 $248,000 $102,000 $875,000You are given the following information for Smashville, Incorporated. $ 229,000 Cost of goods sold: Investment income: Net sales: $ 2,500 Operating expense: Interest expense: Dividends: Tax rate: Current liabilities: Cash: Long-tere debt: Other assets: Fixed assets: Other liabilities: Investments: Operating assets: $ 374,000 $82,000 $7,400 $9,000 Book value per share Eamings per share Cash flow per share 21X $ 18,000 $ 21,000 $ 23,000 $ 41,000 $ 166,000 $ 5,000 $ 45,000 $ 37,000 During the year, Smashville, Incorporated, had 17,000 shares of stock outstanding and depreciation expense of $15,000, Calculate the book value per share, earnings per share, and cash flow per share. Note: Do not round intermediate calculations. Round your answers to 2 decimal places.