Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following selected accounts are taken from the ledger of XYX Merchandising on June 30, 2017: Sales Sales discount Gross profit Operating expenses Merchandise inventory, Jan. 1, 2017, P550,000 5% P209,000 P150,000 P75,000 Merchandise inventory, June 30, 2017, P50,000 Accounts receivable, Jan. 1, Accounts receivable, June 30, The cost of sales ratio or cost ratio is: a. 62% b. Answer not given. c. 40% d. 60% P70,000 | P50,000

The following selected accounts are taken from the ledger of XYX Merchandising on June 30, 2017: Sales Sales discount Gross profit Operating expenses Merchandise inventory, Jan. 1, 2017, P550,000 5% P209,000 P150,000 P75,000 Merchandise inventory, June 30, 2017, P50,000 Accounts receivable, Jan. 1, Accounts receivable, June 30, The cost of sales ratio or cost ratio is: a. 62% b. Answer not given. c. 40% d. 60% P70,000 | P50,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

hello tutor please help me

The following selected accounts are taken from the ledger of XYX Merchandising on June 30, 2017: Sales Sales discount Gross profit Operating expenses Merchandise inventory, Jan. 1, 2017, P550,000 5% P209,000 P150,000 P75,000 Merchandise inventory, June 30, 2017, P50,000 Accounts receivable, Jan. 1, Accounts receivable, June 30, The cost of sales ratio or cost ratio is: a. 62% b. Answer not given. c. 40% d. 60% P70,000 | P50,000
Transcribed Image Text:The following selected accounts are taken from the ledger of XYX Merchandising on June 30, 2017: Sales Sales discount Gross profit Operating expenses Merchandise inventory, Jan. 1, 2017, P550,000 5% P209,000 P150,000 P75,000 Merchandise inventory, June 30, 2017, P50,000 Accounts receivable, Jan. 1, Accounts receivable, June 30, The cost of sales ratio or cost ratio is: a. 62% b. Answer not given. c. 40% d. 60% P70,000 | P50,000
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS