CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN: 9780357110362
Author: Murphy
Publisher: CENGAGE L
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Hi expert please give me answer general accounting question
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Financial information is presented below:
Operating expenses
$59,000
Sales returns and allowances 2,000
Sales discounts
9,000
Sales revenue
194,000
Cost of goods sold
102,000
Gross Profit would be:
a. $81,000.
b. $92,000.
c. $90,000.
d. $94,000.
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- need correct general account ans.arrow_forwardProvide answer to financial question belowarrow_forwardZachary Manufacturing Company began operations on January 1. During the year, it started and completed 1,610 units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs: Raw materials purchased and used Wages of production workers Salaries of administrative and sales personnel Depreciation on manufacturing equipment Depreciation on administrative equipment $ 3,210 $ 3,510 $1,980 $ 5,033 $1,815 Zachary sold 1,180 units of product. Required: 1. Determine the total product cost for the year. 2. Determine the total cost of the ending inventory. 3. Determine the total of cost of goods sold.arrow_forward
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