{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-13T06:11:31-04:00", "answer_date": "2024-09-13 06:11:31", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10604786", "url": "\/study-help\/questions\/following-is-a-random-list-of-accounts-and-their-december-10604786", "question_creation_date_js": "2024-09-13T06:11:31-04:00", "question_creation_date": "Sep 13, 2024 06:11 AM", "meta_title": "[Solved] Following is a random list of accounts an | SolutionInn", "meta_description": "Answer of - Following is a random list of accounts and their December 31, 2019 balances for Jacob Company. Jacob Company uses a pe | SolutionInn", "meta_keywords": "random,list,accounts,december,31,2019,balances,jacob,company,periodic,inventory,system", "question_title_h1": "Following is a random list of accounts and their December 31, 2019 balances for Jacob Company. Jacob Company uses a periodic inventory system and all", "question_title": "Following is a random list of accounts and their December 31, 2019", "question_title_for_js_snippet": "Following is a random list of accounts and their December 31, 2019 balances for Jacob Company Jacob Company uses a periodic inventory system and all account balances are normal Purchases 330,000 Sales Revenue 470,000 Interest Revenue 23,000 Salary expense 45,000 Freight in 17,000 Purchase Discount 31,000 Sales Returns and allowances 40,000 Interest expense 18,000 Delivery expense 24,000 Sales Discount 27,000 Insurance expense 16,000 Purchase returns and allowances 49,000 A Jacob, Capital 35,000 Utilities expense 14,000 Amortization expense equipment 10,000 A Jacob, Withdrawals 18,000 The beginning and ending amounts for inventory are $49,000 and $65,000 respectively Calculate the following for Jacob Company showing the procedure computation on how you arrived at the answer a Net sales revenue b Net cost of purchases c Cost of goods sold d Gross Profit e Net income", "question_description": "

\"image<\/p> Following is a random list of accounts and their December 31, 2019 balances for Jacob Company. Jacob Company uses a periodic inventory system and all account balances are normal. Purchases 330,000 Sales Revenue 470,000 Interest Revenue 23,000 Salary expense 45,000 Freight in 17,000 Purchase Discount 31,000 Sales Returns and allowances 40,000 Interest expense 18,000 Delivery expense 24,000 Sales Discount 27,000 Insurance expense 16,000 Purchase returns and allowances 49,000 A. Jacob, Capital 35,000 Utilities expense 14,000 Amortization expense-equipment 10,000 A. Jacob, Withdrawals 18,000 The beginning and ending amounts for inventory are $49,000 and $65,000 respectively. Calculate the following for Jacob Company showing the procedure\/computation on how you arrived at the answer: a. Net sales revenue b. Net cost of purchases c. Cost of goods sold d. Gross Profit e. Net income", "transcribed_text": "", "related_book": { "title": "Managerial Accounting", "isbn": "978-007811100, 78111005, 978-0078111006", "edition": "14th edition", "authors": "Ray Garrison, Eric Noreen and Peter Brewer", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/260.jpg", "uri": "\/textbooks\/managerial-accounting-14th-edition-260", "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-13 06:11:31", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/industrial-organizational-psychology-understanding-the-workplace\/7-why-is-informed-consent-so-important-2006030", "description": "7. Why is informed consent so important?", "stars": 0 }, { "url": "\/if-a-company-wanted-to-know-whether-to-implement-a", "description": "If a company wanted to know whether to implement a new management training program based on how much it would improve ROI in its southwest division, would you recommend a field or lab experiment?", "stars": 3 }, { "url": "\/study-help\/questions\/following-is-a-random-list-of-accounts-and-their-december-10604786", "description": "Following is a random list of accounts and their December 31, 2019 balances for Jacob Company. Jacob Company uses a periodic inventory system and all account balances are normal. Purchases 330,000...", "stars": 3 }, { "url": "\/study-help\/questions\/use-the-following-information-for-questions-123125-during-2008-salon-6368510", "description": "Use the following information for questions 123-125. During 2008, Salon Enterprises generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $30,000, operating...", "stars": 3 }, { "url": "\/study-help\/questions\/when-would-each-approach-be-appropriate-let-nature-take-its-1000973", "description": "When would each approach be appropriate. Let nature take its course . Allowing those who will be affected by change to recognize and to adjust to the implications in their own time. Attraction...", "stars": 3 }, { "url": "\/study-help\/questions\/could-you-pls-answer-the-following-as-a-dq-many-999753", "description": "Could you pls answer the following as a DQ Many security vendors and researchers now post regular online podcasts about security. Locate and listen to at least three different podcasts concerning the...", "stars": 3 }, { "url": "\/study-help\/questions\/a-manufacturer-designs-a-cylindrical-can-with-no-top-the-999816", "description": "A manufacturer designs a cylindrical can with no top. The surface area of the can is 479 cm. The can has base radius r centimetres. a) Write a polynomial function to model the capacity, C cubic...", "stars": 3 }, { "url": "\/study-help\/questions\/when-a-company-runs-an-add-stressing-how-their-product-1002021", "description": "When a company runs an add stressing how their product is vastly better than the other available options, the marketer is trying to what?", "stars": 3 }, { "url": "\/study-help\/questions\/1-are-there-any-plugins-to-bpmn-models-inknime-explain-1005039", "description": "1. Are there any plugins to BPMN models inKNIME? Explain. 2. Examine the similarities of workflows to BPMN processes. 3. Two modeling elements\/concepts in KNIME are nodes and data. Are the...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/on-july-1-2017-vinson-corporation-acquired-all-of-the-10604785", "next": "\/study-help\/questions\/consider-list-emplemented-with-an-artylist-suppose-the-folowing-operations-10604787" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Following is a random list of accounts and their December 31, 2019", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/following-is-a-random-list-of-accounts-and-their-december-10604786" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }