On a statement of owner's equity, beginning capital is $36,000, Net Income for the year is $14,000 and Drawing for the year is $6,600, the ending capital amount would be

Multiple Choice

Top of Form

$28,600

$43,400

$56,600

$36,000

Bottom of Form

Vito Company reported net sales of $100,000, cost of goods sold of $40,000, gross profit of $60,000, and net income of $20,000. What is Vito Company's gross profit percentage?

Multiple Choice

20%

50%

40%

60%

During the week ended January 31, Wayne Rodgers earned gross pay of $920. The following information regarding payroll taxes is available:

Social Security tax, 6.2%

Medicare tax, 1.45%

SUTA tax, 5.4%

FUTA tax, 0.8%

Federal income tax withheld, $100

What is Wayne Rodgers' net pay for the week ended January 31, rounded to the nearest dollar?

Multiple Choice

$657

$750

$693

$712

For the current fiscal year, Purchases were $190,000, Purchase Returns and Allowances were $3,400 and Freight In was $13,000. If the beginning merchandise inventory was $130,000 and the ending merchandise inventory was $79,000, the Cost of Goods Sold is:

Multiple Choice

Top of Form

$250,600

$122,600

$257,400

$224,600

Bottom of Form