Question 1 0.5 pts Calculate Operating Income $2,400 $46,000 $12,500 Rent Expense Sales Revenue Salaries Expense Gain on sale of equipment Cost of Goods Sold $6,000 $22,000 Question 2 0.5 pts Three years ago, a company purchased a delivery truck for $50,000. The company has recorded a total of $34,000 of depreciation expense over the three years of using the truck. The company sells the truck for $18,000. What is the company's gain or loss on sale of the truck? (Enter gain as a positive number or loss as a negative number.) Question 2 0.5 pts Three years ago, a gempany purchased a delivery truck for $50,000. The company has recorded a total of $34,000 of depreciation expense over the three years of using the truck. The company sells the truck for $18,000. What is the company's gain or loss on sale of the truck? (Enter gain as a positive number or loss as a negative number.) Question 3 0.5 pts Three years ago, a company purchased a delivery truck for $50,000. The company has recorded a total of $34,000 of depreciation expense over the three years of using the truck. The company sells the truck for $18,000. What is the company's investing cash flow related to the sale of the truck? (Enter inflow as a positive or outflow as a negative) Question 4 0.5 pts On May 4, 2019 Yoda Inc. purchases $18,000 of lightsabers on account with terms 2/10,n/30. Yoda pays the full amount owed for the lightsabers on May 13. How much was Yoda's payment to the supplier? Question 5 0.5 pts On May 18, 2019, Yoda Inc. sells 10 lightsabers on account for $260 each to Skywalker Corp. Yoda Inc. had purchased the lightsabers for a total of $1,200. On May 20,2019, Skywalker returns 1 lightsaber. Skywalker pays Yoda Inc for the lightsabers on May 29. Which of the following are true regarding the effect of the May 20 transaction on Yoda Inc.? Yoda's cost of goods sold decreases by $120 Yoda's cost of goods sold decreases by $260 Yoda's inventory increases by $260 Yoda's accounts receivable decreases by $120 Yoda's net sales decreases by $260 Question 6 0.5 pts On May 18, 2019. Yodatnt. sells 10 lightsabers on account for $260 each to Skywalker Corp. Yoda Inc. had purchased the lightsabers for a total of $1.200. On May 20, 2019, Skywalker returns 1 lightsaber. Skywalker pays Yoda Inc for the lightsabers on May 29. What is the amount of Skywalker's payment to Yoda on May 29? Question 7 0.5 pts Anakin's Automotive Parts has the following information related to its inventory for the month of July: Quantity 30 Date Beginning Inventory July. 8 Purchase July 16 Purchase July.25 Purchase 16 Price/Unit $16.25 $21.50 $13.70 $34.20 24 During July, Anakin sold 57 units of inventory for $41.50 each. Anakin uses the FIFO cost flow assumption for its inventory. What would Anakin report as it's Cost of Goods Sold for July? Question 8 Anakin's Automotive Parts has the following information related to its inventory for the month of July: 30 Date Beginning Inventory July. 8 Purchase July. 16 Purchase July.25 Purchase Price/Unit $16.25 $21.50 $13.70 $34.20 During July, Anakin sold 57 units of inventory for $41.50 each. Anakin uses the FIFO cost flow assumption for its inventory. What would Anakin report as it's Ending Inventory for July? Question 9 30 Anakin's Automotive Parts has the following information related to its inventory for the month of July: Date Quantity Price/Unit Beginning Inventory $16.25 July. 8 Purchase $21.50 July 16 Purchase $13.70 July, 25 Purchase $34.20 During July, Anakin sold 57 units of inventory for $41.50 each. Anakin uses the FIFO cost flow assumption for its inventory. What would Anakin report as it's Gross Pront for July Question 10 0.5 pts Calculate net sales: $74,500 Cost of goods sold Sales revenue $112,800 $23,600 Operating expenses Sales returns $4,600 $6,700 Sales discounts Inventory purchases $80,530
