Question 14 4.75 pts The following account information is from Great Clips 12/31/20xx Partial Adjusted Trial Balance. What is the dollar ($) amount of Great Clips gross profit? Account Name Normal Account Balance Cash Inventory Deferred Revenue $20,000 $10,366 $20,000 $33,000 $118.000 Retained Earnings Sales Revenue Rent Expense Cost of Goods Sold Income Tax Expense $25,439 $67.769 $11,366 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Question 15 4.75 pts Question 15 4.75 pts Pfizer purchased a patent for a Covid-19 vaccine on October 1 for $6,000,000. The remaining legal life of the patent is 10 years but Pfizer only expects to benefit from the patent for 5 years. No residual value is expected. Assuming the straight-line method is used, what is the amortization expense, if any, for the current accounting period (year) ending on 12/31? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number - you can round up if needed. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 D Question 18 4.75 pts Given the following data, what is the cost of goods sold as determined under the LIFO method if Home Depot sold 300 air freshener systems for $28 per unit? Information Number of Units Unit Cost 150 $11 Beginning Inventory on 1/1 Inventory Purchases on 1/5 250 $17 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Question 19 4.75 pts Using the % of aging-of-accounts receivable to estimate uncollectible accounts, Valley Crest Landscape Maintenance estimates a target balance of $10,626 of its total accounts receivable that will be uncollectible. Prior to adjustment, the Allowance for Uncollectible accounts has a credit balance of $3,000. When Valley Crest Landscape Maintenance records the journal entry to make this adjustment, what is the amount of the debit for bad debt expense? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24.123. you would only input: 24123
