Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 26, 2024

Sales on account amounted to $80,000. Sales returns were $2,000 and sales discounts were $1.000. Cost of goods sold amounted to $45.000. Based on this

Sales on account amounted to $80,000. Sales returns were $2,000 and sales discounts were $1.000. Cost of goods sold amounted to $45.000. Based on this information the amount of gross margin was $33,000 $48.000. $42,000 $32,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mind Mapping Improve Memory Concentration Communication Organization Creativity And Time Management

Authors: Kam Knight

1st Edition

1544840705, 978-1544840703

More Books

Students also viewed these Accounting questions

Question

★★★★★

Two patterns of packing different types of spheres are shown here. For each structure (a) Draw the two-dimensional unit cell, (b) Determine the angle between the lattice vectors, g, and whether the...

Answered: 1 week ago

Question

★★★★★

LO2 Identify the role of public relations in the development of marketing communications strategies. (pp. 350353)

Answered: 1 week ago

Question

★★★★★

Fragile X syndrome is an inherited, X-linked disorder that adversely affects boys more than girls. It is characterized by mild to moderate ID, characteristic appearance, strengths in simultaneous...

Answered: 1 week ago

Question

★★★★★

On May 1, 2012, Noah Unlimited issues 9%, 20-year bonds payable with a maturity value of $200,000. The bonds sell at 103 and pay interest on May 1 and November 1. Noah Unlimited amortizes bond...

Answered: 1 week ago

Question

★★★★★

Nolan's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements: Click...

Answered: 1 week ago

Question

★★★★★

42. If a Corporation expects to operate at a profit in its financial year. Which of the following statements about its budgeted income statement is true? (1 Point) Net income is expected to be...

Answered: 1 week ago

Question

★★★★★

Problem 6 What is the total cost of food issue requisition, given the following? Item Begin Inventory Unit Cost No. Units Issued Total Cost $39.95 1-5/6 Tomato Paste cs-6/#10 Canned Peaches cs-6/#10...

Answered: 1 week ago

Question

★★★★★

CL I P COL Astro- L(1-cas0) Lsing *A=2 L sin(0/2)

Answered: 1 week ago

Question

★★★★★

1) The standard solution of today's search engines is based on certain indexing techniques. How would knowledge have to be structured according to the ideas of Vanevar Bush or Ted Nelson if their...

Answered: 1 week ago

Question

★★★★★

do it fast The following cost data for the current year relate to Puzzle Puppies Pty Ltd, a manufacturer of jigsaw puzzles: Wages for assembly line staff Material cost of cardboard Wages of factory...

Answered: 1 week ago

Question

★★★★★

Suppose that the amount of taxes in the US is equal to $1800. Suppose that the government expenditures is equal to $1800. In addition, you know that the current level of debt in the US is equal to...

Answered: 1 week ago

Question

★★★★★

Explain what performance management behaviors the Ball program included.

Answered: 1 week ago

Question

★★★★★

Describe the challenges incurred in the training and development process at Witness.org.

Answered: 1 week ago

Question

★★★★★

Specifically, what should the Carters cover in their new employee orientation program and how should they convey this information?

Answered: 1 week ago

Previous Question Next Question