Prepare in income statement for computer game retailer

Assignment Help Accounting Basics
Reference no: EM13528504

Last month Cyber Games, a computer game retailer, had total sales of $1,450,000, selling expenses of $210,000, and administrative expenses of $180,000. The company had beginning merchandise inventory of $240,000, purchased additional merchandise inventory for $950,000, and had ending merchandise inventory of $170,000.

Required:

Prepare in income statement for the company for the month.

Reference no: EM13528504

Questions Cloud

What is the worst-case cost of finding records : What is the worst-case cost of finding records
Prepare an income statement for the company for the month : The company had beginning merchandise inventory of $140,000, purchased additional merchandise inventory for $2,550,000, and had ending merchandise inventory of $180,000.
Explain half-reaction in acidic solution : Which of the following shows the fully balanced version of the following half-reaction in acidic solution. H2S(aq) → S(s)
Find what is the temperature at the midpoint : A cylindrical copper rod and an iron rod with exactly the same dimensions are welded together end to end. What is the temperature at the midpoint where the rods are joined together
Prepare in income statement for computer game retailer : Prepare in income statement for the company for the month - computer game retailer,
Calculate the speed of the mailbag : A small mailbag is released from a helicopter that is descending steadily at 1.58 m/s. After 4.00 s, what is the speed of the mailbag
Explain the combustion of c2h6 releases 259 kj of heat : At constant pressure, the combustion of C2H6 releases 259 kJ of heat. Find delta H for the rxn: 2 C2H6 (g) + 7O2 (g) -> 4CO2 (g) + 6H20(l)
Define what is the ph of the mixture of weak acids : The following question refers to a solution that contains 1.79 M hydrofluric acid, HF (Ka = 7.2 x 10^-2) and 3.00 M hydrocyanic acid, HCN (Ka = 6.2 x 10^-10). What is the pH of this mixture of weak acids
Calculate the cost of goods sold for last year : Jasper Company provided the information for last year - Calculate the cost of goods sold for last year

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journal entries for recording pension expense

Prepare the journal entries to record the pension expense and funding for the year.

  Journal entries to the stockholders equity accounts

Post the journal entries to the stockholders' equity accounts. (Use J1 as the posting reference.) Add accounts for Retained Earnings, Treasury Stock and Paid-In-Capital from Treasury Stock (you may use t-accounts if you wish.)

  Operating part of the cash statement

If the ending balance in Accounts Receivable amounted to $400, and uncollectible accounts of $200 were written off, the amount of cash inflow from customers that would appear in the operating section of the cash statement would be:

  Develop an entire facility for additional training scenario

Angel is looking to expand her current business, Sports Nation. She currently has been providing training at her basketball court, but wants to seize a rare opportunity to purchase adjacent land so that she can develop an entire facility for a..

  Computing the cost of direct labor

Brick Company's direct labor is 30% of it's conversion cost. If the direct materials cost last week was $52,500 and the manufacturing overhead cost was $21,000, compute the cost of direct labor for the week.

  The cash account for interactive systems at february 28

the cash account for interactive systems at february 28 2010 indicated a balance of 7635. the bank statement indicated

  Based on the data presented above what is the number of

balance sheet and income statement data indicate the following based on the data presented above what is the number

  How are equivalent units of production, unit costs

How are equivalent units of production, unit costs, and inventory values determined using the standard costing method of process costing?

  Which of the following is an advantage of corporations

which of the following is an advantage of corporations relative to partnerships and sole proprietorships?reduced legal

  New lithographic equipment acquired at a cost of 800000 at

new lithographic equipment acquired at a cost of 800000 at the beginning of a fiscal year has an estimated useful life

  Weighted-average method of accounting

Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.

  Contribution margin ratio

Gerber Company is planning to sell 200,000 units for $2.00 a unit and will just break even at this level of sales. The contribution margin ratio is 25%. What are the company's fixed expenses?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd