User Account

All Pages

What is the amount of Gross Profit

Assignment Help Accounting Basics
Reference no: EM133040508

Question - Given the information below, what is the amount of Gross Profit?

Sales Revenue RM320,000

Accounts Receivable RM50,000

Closing Inventory RM100,000

Cost of Goods Sold RM250,000

Sales Returns RM20,000

a. RM50,000.

b. RM70,000.

c. RM250,000.

d. RM220,000.

Reference no: EM133040508

Questions Cloud

Types of network management events : There are two types of network management events: incidents and events.
Describe the disadvantages for an organization : The "built-to-change" model has been promoted as desirable for most, if not all, organizations. Describe the disadvantages for an organization.
Explain a proposed research project : Research Proposal Assessment - Explain a proposed research project. It is Important to understand that this is a proposed research project
Define comprehensive income : Question: Define comprehensive income and describe the statement of stockholders' equity. Explain the complete solution of this problem.
What is the amount of Gross Profit : Given the information below - Accounts Receivable RM50,000 and Cost of Goods Sold RM250,000, what is the amount of Gross Profit
Discuss the importance of prioritizing it infrastructure : Discuss the importance of prioritizing IT infrastructure for business.
Description and analysis of the new target market : Submit a briefing paper that uses the Market Participation approach described in Figure 5.1 of Chapter 5 of the course text to assess the attractiveness of the
Capabilities of organisation and marketing objectives : Identify gaps between existing capabilities of the organisation and its marketing objectives and then describe strategies which will increase resources
Determine the accounts receivable turnover : The Accounts Receivable balances at the beginning and end of the year were RM600,000 and RM760,000, respectively. Determine the accounts receivable turnover

Reviews

Write a Review

Accounting Basics Questions & Answers

  What business form would suit the needs of gerard

The task is assigned to you. What business form would suit the needs of Gerard? Why? What are the advantages of this business form

  What depreciation would ABC record for the year

ABC revised the remaining useful life to four years with no residual value. What depreciation would ABC record for the year 2020 on this equipment

  Prepare journal entries to record the purchase

The building has an estimated life of 40 years and an estimated residual value of $5,000. Prepare journal entries to record the purchase

  Calculate the net present value

Northern Star Company sets a hurdle rate of 14% per annum for evaluating investment proposals. Calculate Net Present Value (NPV) for the 3 investment proposals

  Sadowski video center accumulates cost and market

Sadowski Video Center accumulates the following cost and market data at December

  Recorded depreciation expense on the plant assets

Recorded depreciation expense on the plant assets, Recorded and paid interest expense.

  What are the effect of professionalism on a career

What strategies can be employed for professional growth and advancement. What are The effect of professionalism on a career.

  Application of the exclusion clauses

Tommy is a successful property developer who regularly attends Jay's Dry-Cleaning Service to have his expensive suits dry-cleaned.

  Prepare all journal entries inclusive from January

Prepare all journal entries inclusive from January 1, 2019 to December 31, 2020, assuming that: the shares acquired are only 1% of the outstanding stock

  Compute the amount of cash and cash equivalents

Compute the amount of cash and cash equivalents to be reported on Concord Co.'s balance sheet at December 31, 2020

  Find what is correct carrying value of the loans receivable

As of December 31, 2020, the prevailing rate of interest. What is the correct carrying value of the loans receivable as of December 31, 2022?

  What factors contribute to inventory shrinkage

Does a company that uses the perpetual inventory system have to still do inventory physical counts at the end of the fiscal period? Why?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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