What is the amount of gross profit

Assignment Help Accounting Basics
Reference no: EM133151611

Question - Using the following information, what is the amount of gross profit?

Purchases $36,000

Merchandise inventory, September 1 5,900

Selling expense 1,750

Merchandise inventory, September 30 6,500

Sales 88,000

Interest expense 1,240

Administrative expense 1,210

Rent revenue 2,200

Reference no: EM133151611

Questions Cloud

Determine the ending inventory and cost of goods sold : Determine the ending inventory and cost of goods sold for Noor Company under the following cost flow assumptions: a. FIFO b. LIFO c. Average cost
Difference between primary and secondary customers : 1. Describe the difference between primary and secondary customers?
Improve productivity in department or division : Identify at least five activities that can be done to improve productivity in the department or division where you work.
Influence strategic planning for tesla inc : What might be in the some external, general, or industry environment that would influence strategic planning for Tesla Inc.?
What is the amount of gross profit : Using the following information - Merchandise inventory, September 1 5,900 and Administrative expense 1,210, what is the amount of gross profit
Modern business environment : How is data analytics different from statistics? Explain how businesses use analytics to convert raw operational data into actionable information.
Outsourcing-handles for suitcases and other luggage : Identify the costs that are relevant in this outsourcing decision. What qualitative factors should be taken into account in making this decision?
Prepare harbour view hotel bank reconciliation statement : Bank statement balance on 31st December 20X1 is $34,290 credit. Prepare Harbour View hotel's 31st December 20X1 bank reconciliation statement
Variable costing and absorption costing income statements : Explain the difference between variable costing and absorption costing income statements.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What would the amount of total unemployment taxes

The current FUTA tax rate is .6% and the SUTA tax rate is 5.4%. What would the amount of total unemployment taxes the employer would have to pay

  How much do diamond jubilee patrons have to wager in a month

How much do Diamond Jubilee patrons have to wager in a month for the casino to earn an after-tax and after-bonus profit of $28,500

  Prepare journals entries to record the cost of cell phones

Prepare journals entries to record (a) the cost of cell phones replaced under warranty and (b) the estimated liability for product warranties for cell phones

  On may 2 1986 hannah acquired residential real estate for

on may 2 1986 hannah acquired residential real estate for 450000. of the cost 100000 was allocated to the land and

  Five characteristics identified through the first impression

List three positives of self disclosure in communication. List two negatives of self disclosure in communication.

  What are the benefits of project management

Explain the role the project manager played in managing the project's success or failure. Include an example. What are the benefits of project management?

  What is the total interest paid on the loan

What is the total interest paid on the loan? How much more interest do you pay with this structure versus if the loan was fixed for the whole 10 years at 2.5%

  Would you rather own the stocks or bonds of a corporation

Would you rather own the stocks or bonds of a particular corporation if you believed that the corporation was going to earn exceptional profits next year?

  What is the interest deduction for alex for tax year

Alex files a tax return for the 2010 tax year. His adjusted gross income is $50,000. What is the interest deduction for Alex for the 2010 tax year

  Resources for principal and interest payment

The Village of Harris issued $5,000,000 in 6 percent general obligation, taxsupported bonds on July 1, 2011, at 101. A fiscal agent is not used. Resources for principal and interest payments are to come from the General Fund. Interest payment date..

  Calculate janet minimum taxable benefit

Mrs. Janet, the car is available throughout the year. Calculate Janet's minimum 2016 taxable benefit for for the use of auto mobile.

  What is weetons variable overhead spending variance

Managers of Weeton Manufacturing are analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $80,000 in variable overhead but actual variable overhead was $95,000.

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