What is theamount of cost of merchandise sold

Assignment Help Accounting Basics
Reference no: EM13864495

Using the following information, what is theamount of cost of merchandise sold?

Purchases

$30,610

Purchases discounts

$893

Merchandise inventory April 1

$7,315

Merchandise inventory April 30

$1,748

Sales returns and allowances

$838

Sales

$46,275

Purchases returns and allowances

$1,260

Transportation In

$1,136

Reference no: EM13864495

Questions Cloud

Prepare statement of cost of goods manufactured : Morrow Corporation incurred the following cost while manufacturing its product: Prepare statement of Cost of Goods Manufactured
Department adds raw materials to process : A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were sta..
How zara generates sustainable competitive advantage : Drawing on the Resource Based View literature, evaluate whether and how Zara generates sustainable competitive advantage.
Use the COGS model to make management decisions : Learning Objective 5: Use the COGS model to make management decisions) Super Toys prepares budgets to help manage the company. Super Toys is budgeting for the fiscal year ended January 31, 2012. One of the most important decisions a manager makes is ..
What is theamount of cost of merchandise sold : Using the following information, what is theamount of cost of merchandise sold? Purchases $30,610, Purchases discounts $893 and Merchandise inventory April 1 $7,315.
The amount of revenue appearing : On October 1 of Year 1 Zeta Company collected $1,200 cash for services to be provided for one year beginning immediately. The company’s fiscal closing date is December 31. Based on this information, the amount of revenue appearing on the Year 1 incom..
Service revenue and cash flow from operating activities : On May 1 of Year 1 Matthew Company collected $2,400 cash for services to be provided for one year beginning immediately. The company's fiscal closing date is December 31. Based on this information, the amount of service revenue and the cash flow from..
Create general ledger accounts for each account : Create general ledger accounts for each account
How did ford motor company and penske logistic work together : How did Ford Motor Company and Penske Logistics work together? Briefly describe the process. How was success measured

Reviews

Write a Review

Accounting Basics Questions & Answers

  The red company uses flexible budgeting for cost control

the red company uses flexible budgeting for cost control. red produced 10800 units of product during october incurring

  Static budget variances-flexible budget variances

Tylon's Hardware uses a flexible budget to develop planning information for its warehouse operations. Determine the 20X9 static budget variances. Determine the 20X9 flexible budget variances.

  What is the amount of cost of goods manufactured

Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $5.75 per direct labor-hour.

  In 2012 raleigh sold 1000 units at 500 each and earned net

in 2012 raleigh sold 1000 units at 500 each and earned net income of 50000. variable expenses were 300 per unit and

  Comment on significant differences or similarities

On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000.

  Determine amount of cash received-prepare journal entries

Determine the amount of cash received and prepare the journal entries for (a) the Jan. 1 issuance and (b) the Dec. 31 recognition of interest.

  How will the development above effect the accounting

What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?

  Determine the gross profit rate

A company shows the following balances: sales: 800,000, sales returns and allowances: 125,000, sales discounts: 25,000, cost of goods sold: 481,000. What is the gross profit rate?

  Evaluate the impact to a business when compensation such as

production budgets please respond to the followingfrom the first e-activity assess the external factors and policy

  Youve been saving up for a new car that you think costs

1. youve been saving up for a new car that you think costs 25000. you already have 10000 and you think that with

  Deducting for a contribution to a traditional ira

Sammy, age 31, is unmarried and is not an active participant in a qualified retirement plan. His modified AGI is $55,000 in 2010. The maximum amount that Sammy can deduct for a contribution to a traditional IRA is:

  Should junior company buy part externally make it internally

Junior Company currently buys 30,000 units of a part used to manufacture its product at $40 per unit. Recently the supplier informed Junior Company that a 20 percent increase will take effect next year.

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