A company has sales of $375,000 and its gross profit is $157,000. Its cost of goods sold equals:
answer
$217,500
question
On March 12, Klein Company, Inc sold merchandise in the amount of $7,800 to Babson Company with credit terms of 2/10, n/30. The cost of the items sold is $,4500 Klein uses the perpetual inventory system. The journal entry on March 12 is:
Garza Company had sales of $135,000 sales discounts of $2,000, and sales returns of $3,200. Garza Company's net sales equals:
answer
$129,800
question
Sales less sales discounts less sales returns and allowances equals:
answer
Net sales.
question
A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals:
answer
-$417,000
question
Cushman Company, Inc had $800,000 in net sales, $350,000 in gross profit and $200,000 in operating expenses. Cost of goods sold equal:
answer
$450,000
question
On May 1, Shiling Company, Inc sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the item sold is $4,000, Company uses the perpetual inventory system. The journal entry or entries that Shieling will make on May 1 is
2% cash discount if the amount is paid within 10 days, or the balance due in 30 days.
question
On May 1, Anders Company Inc purchased merchandise in the amount of $5,800 from Shiling, with credit terms 2/10, n/30 Anders uses perp inv system. The journal entry or entries that Anders will make on May 1 is:
