tests.mettl.com/test-window/f55ac827#/testWindow/0/12/1EYAccounting AssessmentTotal 00:55:09Finish TestSection 1 of 1 Section #1 v578.1011 12 1314 1513 of 45All243Question # 13G RevisitChoose the best optionThe following information is available for an entity for the quarter ended March 31, of the currentyear Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases190,000. The gross profit margin is normally 20% of sales What is the estimated cost of themerchandise inventory at March 31, of the current year?O 20,000O 40,00060,000180,000Next Queslion+91-82878-03040Zaineh Support +1-650-924-9221413 PMmetil1/16/2021

Given that: Sales = $200,000 Gross profit margin = 20%

Section 1 of 1 Section #1 v 9. 7 8 9 10 11 12 13 14 15 13 of 45 All Question # 13 G Revisit Choose the best option The following information is available for an entity for the quarter ended March 31, of the current O 20,000 year: Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases 190,000. The gross profit margin is normally 20% of sales. What is the estimated cost of the merchandise inventory at March 31 , of the current year? O 40,000 O 60,000 O 180,000

Section 1 of 1 Section #1 v 9. 7 8 9 10 11 12 13 14 15 13 of 45 All Question # 13 G Revisit Choose the best option The following information is available for an entity for the quarter ended March 31, of the current O 20,000 year: Merchandise inventory, as of January 1 of the current year 30,000, Sales 200,000, Purchases 190,000. The gross profit margin is normally 20% of sales. What is the estimated cost of the merchandise inventory at March 31 , of the current year? O 40,000 O 60,000 O 180,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 83E

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How many reportable segments do FRUITAS have for year 2021 in accordance with IFRS 8, Operating Segments?
A https://ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser=0&launchUrl=https%253A%2... ☆ - Apply: Current and Long-Term Liabilities ... G Saved Help Save & Exit Submit 1 Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern's fiscal year ends December 31, and the 2021 financial statements are issued on March 15, 2022. a. Eastern is involved in a lawsuit resulting from a dispute with a supplier. On February 3, 2022, judgment was rendered against Eastern in the amount of $116 million plus interest, a total of $131 million. Eastern plans to appeal the judgment and is unable to predict its outcome though it is not expected to have a material adverse effect on the company. b. In November 2020, the State of Nevada filed suit against Eastern, seeking civil penalties and injunctive relief for violations of environmental laws regulating hazardous waste. On January 12, 2022, Eastern reached a settlement…
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ThefollowingtrialbalancehasbeenextractedfromtheledgerofMr.Cole,asoletrader:Trialbalanceasat31December,2020ParticularsDebit¢Credit¢Sales138,000Purchases82,350Travelexpenses5,200Drawings7,800Rent,rates&insurance6,600Postageandstationery3,000Advertisement1,330Salariesandwages26,420Baddebt8,700InvestmentIncome15,890Debtors12,120 Creditors 130 Cashinhand1,700Cashatbank1,000Inventoryasat1January,202011,800Equipmentatcost58,000Loan19,000Capital53,000226,020226,020Inventoryatthecloseofbusinesshasbeenvaluedat¢13,500Required;Prepareanincomestatementfortheyearending31stDecember2020andabalancesheetasatthatdate.
Instructions: 1. Based on the information provided below, please calculate the total accrual needed at the end of Q1-2022 (3/31/2022) by vendor. 2. Round the total accrual to the nearest 10. 3. Utilizing the rounded total accrual amount, and the provided information, show what journal entry(s) should be posted at the end of Q1-2022. 4. Format/change/improve this tab however you like to make it easier to understand. This is a list of all invoices received and paid related to Q1 for the respective vendors: Invoice/Start Date Vendor Invoice Number Amount 2/1/2021 California Roofing 3AD24DF982D 1/1/2022 Hot Cakes LLC 1/6/2022 Jammer Joes Pools D48F5A4D8 1/10/2022 Else's Hammer Sho 1/19/2022 Washmart Co 2/4/2022 Hot Cakes LLC 2/5/2022 ABC Plumbing 2/16/2022 Else's Hammer Sho 3/17/2022 Spooner forks Inc UUTTRSFS 3/19/2022 Else's Hammer Sho Washmart Co California Roofing Jammer Joes Pools Spooner forks Inc Total Accrual 2. Rounded Total 3. JE(s) needed at 3/31/2022: Account Type Debit Expense…
estions - Blackboa x NWP Assessment Player UI App x A education.wiley.com/was/ui/v2/assessment-player/index.html?launchid 5750652f-a595-413e-b7d3-15080082c239/question/22 ter 6 Questions 0/1 E Question 23 of 25 You have the following information for Sheridan Inc. for the month ended June 30, 2022. Sheridan uses a periodic inventory system. Unit Cost or Date Description Quantity Selling Price June Beginning inventory 40 $34 June 4. Purchase 135 37 June 10 Sale 110 64 June 11 Sale return 15 64 June 18 Purchase 55 40 June 18 Purchase return 10 40 June 25 Sale 65 70 June 28 Purchase 35 44
ANotes X A Soluti x A Notes x A Soluti x A Tuton X Answ X OTgzNDkyOTcw/a/MJU1MTU2OT94NZAX/details 2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac 2020: RM 83,030 1,620 800 145,800 10,000 8,500 232,950 68,000 3,600 8,400 4,300 9,600 3,180 28,400 16,440 Particulars Capital Carriage in Carriage out Purchases Office equipment Motor vehicle Sales Wages and salaries Rent and rates Lighting and heating Vehicles running cost Telephone expenses General office expenses Debtors Creditors Provision for depreciation: Motor vehicle Office equipment Provision for doubtful debts 4,250 4,000 500 13,570 6,200 Drawings Cash at bank Cash in hand Stock as at 1 April 2019 Return inwards Return outwards 300 8,000 3,800 2,900 Additional information as at 31 Mac 2020: Stock on hand was valued at RM8,800 Rent and rates prepaid RM1,200 Wages and salaries RM1,750 iv. i. ii. i. Depreciation is to be provided as follows: a. Motor vehicles b. Office equipment 50 % reducing…
View History Bookmarks Window Help A education.wiley.com 1 ך WP NWP Assessment Player UI Application DAXMED WALI FURINL Question 26 of 42 View Policies Current Attempt in Progress Which of the following is in accordance with generally accepted accounting principles? Accrual-basis accounting Cash-basis accounting Both accrual-basis and cash-basis accounting Neither accrual-basis nor cash-basis accounting Save for Later OO O O