Calculate the gross profit for Jonas company using the data provided. Sales 835,000 Selling Expenses 52,500 Cost of merchandise sold 476,000 Sales discounts 7,100 Sales returns and allowances 3,650

Cost of goods sold and related items The following data were extracted from the accounting records of Harkins Company for the year ended April 30, 20Y8: Estimated returns of current year sales 11,600 Inventory, May 1, 20Y7 380,000 Inventory, April 30, 20Y8 415,000 Purchases 3,800,000 Purchases returns and allowances 150,000 Purchases discounts 80,000 Sales 5,850,000 Freight in 16,600 a. Prepare the Cost of goods sold section of the income statement for the year ended April 30, 20Y8, using the periodic inventory system. b. Determine the gross profit to be reported on the income statement for the year ended April 30, 20Y8. c. Would gross profit be different if the perpetual inventory system was used instead of the periodic inventory system?

Using the accounts and amounts below, calculate Net Sales: Account Amount Sales Revenue $142,055 Purchase Discounts 1,886 Sales Discounts Sales Returns and Allowances 2,881 2,515 Cost of Goods Sold 40,889

A company shows the following balances: Sales Revenue $2962000Sales Returns and Allowances 402000Sales Discounts 60000Cost of Goods Sold 1350000 What is the gross profit rate? 46.0%58.0%54.0%66.0%

Please given correct answer general accounting

A company reported the following: Cost of Goods Sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances What is the amount of gross profit? Multiple Choice $108,360 $98,950 $121,000 $203, 200 53,120 3,920 16,500 26,080 292,000 3,040 2,640

Perform a vertical analysis for the entry "Gross Sales" on the portion of an income statement shown below. (Round to nearest tenth.) Revenue Gross Sales Less: Sales Returns and Allowances $182,000 ??? 11,900 170,100 Net Sales Cost of Goods Sold Merchandise Inventory, Jan. 1 70,150 Net Purchases 58,300 Goods Available for Sale 128,450 Less: Merchandise Inventory, Dec. 31 85,000 Cost of Goods Sold 43,450 Gross Margin 126,650

Using the following information, what is the amount of gross profit? Purchases $ 31,501 Selling expenses $ 788 Merchandise inventory, September 1 6,486 Merchandise inventory, September 30 9,529 Administrative expenses 1,194 Sales 49,224 Rent revenue 588 Interest expense 1,105 a. $20,766 Ob. $49,224 Oc. $19,978 Od. $77,682

Review the​ following: Data Table Cost of Goods Sold $101 Gross Sales 181 Sales Returns and Allowances 16 Sales Discounts 21 Operating Expenses 47   From the information​ provided, calculate: a. Gross profit b. Net income or net loss   Calculate​ (a) Gross profit.     -   = Gross profit   -   =     Calculate​ (b) Net income or net loss. ​(Use parentheses or a minus sign to show a net​ loss.)     -   = Net income or net loss   -   =

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