Cushman Company had $816,000 in net sales, $357,000 in gross profit, and $204,000 in operating expenses. Cost of goods sold equals: Multiple Choice $459,000.
Q: JIFG Company sales each unit for P 58, Variable cost of each unit is P 28, Determine the…
A: Formula: Contribution margin per unit = Sales price per unit - Variable cost per unit Deduction of…
Q: dvise Michelle of the income tax consequences on receipt of $210,000 from Alex.
A: Annuity is simply the payments which are received by the person who has invested into it for a…
Q: Use the information from part b. Now, instead of 10 years, the lease termis only 3 years with annual…
A: Computation Interest = Lease liability * Incremental interest rate = 66565 * 5%…
Q: An accounting trasaction simultaneously decreases assets and equity.This transaction is explained by…
A: Lets understand the basics. All the accounting transaction are having dual impact. In other words…
Q: 2. Gemini is having trouble understanding its manufacturing overhead costs. A couple of years ago,…
A:
Q: The auditor is required to document each misstatement identified as "clearly trivial."
A: Trivial misstatement: Trivial misstatement means very small materiality value as 1% to 5% of…
Q: Jackie knows that if she didn’t run her own business, she could return to her previous job at a…
A: a) Jackie owns and operates a website design business. In order to break even fixed cost must equal…
Q: Asset purchased for $900,000. The expected life is 5 years. salvage value is $100,000. what is the…
A: The question is related to Depreciation Accounting. The depreciation as per Straight-line Method is…
Q: A special revenue fund reports total assets of $400,000 and total liabilities of $375,000. It…
A: Basic Accounting concepts Fund Accounts balance
Q: counting records and bank statement of Jeff's Seashell Store provide the following information at…
A: Bank Reconciliation Statement is not a part of Book Keeping but is a method to ensure that there are…
Q: The following information were taken from the statement of realization and liquidation of ABC…
A: Net income: 66,000
Q: he partners Ma
A: The sharing of profit and loss in accordance with the profit and loss sharing ratio.it completely…
Q: Company X (A) S 105,200 350,600 Sales revenue Beginning inventory Net purchases Ending inventory…
A: The main purpose of every business organisation is to generate profits. Business needs to make sales…
Q: r high electromagnetic radiation environments. weiter Company manufactures and sells a specialized…
A: Concept of CVP Analysis
Q: A movie production studio incurred the following costs related to its current movie: Purchased…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Pit Coporation owns 75% of Stop Company's outstanding common stock. On 08/28/21, Pit sold inventory…
A: Consolidated entry is the single entry by taking multiple accounts or businesses into a single point…
Q: At December 31, Artists Unlimited Company had the following stockholders' equity components that…
A: The shareholders' equity section includes the changes to share capital and retained earnings of the…
Q: What is an unrecognized tax benefit and how does it affect a company's current income tax expense?
A: The Meaning of Income Tax: FASB defines income tax as a tax on earnings. It is measured in terms of…
Q: The following data summarize the operations during the year. A. Purchase of raw materials on…
A: There are two type of costs being incurred in business of manufacturing or purchases. These may be…
Q: On March 31, 2021, management of Quality Appliances committed to a plan to sell equipment. The…
A: The question is related to the Depreciation Accounting. The Depreciation as ler Straight-line Method…
Q: Tristen Company purchased a five-story office building on January 1, 2019, at a cost of $6,400,000.…
A: Depreciation means the amount fixed assets written off due to normal wear and tear , normal usage ,…
Q: Consider the following accounts, and determine if the account is an asset (A), a liability (L), or…
A: Introduction: All Assets and Liabilities are shown in Balance sheet. It tells the net financial…
Q: The present value of the net cash flows for Product A is $65,145 while the cost of the initial…
A: The question is based on the concept of Financial Management. Profitability index is the ratio of…
Q: 10 Slosh Cleaning Corporation services both residential and commercial customers. Slosh expects the…
A:
Q: Highsmith Rental Company purchased an apartment building early in 2021. There are 20 apartments in…
A: Under straight line method, depreciation is charged equally over the useful life of asset.…
Q: You plan to invest in one of two home delivery pizza companies, High and Low, that were recently…
A: ANSWER: Company's High: Debt = 3,000,000 x 70 / 100 = 210,000,000 / 100 = $…
Q: QUESTION 3 Your dad made the following estimates as he considered upgrading the air-conditioning…
A:
Q: The following items were identified to comprise CHI company’s liabilities as of December 31, 2016…
A:
Q: Reagan, Inc., has developed a chew-proof dog bed—the Tuff-Pup. Fixed costs are $204,400 per year.…
A: Answer 1) Calculation of number of units to be sold to Break-even Number of units to be sold to…
Q: On January 1, 2016, Christine Co. acquired 20,000 ordinary shares out of the 200,000 outstanding…
A: You have posted multiple-part questions, so as per Bartleby policy only the first three interlinked…
Q: ses 9
A: Trading account is a statement which is prepared by a firm. It shows the gross profit of firm for a…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Daybreak Technologies…
A: The question is based on the concept of Cost Accounting.
Q: You are auditing Army Corporation's financial statements for the period ended December 31, 2021.…
A: The determination of correct initial cost of Real property A and the unrealised holding gain to be…
Q: to borrow PHP 1.7M from a bank and plans to repay the same amount in 8 years. If the bank charges…
A: Concept of Bank Loan Bank borrowing and amortisation
Q: The following data are given for Stringer Company: Budgeted production 963 units Actual production…
A: Formula: Direct Material price variance = (Actual material price per ounce - Standard material price…
Q: What is the definition of analytical procedures? What is timing of analytical procedures in a…
A: The audit procedure indicates the stages and programs of an audit performed by the auditor to obtain…
Q: Ted Hughes owns a plumbing business,which is run as a company called "Hughes Plumbing Pty…
A: Separate Entity Concept of Accounting states that the owner and the business should be treated…
Q: Consider the following accounts, and determine if the account is an asset (A), a liability (L), or…
A: Lets understand the basics. Asset accounts are accounts on which company has a rights. It include…
Q: For each item that follows, indicate whether a debit or acredit applies A. increase in prepaid…
A: Introduction: Each and every business effects two aspects one is giving and taking aspect. 1 ) debit…
Q: Long-Term Solvency Analysis The following information was taken from Station Company's balance…
A: The balance sheet shows the financial position of the company that involves the assets, liabilities,…
Q: A company has common stock with a market price of P54.50 per share and an expected dividend of P2.81…
A: For every business, issue of shares is one of the important source of finance. Shares can be common…
Q: For the 2019 taxation year, Sylvia Ivany has net employment income of $90,000, spousal support…
A: The RRSP deduction limit is the amount that can be deposited as an RRSP contribution. This is…
Q: shareholder
A: Answer: A director has a responsibility to properly disclose any commercial prospects to the board…
Q: C.requires equilibrium of resources and the claims on those resources
A: Answer: The accounting is equation is called the balance sheet equation. According to the accounting…
Q: Exercise 7-14 Variable Costing Unit Product Cost and Income Statement; Break-Even Analysis (LO7-1,…
A: Contribution per unit = Selling price per unit - Variable cost per unit…
Q: On January 1, 2020, a machine was purchased for $400,000 by Younger Leasing Co. The machine is…
A: The main difference between IFRS and ASPE using is that the lease is Capital Lease under IFRS while…
Q: Find the current yield (as a %) of a bond whose coupon rate is listed as 4.875 and currently selling…
A: Current Yield = Annual Coupon/ Current price of Bond Current Yield = $ 4.875/ $ 104.875 Current…
Q: Beacon Corporation issued a 3 percent stock dividend on 37,000 shares of its $7 par common stock. At…
A: A stock dividend is the unrestricted distribution of a company's common stock to its shareholders. A…
Q: 500000 258000 250000 62000 Ending retained Earnings? Question 24) Sales Variable and fixed costs…
A: Formula: Ending Retained Earnings = Beginning retained Earnings + Net income - Dividends paid
Q: Alpha Company uses the owns a 30% investment in Bravo's common stock. During 2021, Bravo reported…
A: The question is related to investment in Associates. The details are given regarding the same.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals: Multiple Choice $(417,000). $695,000. $278,000. $417,000. $973,000.Cushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of $18,540, cost of goods sold of $391,400, and $283,455 In operating expenses. Net income equals: Multiple Choice O $793,100. O $401,700. O $180,045. $149,145. $118,245.Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and administrative costs are $100,000. Taxes are $40,000. a. What is the Choose.. gross profit?
- Cushman Company had $814,000 in sales, sales discounts of $12,210, sales returns and allowances of $18,315, cost of goods sold of $386,650, and $280,015 in operating expenses. Gross profit equals: O Multiple Choice $396,825. O $415,140. $409,035. $783,475. $116,810.Parkside Pool reports net sales of $551,000, gross profit of $198,000, and net income of $34,000. The company's cost of goods sold is: $551,000. $232,000. $353,000. $319,000.If Net Sales Revenue is $108,000, Gross profits are $28,000 and Operating expenses are $12,000. What is the Cost of Goods Sold and Net Profit or Loss? 1. COGS $38,000 and Profit $98,000 2. COGS $88,000 and Proft $10,000 3. COGS $80,000 and Proft $16,000 4. COGS $98,000 and Loss $38,000 Which step in the accounting cycle occurs prior to the preparation of the financial statements? 1. Record and post adjustments 2. Analyse transactions 3. Analyse the changes in the accounts 4. Close the accounts Bluefield Limited is considering a project that will require an initial investment of $50 000 and is expected to generate future net cash flows of $10 000 annually for years 1 to 3 and $5000 annually for years 4 to 10. The project's payback period is: 1. 4 years 2. 5 years 3. 6 years 4. 7 years
- Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200Bogs company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit margin of 25%. Sales revenue amounted P7,500,000. The general and administrative, and selling expenses are P1,125,000. Determine the amount of cost of goods soldThe income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of $130,000, and cost of goods sold of $219,000. What is the amount of net salesrevenue?a. $362,000b. $492,000c. $273,000d. $349,000
- A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals a. $743,000. c. $357,000. e. $(193,000). b. $550,000. d. $193,000.Kingsbury Manufacturing has net sales revenue of $800,000, cost of goods sold of $343,600, and all other expenses of $327,800. The net profit margin is: Multiple Choice 0.37 0.16 0.57 0.84 < Prev Next im 39 of 50Cupery Co. has net sales of $105,000, cost of goods sold of $70,000, and operating expenses of $20,000. What is its gross profit and its gross profit rate?