The company made a sale of goods for RO. 15000 (cost RO 10000) and received 30% in cash and balance on the account. Which of the following is the correct presentation on the accounting equation?   Select one: a. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +12000 (Cash ) = 0 + + 2000 (Profit) b. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) + 10500 (Receivables) = 0 + + 5000 (Profit) c. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +12000 (Cash ) = 0 + + 2000 (Profit) d. Assets = Liabilities + Owners' Equity -10000 (stock of goods) +4500 (Cash) = + 11500 (Receivables) + + 3000 (Profit)

Q: B. A VAT registered business provided us its data in 2021: Gross Sales Price on the following items:…

A: A consumption tax on goods and services known as value-added taxation is imposed from the point of…

Q: Suppose your company sells services of $310 in exchange for $200 cash and $110 on account.…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The following information was taken from the balance sheet of Aglugub Cash P 13 250 Accounts…

A: Formula: Working capital = Current Assets - Current liabilities. Current ratio = Current Assets /…

Q: A) ARTEK cO. is a merchandising company selling OFFICE SUPPLIES, Company's 01.01.2019 Balance Sheet…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were…

A: Hey, since there are two questions posted, we will answer only first question. If you want second…

Q: The trading results of a Merchandise trader is as follows: Net Sales OMR 100,000, Cost of Goods sold…

A: This question deals with the concept of multi-step income statement. In multi-step income statement…

Q: ASG Corporation has the following data in their accounting böoks Sales - P1,000,000 Cost of Sales -…

A: Accounts receivable and cash are balance sheet items and they are not required while computing net…

Q: Amjad Trading LLC : Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO…

A:

Q: The trading results of a Merchandise trader is as follows: Net Sales OMR 150,000, Cost of Goods sold…

A: Operating expenses are those expenses that are incurred by the company to perform the day-to-day…

Q: 1. Record the following transaction in the appropriate journal, ledger accounts and balance off the…

A: Journal entries in the books of ---- (amount in RM) Date Particulars LF Debit amount Credit…

Q: Rent, depreciation, and other operating expenses Prepaid Rent Expense Long-term debt Inventory…

A: Lets understand the basics. For calculating income tax rate, we need to first obtain balancing…

Q: Suppose your company sells services of $260 in exchange for $175 cash and $85 on account.…

A: Journal entry: The record of business transactions in a chronological order in the journal using…

Q: The following is a listing of some of the balance sheet accounts and all of the income statement…

A: GROSS PROFITGross Profit is the Ratio between Net Sales Revenue & Cost of Goods Sold. Net Sales…

Q: Which statement is correct given the following statement of financial positi information? Account…

A: Working capital is the money a company uses to fund its day-to-day operations, covering expenses…

Q: 2. The data below are for HKUST Company. Sales Rent, depreciation, and other operating expenses…

A: Income Statement :— It is one of the type of financial statement that shows revenue, expenses and…

Q: On April 6, Year 1, Home Furnishings purchased $25,200 of merchandise from Una Imports, terms 2/10…

A: The objective of the question is to calculate the amount Home Furnishings must pay Una Imports on…

Q: The following amounts appeared on Plymouth Electronics' adjusted trial balance as of December 31,…

A: Income statement: When all the costs and expenses are subtracted one by one from the sale, then if…

Q: Oak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: On April 6, Year 1, Home Furnishings purchased $37,000 of merchandise from Una Imports, terms 2/10…

A: Given information, •2% Discount would receive only if Home Furnishings paid within 10 days. •As the…

Q: Alpha Company has assets of $638,000, liabilities of $269,000, and equity of $369,000. It buys…

A: Total assets = Total liabilities + Stockholders' equity Given, Office equipment purchased on credit…

Q: Required information [The following information applies to the questions displayed below.] Suppose…

A:

Q: Cracker & Company sold merchandise to a customer on credit. The sale price was $8,000.  What would…

A: Accounting equation is the main foundation of double-entry book keeping system. It shows the…

Q: Ortiz Co. had the following account balances: Sales revenue $ 440,000 Cost of goods sold 220,000…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: Perush. Trade "CAHAYU has the following data: 01/12/2006. Paid-up capital in the form of cash Rp.…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Question 1. Record the following transaction in the appropriate journal, ledger accounts and balance…

A: Journal entry records the transactions and transferred the amount to their respective ledgers and in…

Q: The quick ratio is 2.50 while the current ratio is 3.00. The only items presented as current assets…

A: >Financial ratios are the analysis ratios used to analyze the Financial Statement data.…

Q: The trading results of a Merchandise trader is as follows: Net Sales OMR 100,000, Cost of Goods sold…

A: Formula: Gross profit = Sales revenue - cost of Good sold. Deduction of cost of goods sold from…

Q: ASG Corporation has the following data in their accounting books Sales-P1,000,000 Cost of…

A: Introduction: Income statement: All revenues and expenses are to be shown in Income statement. It…

Q: ASG Corporation has the following data in their accounting books Sales-P1,000,000 Cost of Sales…

A: Introduction: Income statement: All revenues and expenses are to be show in income statement. It…

Q: 1) Purchased $10,000 of inventory for cash. 2) Returned $200 of the inventory purchased in Event 1.…

A: Horizontal analysis is one of the most commonly used financial analysis that arranges the account…

Q: Please find the gross profit and cost of goods sold using this chart.

A: Gross profit means what is left to the company after deducting the expenses from the revenues which…

Q: Account payable at the beginning of the period is P25,600. Total purchases during the period…

A: Cash purchase = Total purchases during the period x (100 - 75)% = P178,500 x 25% = P44,625 Credit…

Q: The company bought Machinery worth RO. 5000 and made 40% cash as part payment. The balance was on…

A: The accounting equation states Assets =Liabilities + Shareholders equity

Q: What would be the journal entries for the below transactions 7 (m) The company sold goods to…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The following is a listing of some of the balance sheet accounts and all of the income statement…

A: Net Sales - Sales is the revenue earned by selling goods to the customer. These are recorded on the…

Q: QUESTION 7 XYZ company provided the following information: $43,500 5,500 10,000 3,000 7,000 30,000…

A: The gross profit is calculated as difference between sales and cost of goods sold.  The net profit…

Q: Echo Company has assets of $638,000, liabilities of $269,000, and equity of $369,000. It buys office…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…