This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Calculate the gross profit for Jefferson Company based on the following: Sales 764,000 Selling ... (Read 95 times)

lak

  • Hero Member
  • *****
  • Posts: 546
on: Jul 5, 2018
Calculate the gross profit for Jefferson Company based on the following: Sales 764,000 Selling Expenses 42,500 Cost of Merchandise Sold 538,000
 a. 495,500
  b. 183,500
  c. 721,500
  d. 226,000

Question 2

All of Team Shirts' financial statements are presented in U.S. dollars. The accounting rule that applies is the ________.
 
  A) separate-entity assumption
  B) going-concern assumption
  C) monetary-unit assumption
  D) historical-cost principle


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

HandsomeMarc

  • Sr. Member
  • ****
  • Posts: 360
Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

C


lak

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jul 5, 2018
Correct answers!


HandsomeMarc

  • Sr. Member
  • ****
  • Posts: 360
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Habitat reconstruction is possible based on the kinds of plants present at past sites. Habitat reconstruction is possible based on the kinds of plants present at past sites.
Based on this figure, what pathway is used during urinary catheterization, in which a tube is ... Based on this figure, what pathway is used during urinary catheterization, in which a tube is ...
Anatomy of the heart. Remember: It is labeled right and left based on the patient’s perspective. Anatomy of the heart. Remember: It is labeled right and left based on the patient’s perspective.
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
How to calculate annuity when compounded semi-annually (Part 1) How to calculate annuity when compounded semi-annually (Part 1)
Ho to calculate the ATP of a 12-Carbon fatty acid, beta oxidation Ho to calculate the ATP of a 12-Carbon fatty acid, beta oxidation
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library