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Author Question: Calculate the gross profit for Jefferson Company based on the following: Sales 764,000 Selling ... (Read 106 times)

lak

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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


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HandsomeMarc

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Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

C


lak

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Reply #2 on: Jul 5, 2018
Correct answers!


HandsomeMarc

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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