« previous next »

Author Question: If merchandise sells for 3,500, with terms of 3/15, n/45 and the cost of the inventory sold is ... (Read 89 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jul 5, 2018
If merchandise sells for 3,500, with terms of 3/15, n/45 and the cost of the inventory sold is 2,100, the amount charged to sales is
 a. 3,395
  b. 3,500
  c. 2,037
  d. 2,100

Question 2

South Seas reported the following items on its financial statements. Determine the amount of the missing operating expenses.
 
  Net income  50,000
   Sales 250,000
   Cost of goods sold 80,000


jomama

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

250,000 - 50,000 - 80,000 = 120,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Caleb Goodwin, Inventory of Slaves and Livestock. Caleb Goodwin, Inventory of Slaves and Livestock.
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Manage First: Inventory and Purchasing Manage First: Inventory and Purchasing
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Calculate the weighted-average cost of the following inventory purchases:DateQuantity ... Calculate the weighted-average cost of the following inventory purchases:DateQuantity ...
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Video: Forming urine ( influencing factors), Forming dilute urine & Forming concentrated urine

For a complete list of videos, visit our video library