Author Question: If merchandise sells for 3,500, with terms of 3/15, n/45 and the cost of the inventory sold is ... (Read 44 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
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
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
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

For a complete list of videos, visit our video library