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

Author Question: If, in the effort to prove cash, a shortage is found, the amount is treated as a(n) a. cash ... (Read 82 times)

mspears3

  • Hero Member
  • *****
  • Posts: 586
on: Jul 5, 2018
If, in the effort to prove cash, a shortage is found, the amount is treated as a(n)
 a. cash receipts transaction.
   b. petty cash transaction.
   c. revenue earned transaction.
   d. expense.

Question 2

South Seas reported the following items on its financial statements. Determine the amount of cost of goods sold.
 
  Net income  50,000
   Sales 250,000
   Operating expenses 120,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kxciann

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

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


mspears3

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jul 5, 2018
Correct answers!


kxciann

  • Sr. Member
  • ****
  • Posts: 356
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

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.

Magnetosomes found in the spirillum Magnetospirillum magnetotacticum. Magnetosomes found in the spirillum Magnetospirillum magnetotacticum.
Three of the color variants found at Fossil Rim Wildlife Center in Texas Three of the color variants found at Fossil Rim Wildlife Center in Texas
For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu
A poster encourages women to work in munitions to support the war effort. A poster encourages women to work in munitions to support the war effort.
Calculation of the Amount of the Local Anesthetic and Vasoconstrictor Calculation of the Amount of the Local Anesthetic and Vasoconstrictor
Prove the argument using two column proof numbers 2 and 5 only. Prove the argument using two column proof numbers 2 and 5 only.
Video: Introduction to Photolithography - WC, BLF, PA, Hard and Soft baking

For a complete list of videos, visit our video library