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 85 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?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Milestones of Gross Motor Development in Infancy Age ranges provided are for 90% of American infant Milestones of Gross Motor Development in Infancy Age ranges provided are for 90% of American infant
Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme
Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge
Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ... Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ...
A clone-by-clone, or map-based A clone-by-clone, or map-based
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Glucose anabolism reactions: Glycogenolysis and Gluconeogenesis

For a complete list of videos, visit our video library