Determine sales and gross profit

Assignment Help Accounting Basics
Reference no: EM13515158

MC Qu. 69 A company had expenses other than cost of go... A company had expenses other than cost of goods sold of $175,000. Determine sales and gross profit given cost of goods sold was $622,000 and net loss was ($41,000).

Reference no: EM13515158

Questions Cloud

What is the gauge pressure in the left section of the pipe : In the figure below, water flows through a horizontal pipe, and then out into the atmosphere at a speed of v1 = 13 m/s. What is the gauge pressure in the left section of the pipe
What is the companys gross profit using lifo : Assuming that a periodic inventory system is used, what is the company's gross profit using LIFO? (rounded to whole dollars)
What accounts for the polytypic nature of our species : Choose and assess a model for the origins of modern H. sapiens, providing evidence that supports your choice. What this question is asking is: given that humans are a polytypic species, we nevertheless are genetically very similar.
Explain solution of hcl needed to consume all the calcium : Determine the volume measured in a buret of a 0.2750M solution of HCl needed to consume all the calcium carbonate in a 2.5 x 1.0 x 0.5 in block.
Determine sales and gross profit : Determine sales and gross profit given cost of goods sold was $622,000 and net loss was ($41,000).
Define what will the final temp of the calorimeter : the calorimeter above that contains 20.00g of water at 23.15 degrees C, what will the final temp of the calorimeter be when the reaction gose to completion
What is the power of the pump : Water is pumped steadily out of a flooded basement at a speed of 5.1 m/s through a uniform hose of radius 0.5 cm. What is the power of the pump
Balance sheet related to cash flow statement : What sections of a balance sheet are related to each of the sections of a cash flow statement?
Explain chemical reaction for the reaction of sodium sulfite : What is the balanced chemical reaction for the reaction of sodium sulfite and bleach (sodium hypochlorite(NaCLO) to produce sodium sulfate and sodium chloride

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare journal entry to record sale of lathe

Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.

  Underlying rationale for alimony rules

What is the underlying rationale for Alimony Rules:

  Research specific company of your choice and determine some

research a specific company of your choice and identify some of the managerial decisions that were made over time and

  Types and benefits and intricacies of rules

Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.

  Basics of sterling depreciation

The sterling trusts owns a business and generated $100,000 in depreciation deductions for the tax year. Mona is one of the income beneficiaries of the entity. Given the following information, can Mona deduct any of the sterling depreciation on her..

  Sarbanes-oxley act article analysis-internal controls

Prepare a 700-1,050-word summary of this article. Be sure to cite your article, and be prepared to discuss your article in the threaded discussions.

  Completed chips and chips in ending inventory

Allocate the total costs between the completed chips and the chips in ending inventory.

  General journal entry for the cash purchase

Prepare CPA's general journal entry for the cash purchase of CMA's net assets. Do not use implied fair value.

  Cost of inventory-sales-purchase

Three important pieces of information are (a) the cost of inventory on hand, (b) the cost of sales, and (c) the cost of inventory purchases. Identify or compute each of these items for Foot Locker, Inc. at the end of its fiscal year 2007.

  Use the above data to prepare in thousands of dollars

the following data in thousands of dollars have been taken from the accounting records of the maroon corporation for

  Distinguish between upstream and downstream sales

What is the essential procedural difference between work paper eliminating entries for unrealized intercompany profit when the selling affiliate is a less than wholly owned subsidiary and such entries when the selling affiliate is a parent company..

  Interest revenue record on the lease

The present value of the minimum lease payments is $3,960,000. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 10%, how much interest revenue will Princess record in 2012 on this lease?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd