User Account

All Pages

What was Saggy gross profit for the year

Assignment Help Accounting Basics
Reference no: EM132643685

Question - During 2020 Saggy's Store had sales of $72,000; cash received of $70,000 of which $2,000 was classified as unearned revenue; cost of goods sold of $24,000; and cash paid for inventory of $18,000. What was Saggy's gross profit for the year?

a. $48,000

b. $46,000

c. $40,000

d. $42,000

e. None of the above

Reference no: EM132643685

Questions Cloud

Companies take to protect trade secrets : What steps can companies take to protect trade secrets? how does one separate data intended for the employer from what might be considered personal property?
How much were Peanut financing cash flows : Peanut, Inc. went into business on August 1, 2020. During the remaining five months of 2020, How much were Peanut financing cash flows
What the amount awarded is approximately : After a golf ball struck Boye, If money is worth 9,95% per year, compounded monthly, then the amount awarded is approximately
How digital forensics from the phone was utilized in case : Smartphones contain digital data and are often a key source of information for crimes. Summarize a criminal case in which a smartphone was a critical component.
What was Saggy gross profit for the year : During 2020 Saggy's Store had sales of $72,000; cash received of $70,000 of which $2,000 was classified. What was Saggy's gross profit for the year
Crime prevention through environmental design : Crime Prevention Through Environmental Design (CPTED) is a major concept in physical security.
What is the role of a contingent liability : What Relations between the balance sheet and statement of profit and loss account? What is the role of a contingent liability in preparation of accounts?
First lines of security defense that companies : One of the first lines of security defense that companies (and individuals) should perform is to enable a firewall.
How could poverty have an effect on women : How could poverty have an effect on women who use drugs or become offenders? What are some factors to consider while reentry planning for women, as well as.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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