What was the amount of best buy

Assignment Help Accounting Basics
Reference no: EM13511994

For the year ended February 28, 2009, Best Buy reported revenue of $45,015 million. Its gross profit was $10,998 million. What was the amount of Best Buy's cost of merchandise sold?

Reference no: EM13511994

Questions Cloud

Find net realizable value of accounts receivable : At the end of the current year, Accounts Receivable has a balance of $750,000; Allowance for Doubtful Accounts has a credit balance of $11,250; and net sales for the year total $4,150,000.
What is the velocity of the car when the brakes are released : A 1100-kg car is moving at 31.8 m/s. A braking force of -5101 N is applied for 4.80 s. What is the velocity of the car when the brakes are released
Submit an example of an ethical situation demonstrating : Submit an example of an ethical situation demonstrating
What is the amount collected by meier on april 25 : On April 15, Meier Company sold merchandise to Curran Company for $5,000 on terms of 2/10, n/30, Assume a return of merchandise on April 20 of $850 and collection in full on April 25. What is the amount collected by Meier on April 25?
What was the amount of best buy : For the year ended February 28, 2009, Best Buy reported revenue of $45,015 million. Its gross profit was $10,998 million. What was the amount of Best Buy's cost of merchandise sold?
Symbolic interactionism explains race-prejudice : the paper should be about a sociological topic e.g Race, Religion, class ... and does it deal with macro level forces such as economic, political, or social structure, or micro level interactions like family and individuals.
Six steps to the decision making process : Six steps to the decision making process
What is the balance of allowance for uncollectible accounts : Prepare the entry to record the uncollectible accounts expense. What is the balance of Allowance for Uncollectible Accounts after this adjustment?
What is the amount of the gross profit : During the current year, merchandise is sold for $275,000 cash and $990,000 on account. The cost of the merchandise sold is $950,000. What is the amount of the gross profit?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mane company operates in five identifiable segments vwxy

will someone please help with these assignments1. operating profit testpong industries operations involve four

  Explain whether each of the following would be expensed on

explain whether each of the following would be expensed on the income statement in2007 or in some later year and why.a.

  Dscribes changes in paid-in capital and retained earnings

the statement of changes in stockholders equity is part of the statement of retained earnings. shows only the ending

  What is the gross profit for the period

A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. If the company uses FIFO, what is the gross profit for..

  Double declining balance method problem

On January 2, 2010, the Hanover Company purchased some office equipment for $20,000. The equipment is expected to have a useful life of five years and a salvage value of $2,000. The depreciation to be recorded for the year at the end of 2010, assu..

  Problem regarding vertical analysis

Vertical analysis is used to compare a balance sheet number from a previous period with an income statement number for the current period.

  Discuss the validity and implications

When questioned by the auditors, the CFO of ABC, Inc. mentioned "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.

  What accounting standard provides the authoritative guidance

What accounting standard provides the authoritative guidance for asset impairments? Briefly discuss the scope of the standard (i.e., explain the types of transaction to which the standard applies).

  Absorption costing income statement problem

If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?

  Partnership interest following the distribution

Marilyn's basis in the partnership interest was $80,000 before the distribution. What is Marilyn's basis in the inventory, land, and partnership interest following the distribution?

  Determine the warranty liability

Determine the warranty liability at January 31, the end of the first month of the current year. What accounts are decreased for the warranty work provided in February?

  Journal entries for income-retained earnings

Prepare in general journal form the entry necessary to correct the books for the transaction in part 1 of this problem, assuming that the books have not been closed for the current year. Compute the net income to be reported each year 2007 through..

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