Refer to the information for Takenson Corp.Calculate the cost of goods sold $211,000 Takenson Corp. Inventory (beginning)16,000 Inventory (ending)30,000
Selected account balances are listed below: is a merchandising company that uses the periodic inventory system. Sales returns and allowances 910 $30,210 Takenson Corp. Using the following information, what is the amount of cost of goods sold? The cost of goods purchased is equal to $9,070. What is amount of net sales from the above transactions? $14,945 A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $3,600 Transportation-In, $650 Purchases, $10,700 Purchase Returns and Allowances, $1,950 Purchase Discounts, $330. paid the invoice within the discount period. issued an allowance for $1,750 for merchandise returned that originally cost $1,400. The cost of the merchandise sold is $15,400. Which one of the following would appear on the income statement of a merchandising company, but not on the income statement of a service company? Cost of goods sold Travelli Co.
$13,000 Which one of the following types of inventory accounts would be used by a wholesaler or retailer? Merchandise Inventory The account a manufacturer uses to record the cost of products completed and available for sale is called Finished Goods Inventory. Determine the amount of supplies expense for the year. At December 31, supplies on hand are $1,000. At January 1, supplies on hand were $2,000. purchased supplies at a cost of $12,000 during the year. At December 31, 2017, supplies on hand are $2,500. At January 1, 2017, supplies on hand were $2,000. If Vonn's accounting period ends on December 31, 2017, what will be reported on the financial statements? Prepaid Rent of $7,000 on its balance sheet at DecemFrank Corporation purchased supplies at a cost of $15,000 during 2017.
After the adjustments are recorded and posted at December 31, 2017, what are the balances in the Salaries Expense and Salaries Payable accounts? Salaries Expense Salaries Payable However, additional salaries of $5,000 had been earned, but not paid or recorded at December 31, 2017. recorded salary expense of $100,000 in 2017. After the adjustments are recorded and posted at December 31, determine the balances in the Supplies and Supplies Expense accounts. At December 31, the actual supplies on hand amount to $1,300. During the year, supplies with a cost of $4,000 were purchased. Charlie Company had $1,800 of supplies on hand at January 1. What happens to the accounting equation when the adjustment that recognizes accrued interest revenue is recorded? Assets increase and stockholders' equity increases.
0 kommentar(er)
