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Gnesinka [82]
3 years ago
6

Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs from one of its suppliers,

paying $120 per chair. On July 5, Rutherford Corporation purchased 18 of these office chairs from Charlet for a list price of $200 each. Rutherford returned 3 of the chairs on July 7, paid one-half of its bill on July 16 and paid the other one-half of July 29. Charlet offers credit terms of 5/15, n/40 to its customers. Calculate the amount of gross profit Charlet Company earned from its sale to Rutherford Corporation.
Business
1 answer:
Kamila [148]3 years ago
7 0

Answer:

Gross profit = $ 840.

Explanation:

Charlet cost of purchasing = $120 per chair * total chairs purchased from suppliers

                  =  $120 * 40 = $4800.

Rutherford:

Cost of purchasing = cost per price * chairs purchased

                                                                                 = $200 * 18 =  $3600.

less: purchase return ( 3* 200)                                                   =  (<u>$600)</u>

                                 Net Purchases                                                 $3000.

Charlet Company

 Gross profit =?

As we know that sales - cost = Gross profit.                                   $

Charlet sales ( $200 each * 18 chairs)                                           = 3600

less: Sales return ( 3*200)                                                             (<u>600)</u>

                                          Net sales                                             3000

less : Cost of goods sold

         (120 * 18)                                                                               <u> (2160)</u>

                                      Gross profit                                             840.

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Price elasticity for a good depends on the share of a consumer's budget spent on a good. Other things being equal, which of the
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Answer:

Monthly Cell Phone Bill

Explanation:

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The following financial information is presented for three different companies. Determine the missing amounts.
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Answer:

Note: <em>The organized question is attached</em>

<em />

d. Net income = Income from operating - Other expenses and losses

Net income = $15,000 - $4,000

Net income = $11.000

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$38,000 = $95,000 - Cost of goods sold

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The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.
Arlecino [84]

Answer:

Date   Accounts Titles & Explanation  Debit  Credit

Dec 31    Rent Expense                          $2,040

               ($6,120 *2/6)

                      Prepaid Rent                       $2,040

Dec 31     Deferred Revenue                 $525

                      Service Revenue                           $525

Dec 31    Salaries Expense                     $700

                      Salaries Payable                           $700

Dec 31     Supplies Expense                  $2,390

                ($3,100 - $710)

                      Supplies                                       $2,390

       

              Demon Deacons Corporation

                 Adjusted Trial balance

                  December 31, 2021

         Accounts             Debit$        Credit$

Cash                               9,100

Account receivable       14,100

Prepaid rent                   4080

Supplies                          710

Deferred revenue                               1,575

Salaries payable                                  700

Common stock                                    11,000

Retain earnings                                   5,100

Service revenue                                 45,245

Salaries expenses          31,200

Rent expenses                2,040

Supplies expenses         <u>2,390</u>          <u>              </u>

Total                                $<u>63,620</u>     $<u>63,620</u>

Prepaid rent = 6,120 - 2,040 =  4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

8 0
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