Answer:
b. $7,972
Explanation:
The computation of the amount of the gross profit earned is shown below:
But before that we have to do the following calculations
Net sales = $35,000 - $3,600 = $31,400
Merchandise cost = $24,500 - $1,700 = $22,800
Discount allowed= $31400 × 2% = $628
Now
Gross profit earned is
= $31,400 - $22,800 - $628
= $7,972
Answer:
Explanation:
1. The journal entries are shown below:
Bad debt expense A/c Dr $3,378
To Allowance for doubtful debts A/c $3,378
(Being bad debt expense is recorded)
Allowance for doubtful debts A/c Dr $4,510
To Account receivable A/c $4,510
(Being written off amount is recorded)
2. The computation of the net sales is shown below:
= Gross sales - sales discount - sales return - credit card fees
= $140,756 - $1,344 - $996 - $2,129
= $136.287
Answer:
scenario 1
owner made no investment in the business and no dividend were paid during the year,<em> there may be no income or net loss incurred by the business. there is no decrease or increase in equity.</em>
scenario 2
owner made no investments in the business but dividend were $700 cash per month, <em>the net income earned during the year equal $700*12 = $8,400.</em> <em>There is no changes in equity</em>
scenario 3
No dividend were paid during the year but owner invested an additional $45,000 cash in exchange for common stock. <em>There will be increase in equity by $45,000 but net income or net loss cannot be determined</em>
scenario 4
Dividend were $700 cash per month and the owner invested additional $35,000 cash in exchange for common stock. <em>The net Income earned will $8,400 while $35,000 will added to equity as additional capital.</em>
Explanation:
Answer:
Here Hope has missed clicking the Header Row Options.
Explanation:
Here Hope has missed clicking the Header Row Options, that's why the row of Gas an Percentage has gone to the third number. He has chosen the Ascending Order Button, that's why all the data has been arranged in the alphabetically ascending order, which consequently has dislocate the Main heading of Gas and Percentage from the top.
It should be like as shown below (After clicking Header Row Option):
Gas Percentage
Argon 0.93
Carbon Dioxide 0.04
Nitrogen 78.00
Oxygen 21.00
Other Gases 0.03