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Anit [1.1K]
3 years ago
9

Presented below is information for Cullumber Company for the month of January 2017.

Business
1 answer:
Law Incorporation [45]3 years ago
7 0

Answer:

you cannot journalize these transactions. you can prepare an income statement which is not the same:

Sales revenue                                   $393,500

Sales discounts ($8,800)

Sales allowances ($18,600)             <u> ($27,400)</u>

Net sales revenue                             $366,100

Cost of goods sold                         <u>($205,200)</u>

Gross profit                                       $160,900

Operating expenses:

Rent ($33,000)

Freight out ($8,200)

Insurance ($13,600)

Salaries ($60,200)                          <u>($150,000)</u>

Operating income                              $10,900

Income taxes                                      <u>($5,300)</u>

Net income                                          $5,600

Other comprehensive income         <u>  $2,000</u>

Total income                                       $7,600

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According to circus founder p.t. Barnum, what happens without publicity?
Ad libitum [116K]

Answer:

The correct answer would be, Decline in Customers.

Explanation:

P.T. Barnum was a successful American promoter. He founded Ringling Bros. and Barnum & Bailey Circus in 1871. At a young age, he moved to New York and tried a lot of businesses including newspaper publishing and running a boarding house.

He started the circus in 1871 which became a huge success just because of his work plus the tactics of advertisement he used to promote his work. According to him, Decline in the customers happen without publicity. He believed that people will come to see your show only if you have attracted them enough to get them out of their houses and come to see your show through your powerful advertisements.

4 0
3 years ago
Read 2 more answers
What are the four basic factors that effect workplace safety?
andre [41]
Answer Tasks, workload and work patterns. Working environment and workplace design. Workplace culture and communication.
8 0
2 years ago
Panther Company's bookkeeper debited supplies expense for the cost of goods sold during that month. The bookkeeper discovered th
MakcuM [25]

Answer:

Cost of Goods Sold                                               Dr.

     To Supplies Expense

Explanation:

The journal entry for cost of goods sold should've been:

Cost of goods sold A/C                           Dr.

       To Purchases A/C

(Being cost of goods sold expense recorded)

The wrong entry passed has been:

Supplies expenses A/C                                           Dr.

      To Purchases A/C

The rectifying (correcting) journal entry should be:

Cost of Goods Sold A/c                                           Dr.

      To Supplies Expenses A/C

(Being rectification entry for cost of goods sold recorded)

Cost of goods sold is an expense and expenses should be debited.

At the same time, purchase being a nominal account, crediting it would reduce the purchases balance.

Supplies expense was wrongly debited so it has been credited to cancel out the effect.

7 0
3 years ago
Because Maya knows that the most important part of an e-mail message is the subject line, she should:
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The answer is B, and the subject line has to be short and cohesive with the subject of the whole e-mail.
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3 years ago
Consider the following year-end information for Spitzer Corporation: Cost of goods sold $420,000 Sales revenue 800,000 Nonoperat
gayaneshka [121]

Answer:

$210,000

Explanation:

operating income or EBIT = net sales revenue - cost of goods sold - operating expenses

in this case:

EBIT = $800,000 - $420,000 - $170,000 = $210,000

net income = EBIT - non-operating expenses - income taxes = $210,000 - $10,000 - $80,000 = $120,000

6 0
3 years ago
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