Answer:
sorry i dont know i was trying but cant figure it out
Explanation:
Answer:
Cost of goods sold =$61,5300
Gross Profit = $144,700
Explanation:
Given the information:
- Purchase : $630,000
- Purchase Returns and Allowances $25,700
- Prchases Discounts $10,900
- Freight-In $18,300
- beginning inventory of $45,000
- ending inventory of $64,600
- net sales of $760,000
As we the, the fomular for total Goods Available for Sale
=
Beginning Inventory + Purchases + Freight-In - Purchase Returns and Allowances - Purchases Discounts
= $45,000 + $630,000 + $18,300 - $25,700 - $10,900
= $67,9900
=> Cost of goods sold = Total Goods Available for Sale - ending inventory
= $67,9900 - $64,600
= $61,5300
=> Gross Profit = Net sales - Cost of goods sold
= $760,000 - $61,5300
= $144,700
Hope it will find you well.
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Answer:
yaah lower is only the answer
Answer:
a. $58,400
Explanation:
A discounted note, will make the person receive a lesser amount than the amount due at maturity. This way the person who grants the note is receiving interest for borrowing.
<em><u>Calculations</u></em>
principal x discount rate x time = discount
<em><u>Where</u></em> rate and time should be expressed in the same metric IE if the rate is annual express time in portion of years if it is monthly, in months.
60,000 x 0.08 x 120/360 = 1,600
Now, we subtract this amount form the nominal:
nominal - discount = net
60,000 - 1,600 = <u>58,400</u>
