From the given records of Analyze It Company compute for: a. costs of good sold b....

 

Transcribed Image Text:

From the given records of Analyze It Company compute for: a. costs of good sold b. goods available for sale c. gross profit margin JV Sales Expenses 1 Selling and Administrative Operating Expense Sales Cost of Sales Gross expenses is 40% of gross margin 5 7 Merchandise Inventory, end Purchase Freight-in Purchase returns and allowances Merchandise Inventory, Beginning Purchase Discounts 2 Compute for the gross margin and the net income of the following information from the books of Mr.Osama Kha Naba Cash and Credit 9 28 11 Journalize the following taken from the accounts of Rembrants Accounts Information as of July 2001 P 890,456,691 165,914 90,694 78,089 908,567 367,879 sold for cash P123,456 merchandise with 30% trade discounts P12,345 was returned for damaged merchandise purchase merchandise on credit to Teenage Dirtbag Inc. worth P 789,567: Trade discount of 40% terms, 5/10,n/30, freight P 12,000 FOB shipping point returned damaged merchandise to Teenage Dirtbag inc. P 189,657 paid the whole amount to Teenage Dirtbag Prepare a partial income statement for Mr. Rolling Store from this given data. Beginning Inventory January 1, 2000 Ending Inventory Dec.31,2000 16,795 108,483 23,903 Purchases Purchase Discount 30% Purchase returns P 456,768 67,453 P89,643 87,590 15,790 12,561 From the given records of Analyze It Company compute for: a. costs of good sold b. goods available for sale c. gross profit margin JV Sales Expenses 1 Selling and Administrative Operating Expense Sales Cost of Sales Gross expenses is 40% of gross margin 5 7 Merchandise Inventory, end Purchase Freight-in Purchase returns and allowances Merchandise Inventory, Beginning Purchase Discounts 2 Compute for the gross margin and the net income of the following information from the books of Mr.Osama Kha Naba Cash and Credit 9 28 11 Journalize the following taken from the accounts of Rembrants Accounts Information as of July 2001 P 890,456,691 165,914 90,694 78,089 908,567 367,879 sold for cash P123,456 merchandise with 30% trade discounts P12,345 was returned for damaged merchandise purchase merchandise on credit to Teenage Dirtbag Inc. worth P 789,567: Trade discount of 40% terms, 5/10,n/30, freight P 12,000 FOB shipping point returned damaged merchandise to Teenage Dirtbag inc. P 189,657 paid the whole amount to Teenage Dirtbag Prepare a partial income statement for Mr. Rolling Store from this given data. Beginning Inventory January 1, 2000 Ending Inventory Dec.31,2000 16,795 108,483 23,903 Purchases Purchase Discount 30% Purchase returns P 456,768 67,453 P89,643 87,590 15,790 12,561

Answer rating: 100% (QA)

Analyze It Company a Cost of Goods Sold COGS COGSBeginning InventoryPurchasePurchase ReturnsEnding Inventory COGS1084839085671679578089 COGS922166 b G... View the full answer