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D) $20l.700 ins is a sell' - A) Delivery EXpense 22L mg expense. C) Sales Salaries Expense B) Rent Expense on the ofce D) Advertising Expense A) C ng would Mbe classied as a Current Asset ash B) Accounts Receivable C) Equrpment D) Supplies 27) Interest Expense is classied as a(n): A) Administrative Expense B) Other Expense C) Selling Expense D) Other Income A) Plant and Equipment . . . . B) Current Assets C) LongTerm Liabilitles D) Selling Expenses MultiStep Income Statement: A) Delivery Expense B) Sales Salaries Expense C) Advertising Expense D) Insurance Expense 30) Cost of Goods Sold is classied as a(n): A) Expense account B) Asset account C) Revenue account D) Owner's Equity account 31) At the end of the year Stan Still Stationery Store had the following balances: Sales $485,000; Sales Discounts $2,540; Sales Returns and Allowances $14,280; Sales Salaries Expense $54,000. The Net Sales for the year are: A) $414,180 B) $468,180 C) $501,820 D) $447,820 32) For the current scal year, Purchases were $245,000, Purchase Returns and Allowances were $8,600, Purchase Discounts were $2,200 and Freight In was $32,000. If the beginning merchandise ' inventory was $60,000 and the ending merchandise inventory was $75,000, the Cost of Goods Sold 15'. ' a A) $251,200 B) $272,800 C) $266,200 D) $281,200 33) The difference between net sales and the cost of goods sold is called the on sales. 34) Cash, items that will normally be converted to cash, and items that will be used up within one year are called assets. (:ny2 M\" \"SS-(+5 l I WOWWW Md. No reproduction or distribution without the prior writs-n oonunt oi Mum Educ-1m