question 10

question 12

question 13

question 14

question 15

A company had net sales of $780,300 and cost of goods sold of $557,970. Its net income was $23,830. The company's gross margin ratio equals: Multiple Choice 35.6% 39.8% Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $70,200 12,800 49,500 242,000 18,000 100,500 28,000 Multiple Choice 3.05 and 0.33 . 3.05 and 1.03. 2.91 and 97. 117 and 3.91. 97 and 3.05. On September 12, Ryan Company sold merchandise in the amount of $8.400 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,300. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is: Multiple Choice 8,488 Purchases Accounts payable 8.400 8,232 Purchases Accounts payable 8,232 Merchandise inventory Accounts payable 8,232 5,300 Merchandise inventory Accounts payable 5, 8, 4 Accounts payable Merchandise inventory 8,4ee On September 12, Ryan Company sold merchandise in the amount of $7.600 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,900. Ryan uses the periodic inventory system and the net method of accounting for sales. On September 14, Johnson returns some of the merchandise. The selling price of the merchandise is $680 and the cost of the merchandise returned is $440. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is: Multiple Choice O Cash Cash Accounts receivable 7,600 7,600 6,782 Cash Accounts receivable 6,782 6,782 0 138 Cash Sales discounts Accounts receivable 6,92 7,448 0 Cash Accounts receivable 7,448 0 7,4481 152 Cash Sales discounts Accounts receivable 7,600 Using the retail inventory method, if the cost to retail ratio is 75% and ending inventory at retail is $159,000, then estimated ending inventory at cost is $221,143 True or False True True False