ADVANCED ACCOUNTING W/ACCESS >CUSTOM<
14th Edition
ISBN: 9781307594683
Author: Hoyle
Publisher: MCG/CREATE
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Textbook Question
Chapter 5, Problem 12P
What is the total of consolidated cost of goods sold?
- a. $140,000
- b. $152,000
- c. $132,000
- d. $145,000
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Students have asked these similar questions
O Given Gross Margin of $212,000, Cost of Goods Sold of $544,000, Sales of $756,000 and net income of
$65,000 what is Selling, General and Administrative expense
8$147.000
6. $132,000
c. $156,000
d. $488,000
e. $212,000
Calculate the sales from the given information
Cost of goods sold is $38,000 Net income is $14,625 Depreciation is $5000 Tax rate is 35%
A. $35,500 B. $51,619 C. $69,000 D. $64,000
Provide Answer with calculation
Chapter 5 Solutions
ADVANCED ACCOUNTING W/ACCESS >CUSTOM<
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - James, Inc., sells inventory to Matthews Company,...Ch. 5 - Prob. 6QCh. 5 - Prob. 7QCh. 5 - Prob. 8QCh. 5 - Prob. 9QCh. 5 - Prob. 10Q
Ch. 5 - Prob. 11QCh. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 1PCh. 5 - Prob. 2PCh. 5 - Prob. 3PCh. 5 - Prob. 4PCh. 5 - Prob. 5PCh. 5 - Prob. 6PCh. 5 - Prob. 8PCh. 5 - Prob. 11PCh. 5 - What is the total of consolidated cost of goods...Ch. 5 - Prob. 13PCh. 5 - Prob. 14PCh. 5 - Prob. 15PCh. 5 - What is the consolidated total for inventory at...
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- Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000. a. $615,000 b. $445,000 c. $685,000 d. $585,000arrow_forwardA company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals a. $743,000. c. $357,000. e. $(193,000). b. $550,000. d. $193,000.arrow_forwardCalculate the Sales from the information given: Cost of goods sold is $38,000 Net income is $14,625 Depreciation is $5,000 Interest paid is $3,500 Tax rate is 35% a. $65,500 b. $51,619 c. $69,000 d. $64,000arrow_forward
- Consider the following income statement: $ 529,192 344,288 78,300 23% Sales Costs Depreciation Taxes Calculate the EBIT. EBITarrow_forwardHow much is the sales of branch to be included in the combined financial statements? a. 2,333,333 b. 2,800,000 c. 2,240,000 d. 0 How much is the cost of goods sold of the branch to be included in the combined financial statements? a. 1,800,000 b. 900,000 c. 1,200,000 d. 1,500,000arrow_forward19. How much is the total distribution (selling) costs? a. 48,000 b. 56,000 C. 64,000 d. 108,000 20. How much is the total administrative expenses? a. 24,000 b. 132,000 C. 226,000 d. 668,000arrow_forward
- Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.arrow_forwardFinancial information is presented below: Operating Expenses $56000 Sales Revenue Cost of Goods Sold Gross profit would be $48000. $238000. $182000. $104000. 238000 134000arrow_forwardCost of Operating Goods Sold ($) Margin Expenses (S) Gross Net Sales Net Profit S4,234,000 S $1,830,000 S $659,500arrow_forward
- A company has sales of $763,000 and cost of goods sold of $306,000 it's gross profit equals what? A. (457,000) B. 763,000 C. 306,000 D. 457,000 E. 1069,000arrow_forwardUse the Financial information is presented below to determine the Gross Profit: Operating expenses $ 40,000 Sales revenue 200,000 Cost of goods sold 150,000 a. $160,000.b. $ 40,000.c. $ 50,000.d. $ 10,000.arrow_forwardCost of goods sold :- Sales - gross profit = 1000000 - 400000 = 600000 Calculation of total expenses:- (Depreciation + advertisement exp. + Rent + salaries + commission + other exp. ) = (80000 + 60000 + 15000 + 56000 + 5000 + 7000) = 223000 Calculation of Gross profit margin:- Formula = sales - cost of goods sold = 1000000 - 600000 = 400000 Calculation of gross profit percentage margin:-Formula = (Gross profit margin / sales)*100 = (400000 / 1000000)*100 = 40% Calculation of net profit margin:- Formula = Gross profit - total expenses = 400000 - 223000 = 177000 Calculation of net profit percentage margin: - Formula = (Net profit / Net Sales)*100% = (117 000/ 1 000 000) *100 = %17.7 Calculation of Current Ratio: - Formula = Current Assets / Current Liabilities = 135 000/ 47 000 = 2.87 : 1 Calculation of Acid Test Ratio: - Formula = Liquid Assets / Current Liabilities Liquid Assets = Cash + Accounts Receivables = 100 000 + 20 000 = 120 000 Acid Test ratio = 120 000/ 47 000 = 2.55 : 1…arrow_forward
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Financial ratio analysis; Author: The Finance Storyteller;https://www.youtube.com/watch?v=MTq7HuvoGck;License: Standard Youtube License