- Accounts Receivable 25 000 Sales Revenue Cost Of Goods Sold 10 000 Inventory 25 000 What Is Martson S Gross Profit From 1 (56.1 KiB) Viewed 27 times
Accounts Receivable 25,000 Sales Revenue Cost of Goods Sold 10,000 Inventory 25,000 What is Martson's gross profit from this sale? A) $15,000 B) $35,000 C) $25,000 D) $10,000 A) $101,000. B) $ 85,000. C) $115,000. D) $ 99,000. 10,000 26)
Company A purchased inventory for $100,000. In addition they had purchase returns of $7,000 and paid freight-in of $8,000.
Company A's net purchases would be: 27) An example of an intangible asset is: A) goodwill. B) land. C) coal mine. D) equipment. A) $166,400 B) $38,400 28) On January 2, 2011, KJ Corporation acquired equipment for $260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2012, if KJ Corporation uses the double-declining- balance method of depreciation?