Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Support U barang Selale of 100
Support U barang Selale of 100.000 and sales return of 112 bel w Berlin w NAME SECTION PROFESSOR Multiple Choice ta P10,000 CPO,000 P250.000 2. Suose amir Alindogan Catering's entory account showed a bulante P100,000 before the year end adjustments. The physical count of good one totaled P7,000. To adjust the accounts, Hamil Alindogan would make this 1 3.000 fremst Como Soi 3.000 3.000 1000 ventury Cost of Goods sold 1,000 3.000 mory 2,000 Which account in question 2 would Rami Alindogan close at the end of the year! Cost of Goods Sold Accounts Receivable Accounts Payable d Inventory 9 4. On a warheat for a merchandising entity that uses the perpetual invert system the cost of goods sold is contained in one account in the Balance sheet com the cost of goods sold is contained in one account in the Income Statement columns the cost of goods sold is created by an entry in the Adjustments column d. the items composing cost of goods soldate scattered through the incomt Statement columns
1 )Option C
Gross Margin= Net Sales- Cost of Goods Sold
= (300000-40000)-160000
=100000
2)Option b) Debit Credit
Cost of goods sold 3000
Inventory 3000
This will reduce the value of the inventory to 97000 and it will be charged to cost of goods sold
3) Option a) Cost of Goods Sold
The other accounts are balance sheet items and will carry forward their balances
4) Option B
The COGS is contained in one account in the Income Statement column.
