3. One store\'s information is listed in the table below: $700 $1.288 $950 $600

Question

3. One store's information is listed in the table below: $700 $1.288 $950 $600 $7600 $20.900 SALES RETURNS RENT EXPENSE SALES DISCOUNTS DEPRECIATION EXPENSE COST OF MERCHANDISE SOLD GROSS SALES ADVERTISING EXPENSE SALARY EXPENSE HEAT EXPENSE $1650 51, $2,900 $900 Using this information, calculate the store's: (a) Net sales (b) Gross profit (c) Total operating expenses (d) Net income PART B: Answer answer is worth four points. rte each of the following questions. Be sure to show all of your work and calculations. Each 1. Fas t Trackers Sporting Goods received 360 pairs of Adidas running shoes. Each pair sells for $58. Acme Trackers $26, sold? efound of the pairs to be defective and returned them. Assuming each pair cost Fast what profit did Fast Trackers make assuming that all nondefective sneakers were 2. The checkbook of The Island Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected a $2,000 note minus a $5 service charge. There was a deposit in transit of $610.88. Several checks outstanding totaled $1.196.17. The Island Company col- lected $42.33 in interest on the checking account. The Island Company recorded a $300 check for $400. The bank service charge is $14.99. What is the adjusted reconciled balance? 3. During the past month, 900 trucks were sold. Richie sold four times as many as Dante. How many trucks did Richie sell, and how many trucks did Dante sell? 4. Ike buys a new computer priced at $650. He makes a down payment of 15%. How much of the pur- chase is not paid for? (Round to the nearest hundredth as needed.) 5. A stove has a list price of $%1,400. If the chain discount is 13/10/4, what's the net price? Also, what's 6. Assuming that markup is based on cost, solve for actual cost using the information below. Round the trade discount? your answer to the nearest cent. Selling price: $600 Markup on cost 35%

Explanation / Answer

Solution:-

Sub-Part 1

(a) Net sales:-

20,900 - 700 - 950 = 19,250.

Sub-Part 2

(b) Gross profit:-

19,250 - 7,600 = 11,650.

Sub-Part 3

(c) Total operating expense:-

1,288 + 1,650 + 2,900 + 900 = 6,738.

Sub-Part 4

(d) Net income:-

11,650 - 6,738 = 4,912.

Note:- As per chegg guidelines if more than four sub part is posted than we liable to answer only first four sub part.

Please Rate or comment if you have any doubt regarding this solution.

Related Questions

Navigate

• Browse (All)
• Browse 3
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.