04_HW_work - Quick Study 4-1 1 2 3 4 5 6 7 8 9 10 Quick...

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Quick Study 4-1 1. 5. 9. 2. 6. 10. 3. 7. 4. 8. Quick Study 4-3 Mar 5 Mar 7 Mar 15 Quick Study 4-4 Apr 1 Apr 4 Apr 11
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Quick Study 4-5 (a) (b) (c) (d) Sales Sales discounts Net sales Cost of goods sold Gross profit Gross Margin Ratio Interpretation of gross margin ratio for case a: __________________________ ___________________________________________________________________ Quick Study 4-6 July 31 Quick Study 4-8 Acid-test ratio = _________________________ Explanation of acid-test ratio : __________________________________________ ____________________________________________________________________ 4-2
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Exercise 4-1 Apr 2 Apr 3 Apr 4 Apr 17 Apr 18 Apr 21 Apr 28 Exercise 4-2 1. Buyer – Taos Company Credit Purchase Cash Payment 2. Seller – Tucson Company Credit Sale
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2. (continued) Seller – Tucson Company Cash Collectio n 3. Amount borrowed to pay with discount Annual rate of interest Interest per year Interest per day ($2,347.40 / 365 days) Savings from discount taken
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04_HW_work - Quick Study 4-1 1 2 3 4 5 6 7 8 9 10 Quick...

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