# 62 for delivery expenses 203 for merchandise

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\$62 for delivery expenses, \$203 for merchandise inventory, and \$31 for miscellaneous expenses. The fund ha eipts at the end of the month. The entry to replenish the petty cash fund will include: t procedure is to: or \$272, how should this error be treated on the bank reconciliation? ollowing information: check. At the close of business on May 31, its Cash account shows a debit balance of \$29,525. Clayborn's Ma or \$510, how should this error be treated on the bank reconciliation?
ssets = Liabilities + Equity, is known as the: oes this transaction affect the accounting equation for Grandmark? nbiased evidence is: : Determine the statement below that is correct.
balance of \$750. The Adjustments columns shows a credit of \$425 for supplies used during the period. The a gin is: Its acid-test ratio equals: k because the ratios reveal no indication of liquidity problems. tio is 1.07. income was \$.8 million. Its gross margin ratio equals: ompany's gross margin and operating expenses, respectively, are: company's gross margin and operating expenses, respectively, are: worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals: nt. The freight charge, \$1,500 , was added to the invoice amount. On June 20, it returned \$2,400 of that merc it terms of 2 /10, n/30. The cost of the items sold is \$1,800 . Smart uses the perpetual inventory system and th
d 2) ending inventory at the end of Year 2 was overstated by \$7,100. Given this information, the correct cost o ventory of \$2,085 million. Its days' sales in inventory equals: (Use 365 days a year.) d 15 units at \$27 each. On November 6 they purchased 11 units at \$30 each. On November 8, 12 units were s nventory method. nd sales: es.) ays' sales uncollected equals: (Use 365 days a year.)
\$1,257. The correct entry to record the cash sales is ed. The accumulated receipts on that date represent \$94 for Office Supplies, \$179 for merchandise inventory, ount of \$500. The fund was last reimbursed on November 30. At the end of December, the fund contained th se the fund on December 31 will include: t. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company shou At the close of business on June 30, its Cash account shows a debit balance of \$70,209. Easton's June bank sta omparability.
ve been caused by: e as a debit of \$550. and a debit to Cash for \$750. atio is: ompany returned \$330 worth of merchandise and then paid the invoice within the 3% cash discount period. T ,270, cost of goods sold of \$385,700, and \$279,330 in operating expenses. Gross profit equals: were damaged by flood and are not sellable. Another 3,300 units were purchased from Markor Company, FO units at \$10 each. 26 units are sold on August 6. Using the FIFO perpetual inventory method, what amount wi
une 30 of: g the same year, then the change in equity of the company during the year must have been: July. million. Calculate its debt ratio. ,200. During the year, the company reported total revenues of \$93,000, total expenses of \$76,000 and divide ntries for the following: and. The general ledger balance before any adjustment is \$2,100. What is the adjusting entry for office suppli ave a useful life of 6 years and a salvage value of \$3,000. The company uses the straight-line method of depre
ndise. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash was entitled to. The cash paid on June 24 equals: that payment was made within the discount period, what is the net cost of the merchandise?
l be reported as cost of goods sold for the 23 units that were sold?