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It means that 60% of sales and purchases are done on cash basis while 40% of purchases and sales are done on credit basis.

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A company's COGS was 4000 Determine net purchases and ending inventory given goods available for sale were 11000 and beginning inventory was 5000?

goods available for sales = beginning inventory + net purchases. So net purchases = 6000 Goods available for sale - ending inventory = COGS So ending inventory = 7000


If your taxable income is from 4000.00-7499.00 your tax is plus100 plus 5 percent of any amount 4500.00 then how much tax in dollars is due on a taxable income of 5800.00?

So you have 100 plus 5 percent of the amount over 4000. 2999 X .05 WOULD BE 120 PLUS THE 100 WOULD 220 CORRECT.


What is the journal entry of Goods lost by fire Rs 4000?

debit goods lost by fire 4000credit goods inventory 4000


What is the journal entry for January 4 purchase inventory of 4000 units at 8 per unit on account.?

The journal entry for the purchase of 4,000 units of inventory at $8 per unit on account would be recorded as follows: Debit Inventory $32,000 Credit Accounts Payable $32,000 This reflects an increase in inventory and a corresponding liability to pay the supplier.


What is the break even in units if a firm sells 20000 units at 40 each variable costs per unit are 10 and total fixed costs equal 120000?

1. Breakeven point = fixed cost/ contribution margin ratio contribution margin ratio: (sales - variable cost)/sales Sales = 20000 * 40 = 800000 Less: Variable cost = 20000 * 10 = 200000 Contribution margin = 600000 Contribution margin ratio = 600000/800000 = .75 Breakeven point in dollars = 120000/.75 = $160000 breakeven point in units = 160000 / 40 = 4000