Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 6.00

accounts for merchandiser

Income statement and accounts for merchandiser

For the fiscal year, sales were $25,565,000 and the cost of merchandise sold was $15,400,000.

a.     What was the amount of gross profit?

b.    If total operating expenses were $4,550,000, could you determine net income?

c.     Is Customer Refunds Payable an asset, liability, or owner’s equity account and what is its normal balance?

d.    Is Estimated Returns Inventory an asset, liability, or owner’s equity account and what is its normal balance?

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 08:08 PM My Price 6.00

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