Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

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: 401 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 11.00

Sandra McLella

Sandra McLellan operates a clothing retail operation. She purchases all merchandise inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2010, 2011, 2012, and 2013.

 

2010

2011

2012

2013

Inventory (ending)

$16,000

$ 11,300

$ 16,400

$ 12,200

Accounts payable (ending)

17,000

      

Sales revenue

  

229,700

227,600

222,000

Purchases of merchandise

        

inventory on account

  

146,900

155,700

139,200

Cash payments to suppliers

  

135,900

159,000

127,000

 

Instructions

(a) Calculate cost of goods sold for each of the 2011, 2012, and 2013 fiscal years.

(b) Calculate the gross profit for each of the 2011, 2012, and 2013 fiscal years.

(c) Calculate the ending balance of accounts payable for each of the 2011, 2012, and\ 2013 fiscal years.

(d) The vice presidents of sales, marketing, production, and finance are discussing the company"s results with the CEO. They note that sales declined in fiscal 2013. They wonder whether that means that profitability, as measured by the gross profit rate, necessarily also declined. Explain, calculating the gross profit rate for each fiscal year to help support your answer.

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 10:07 PM My Price 11.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

Not Rated(0)