Answer:
THE ANSWER IS A
Explanation:
Valley Company's adjusted account balances from its general ledger on August 31, its fiscal year-end, follows. It
categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store
supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative.
Adjusted Account Balances
Merchandise inventory (ending)
Other (non-inventory) assets
Total liabilities
K. Valley, Capital
K. Valley, withdrawals
Sales
Sales discounts
Sales returns and allowances
Cost of goods sold
Sales salaries expense
Rent expense-Selling space
Store supplies expense
Advertising expense
office salaries expense
Rent expense-Office space
office supplies expense
Totals
Debit
$ 40,000
160,000
Invoice cost of merchandise purchases
Purchases discounts received
Purchases returns and allowances
Costs of transportation-in
8,000
4,186
18,058
105,665
37,483
12,859
3,283
23,256
34,200
3,283
1,094
$ 451,367
Credit
$ 46,200
131,567
273,600
$ 451,367
Beginning merchandise inventory was $32,280. Supplementary records of merchandising activities for the year
ended August 31 reveal the following itemized costs.
$ 117,600
2,470
5,645
3,900
Required:
1. Compute the company's net sales for the year.
2. Compute the company's total cost of merchandise purchased for the year.
4
3. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses,
and general and administrative expenses.
4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and
general and administrative expenses.
The cοmpany's net sales fοr the year = $79,126
The cοmpany's tοtal cοst οf merchandise purchased fοr the year = $178,865 , Net Operating Lοss $(143,997)
What is Net Operating Lοss?When a cοmpany's οperating expenses exceed its οperating revenues during a specific tax periοd, it incurs a net οperating lοss (NOL). At the end οf the day, it is a negative measure οf available pay that an οrganizatiοn might cοntinue tο future fiscal years tο cοunterbalance its available pay in thοse years.
Fοr instance, in the event that an οrganizatiοn causes wοrking cοsts οf $1 milliοn in a fiscal year, yet its wοrking incοmes are just $500,000, then, at that pοint, it has a NOL οf $500,000. Up tο a certain limit, which varies depending οn the tax laws in the natiοn in which the business is based, this NOL can be used tο reduce taxable incοme in subsequent years.
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question questionquestionquestionquestionquestionquestionquestionquestionquestion
Explanation:
what's the question I'm waiting to hear it
recommending additional items that complements a customers purchase
Recommending additional items that complement a customer's purchase is known as upselling. It is a sales technique used to increase the value of a sale by offering related or upgraded products that the customer may be interested in.
What is Upselling?
Upselling is a common sales tactic used by retailers and businesses to increase their revenue and improve customer satisfaction. By suggesting additional items that complement a customer's purchase, businesses can provide a better overall experience for the customer and potentially increase their future loyalty to the brand.
However, it is important to ensure that the additional items are genuinely beneficial to the customer and not simply an attempt to increase profits. When done correctly, upselling can be a win-win situation for both the business and the customer.
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complete question:
How can you effectively recommend additional items to complement a customer's purchase?
The following information relates to the Sunshine Co-operative for the year ended August 31, 2019:
Prepaid Insurance $800
Statutory Reserve Funds $11,000
Interest Receivable22,700
Furniture and Fittings (Less Accumulated 210,000 Depreciation) $ 210,000 Members' dues receivables $ 170,000 Share Capital $300,000
Cash at Bank $224,500
The following were also determined; a. Net Income for the current year amounted to $110,000 and Undistributed
Net Income from last year was $15,000.
b. 20% of Net Income is to be transferred to the Statutory Reserve and 2 1/2% to a Special Reserve.
c. Dividends declared and paid to members amounted to $36,000
An honorarium of $1,500 is owing to the Chairman of the Management Committee. You are required to:
(a) Prepare the Appropriation Account for the year ended August 31, 2019.
(b) Prepare the statement of financial position as at August 31, 2019.
Answer:
.
Explanation:
.