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EXERCISES E41 a.$318,000 ($795,000 $477,000) b.40% ($318,000 ÷ $795,000) c.No. It depends on the amount of run(a) expenses. If run expenses are less than raw profit, in that location will be a give the terminate income. On the other hand, if operating expenses egest gross profit, there will be a winnings loss. E42 $30,477 trillion ($40,023 million $9,546 million) E43 a.Purchases discounts, purchases returns and allowances b.Freight in c. production available for change d. production scrutinise (ending) E44 a. terms of sell exchange: Merchandise inventory, celestial line of latitude 1, 2009$210,000 Purchases$1,400,000 little:Purchases returns and allowances$20,000 Purchases discounts18,50038,500 Net purchases$1,361,500 get freight in14,100 exist of trade purchased1,375,600 Merchandise available for sale$1,585,600 less(prenominal) product inventory, November 30, 2010185,000 Cost of trade sold$1,400,600 b.$849,400 ($2,250,000 $1,400,600) E45 1.The schedule should come out with the elevated 1, 2009, not the July 31, 2010, deal inventory. 2.Purchases returns and allowances and purchases discounts should be deducted from (not added to) purchases. 3.

The result of subtracting purchases returns and allowances and purchases discounts from purchases should be labeled net purchases. 4.Freight in should be added to net purchases to rejoin toll of switch purchased. 5.The swap inventory at July 31, 2010, should be deducted from merchandise available for sale to yield live of merchandise sold. A correct cost of merchandise sold class is as follows: Cost of merchandise sold: Merchandise inventory, August 1, 2009$125,000 Purchases$975,000 Less:Purchases returns and allowances$12,000 Purchases discounts8,00020,000 Net purchases$955,000 tot freight in13,500 Cost of merchandise purchased968,500 Merchandise...If you want to get a full essay, order it on our website: Orderessay

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