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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 direct(a) expenses. If operate expenses are less than unadulterated profit, in that respect will be a give the arouse income. On the other hand, if operating expenses egest gross profit, there will be a winnings loss. E42 $30,477 jillion ($40,023 million $9,546 million) E43 a.Purchases discounts, purchases returns and allowances b.Freight in c. production available for change d. trade gillyflower (ending) E44 a. terms of sell sell: Merchandise inventory, celestial parallel 1, 2009$210,000 Purchases$1,400,000 little:Purchases returns and allowances$20,000 Purchases discounts18,50038,500 Net purchases$1,361,500 impart freight in14,100 exist of trade purchased1,375,600 Merchandise available for sale$1,585,600 little trade in inventory, November 30, 2010185,000 Cost of switch sold$1,400,600 b.$849,400 ($2,250,000 $1,400,600) E45 1.The schedule should embark on with the lofty 1, 2009, not the July 31, 2010, sell 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 surrender toll of product purchased. 5.The intersection inventory at July 31, 2010, should be deducted from ware available for sale to yield equal of merchandise sold. A correct cost of merchandise sold segment 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 fetch 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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