Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
H3Ko H3Ko
wrote...
Go to Answer
Posts: 4891
Rep: 45 0
7 years ago
Partial income statements of Company A and Company B are provided below:

Company A
Revenue      $80,000
Expenses:      
Utilities Expense   $5,000   
Salaries Expense   15,000   
Rent Expense   3,2000   
Total Expenses      23,700
Operating Income       $56,300

Company B
Revenue      $50,000
Cost of Goods Sold:      
Beginning Merchandise Inventory   $4,000   
Purchases and Freight In   23,000   
Ending Merchandise Inventory   (5,500 )   
Cost of Goods Sold      21,500
Gross Profit      $28,500

Which of the following statements is true?
A) Company A is a manufacturing company.
B) Company A is a merchandising company.
C) Company B is a manufacturing company.
D) Company A is a service company.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 293 times
2 Replies
Replies
Answer verified by a subject expert
.unplugged..unplugged.
wrote...
#1
Top Poster
Posts: 1272
Rep: 267 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

H3Ko Author
wrote...
#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1272 People Browsing
 124 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 314
  
 342
  
 222
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 352
Previous poll results: Do you believe in global warming?