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Posted by on Wednesday, March 7, 2012 at 2:03pm.

Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2012:

1) Started the business by issuing common stock for $7,500 cash
2) Paid cash to purchase $5,000 of inventory
3) Sold inventory that cost $3,000 for $7,250 cash
4) Incurred and paid operating expenses, $250

  • accounting - , Thursday, February 4, 2016 at 8:16pm

    The gross margin for the year 2012= Sales - cost of sales

    Margin= $7250-$3000= $4250

  • accounting - , Monday, September 12, 2016 at 7:53pm

    1950

  • accounting - , Monday, September 26, 2016 at 5:24am

    4250

  • accounting - , Monday, October 17, 2016 at 5:06pm

    7250

  • accounting - , Thursday, February 9, 2017 at 7:31pm

    mmk

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