Page

Assignment

Check Figures

246

P5-1A

(b) Cost of goods sold, $206,000

247

P5-2A

Total debits to the Cost of Goods Sold account, $3,300; Total credits to the Cost of Goods Sold account, $150

247

P5-3A

(c) Gross profit, $2,870

(d) Total current assets, $15,870

248

P5-4A

(a) Net income, $14,900; Total assets, $103,100

248

P5-5A

(a) Net income, $7,230; Ending capital, $79,430; Total assets, $230,990

249

P5-7A

(a) Gross profit, $215,000; Net income, $40,000;

(b) Net income, $40,000

250

P5-8A

(a) Gross profit margin, 2000, 19.5%; 1999, 23.8%

250

*P5-9A

Total debits to the GST Recoverable account, $7,000; Total credits to the GST Recoverable account, $490

250

*P5-10A

(c) Trial balance column totals, $9,902.90

(d) Gross profit, $775

251

*P5-11A

(a) Adjusted trial balance column totals, $1,376,800

(b) Net income, $68,800; Ending capital, $326,600; Total assets, $418,100

(e) Post-closing trial balance column totals, $533,500

252

P5-1B

(b) Cost of goods sold, $214,000

252

P5-2B

Total debits to the Cost of Goods Sold account, $2,131; Total credits to the Cost of Goods Sold account, $75

253

P5-3B

(c) Gross profit, $3,430

(d) Total current assets, $11,130

253

P5-4B

(a) Net income, $8,050; Total assets, $264,000

254

P5-5B

(a) Net income, $11,600; Ending capital, $210,200; Total assets, $402,800

255

P5-7B

(a) Gross profit, $217,900; Net income, $53,450;

(b) Net income, $53,450

255

P5-8B

(a) Gross profit margin, 8 months ended December 31, 1999, 85.3%; Year ended April 30, 1999, 57.1%

256

*P5-9B

Total debits to the GST Recoverable account, $9,030; Total credits to the GST Recoverable account, $420

256

*P5-10B

(c) Trial balance column totals, $9,230.05

(d) Gross profit, $790

257

*P5-11B

(a) Adjusted trial balance column totals, $1,072,050

(b) Net loss, $10,850; Ending capital, $138,150; Total assets, $253,650

(e) Post-closing trial balance column totals, $298,900

258

BYP5-2

(b) Gross profit margin, 2000, 41%; 1999, 40%

259

BYP5-3

(a) Gross profit margin, Carrefour, 21.4%; Wal-Mart, 21.4%

(b) Current ratio, Carrefour, 1.22:1; Wal-Mart, 0.95:1

260

BYP5-5

(a) Net income, 1. $60,500; 2. $57,000

(c) Net income, $87,660