ACCT 504 help A Guide to career/uophelp.com ACCT 504 help A Guide to career/uophelp.com | Page 58

Short-term Statement of stockholders' equity
C.
Short-term Income statement
D.
Long-term Balance sheet
Which statement is true?
A.
Discontinued operations are a separate category on the income statement.
B.
Extraordinary items are combined with continuing operations on the
income statement.
C.
Extraordinary items are part of discontinued operations.
Hazard Company had anan $18,000 beginning inventory and aa $25,000
ending inventory. Net sales ere
$153,000; purchases, $76,000; purchase returns and allowances, $3,000;
and freight in, $9,000. Cost of goods sold for the period is $75,000.What
is Hazard gross profit percentage (rounded to the nearest percentage)?
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ACCT 504 Week 4 Quiz