Ranns Supply uses a perpetual inventory system. On January 1, its inventory account had a beginning balance of 6,450,000. Ranns engaged in the following transactions during the year:.
1. Purchased merchandise inventory for 9,500,000
2. Generated net sales of 26,000,000
3. Recorded inventory shrinkage of 10,000 after taking a physical inventory at year-end
4. Reported gross profit for the year of 15,000,000 in its income statement
A. At what amount was Cost of Goods Sold reported in the company's year-end income statement?
B. At what amount was Merchandise Inventory reported in the company's year-end balance sheet?
C. Immediately prior to recording inventory shrinkage at the end of the year, what was the balance of the Cost of Goods Sold account? What was the balance of the Merchandise Inventory account?

Which of the following pairs is most similar to each other?

Symantec corp., located in cupertino, california, is one of the world's largest producers of security and systems management software. the company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following ($ in thousands): current assets: receivables, less allowances of $21,766 in 2009 and $24,089 in 2008 $ 838,010 $ 758,700 a disclosure note accompanying the financial statements reported the following ($ in thousands): year ended 2009 2008 (in thousands) trade accounts receivable, net: receivables $ 859,776 $ 782,789 less: allowance for doubtful accounts (8,938) (8,990) less: reserve for product returns (12,828) (15,099) trade accounts receivable, net: $ 838,010 $ 758,700 assume that the company reported bad debt expense in 2009 of $2,000 and had products returned for credit totaling $3,230 (sales price). net sales for 2009 were $6,174,800 (all numbers in thousands).required: what is the amount of accounts receivable due from customers at the end of 2009 and 2008? what amount of accounts receivable did symentec write off during 2009? what is the amount of symentec’s gross sales for the 2009 fiscal year? assuming that all sales are made on a credit basis, what is the amount of cash symentec collected from customers during the 2009 fiscal year?

How could brian, who doesn't want his car insurance premiums to increase, show he poses a low risk to his insurance company? a: drive safely to avoid accidents and traffic citations b: wash and wax his car regularly to keep it clean c: allow unlicensed drivers to drive carelessly in his car d: incur driver's license points from breaking driving laws