On October 4, 2013, JT Corporation had credit sales transactions of $ 3,200 from merchandise having cost $ 1,900. The entries to record the day’ s credit transactions include a
credit of $ 1,900 to Cost of Goods Sold. credit of $ 3,200 to Sales Revenue. debit of $ 1,900 to Inventory. debit of $ 3,200 to Inventory. 6- IFRS Multiple Choice Question 257 Comprehensive income under IFRS
excludes unrealized gains and losses included in net income, in contrast to GAAP.
includes unrealized gains and losses included in net income, similar to GAAP.
excludes unrealized gains and losses included in net income, similar to GAAP.
includes unrealized gains and losses included in net income, in contrast to GAAP
7- Multiple Choice Question 134
If a company has net sales of $ 700,000 and cost of goods sold of $ 490,000, the gross profit percentage is
30 %.