Following Is a Random List of Some of the Accounts

question 2

Essay

Following is a random list of some of the accounts and their December 31, 2019, balances for Milita Merchandising. Milita Merchandising uses a periodic inventory system and all account balances are normal. $$\begin{array} { l r } \text { Purchases } & \$ 330,000 \\\text { Sales revenue } & 470,000 \\\text { Interest revenue } & 23,000 \\\text { Salary expense } & 45,000 \\\text { Freight in } & 17,000 \\\text { Purchase discounts } & 31,000 \\\text { Sales returns and allowances } & 40,000 \\\text { Interest expense } & 18,000 \\\text { Delivery expense } & 24,000 \\\text { Sales discounts } & 27,000 \\\text { Insurance expense } & 16,000 \\\text { Purchase returns and allowances } & 49,000 \\\text { R. Milita, Capital } & 35,000 \\\text { Utilities expense } & 14,000 \\\text { Amortization expense-equipment } & 10,000 \\\text { R. Milita, Withdrawals } & 18,000\end{array}$$ The beginning and ending amounts for inventory are $58,000 and $65,000, respectively.
Calculate the following for Milita Merchandising: $\begin{array}{llcc} \text { Net sales revenue } &\$\underline{\quad\quad} \\ \text { Net purchases} &\$\underline{\quad\quad}\\ \text { Cost of goods available for sale } &\$\underline{\quad\quad}\\ \text { Cost of goods sold} &\$\underline{\quad\quad}\\ \text {Gross margin } &\$\underline{\quad\quad}\\ \text { Operating income } &\$\underline{\quad\quad}\\ \text { Net income } &\$\underline{\quad\quad}\\\end{array}$

Explain the significance of the Peace of Augsburg and its impact on religious freedom within the Holy Roman Empire.

Understand the role and impact of new Catholic religious orders during the Catholic Reformation.

Recognize the socio-political implications of practices such as simony and the selling of indulgences.

Understand the effectiveness of various therapy approaches for treating generalized anxiety disorder.

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Definitions:

False Statement

A declaration that is untrue, misleading, or deceptive, often made with the intent to defraud or mislead.

Capital

Economic resources used in the production of goods and services, such as machinery, equipment, and buildings.

Consume Less

The action of reducing the amount of goods and services that individuals or societies use.

Residential Home Building

The process or business of creating new homes within residential areas, often involving construction firms, architects, and various contractors.