15. Sales revenueP480,000Cost of goods soldSales discounts300,00020,00015,000Sales returns and allowancesOperating expenses85,000Interest revenue5,000A.What is net sales revenue?a.P400,000b. P445,000P415,000d. P455,000с.B.What is gross margin?а. Р145,000b. P105,000C. P140,000d. P90,000

Net Sales means sales revenue after deducting all the sales discounts and sales returns, allowances…

15. Sales revenue Cost of goods sold Sales discounts P480,000 300,000 20,000 15,000 Sales returns and allowances Operating expenses Interest revenue 85,000 5,000 A.What is net sales revenue? a. P400,000 b. P445,000 c. P415,000 d. P455,000 С. B.What is gross margin? a. P145,000 b. P105,000 C. P140,000 d. P90,000

15. Sales revenue Cost of goods sold Sales discounts P480,000 300,000 20,000 15,000 Sales returns and allowances Operating expenses Interest revenue 85,000 5,000 A.What is net sales revenue? a. P400,000 b. P445,000 c. P415,000 d. P455,000 С. B.What is gross margin? a. P145,000 b. P105,000 C. P140,000 d. P90,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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