AccountsAmountTotal Sales RevenueTravel expense (salespersons)Insurance expensesCost of goods soldSales commissionsSales salaries1,578,50010,0006,000896,770100,000100,00062,30030%13,52018,00031,15038,0008,78530,000Sales returnsTax rateDepreciation of office furniture and equipmentinterest expenseSales discountsDividend revenueDelivery expenseDepreciation of sales equipmentGross Profit??

Gross profit: The gross profit is the amount left after subtracting the cost of goods sold from the…

Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 30% 13,520 18,000 31.150 Sales commissions Sales salaries Sales returns Tax rate Depreciation of office furniture and equipment interest expense Sales discounts

Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods sold 1,578,500 10,000 6,000 896,770 100,000 100,000 62,300 30% 13,520 18,000 31.150 Sales commissions Sales salaries Sales returns Tax rate Depreciation of office furniture and equipment interest expense Sales discounts

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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