Sales 218,000                                               Gain on sale of equipment $ 6,290           epreciation expense—Office copier $ 530  Office supplies expense 620  Sales discounts 16,700 Insurance expense 1,380 Sales returns and allowances 3,900  TV advertising expense 3,800 Office salaries expense 31,100 Interest revenue 650  Rent expense—Selling space 11,600 Cost of goods sold 91,000   Sales staff wages 23,700 Sales commission expense 13,100 whats the total income profited

Q: Sheridan Company Crane Company Sales revenue $90,600 2$ Sales returns and allowances $ 5,000 Net…

A: Sales revenue=Net sales+Sales return Sales return=sales revenue-Net sales COGS=Net sales-Gross…

Q: Refer to the following given information. The cost of inventory sold to customer 220,000 Advertising…

A: Ratio analysis: Ratio analysis is a tool that establishes a relationship between the different…

Q: Sales revenue   $104,000   $enter a dollar amount  Sales returns and allowances   enter a dollar…

A: Sales returns and allowances = Sales revenue - Net sales Gross profit = Net sales - Cost of goods…

Q: Sales Revenue 750000 200 J Bryant, Ltd. is a local coat retailer. The store's accountant prepared…

A: Contribution margin can be considered in two ways: either deducting the sales revenue to variable…

Q: Sales 417,500 Cost of goods sold 210,000 Salaries expense 38,000 Depreciation expense- building…

A: solution concept single step income statement under single step income statement , income statement…

Q: Cost of sales Food and beverages $500,000 Shirts and caps $25,000 Other Expenses Administrative…

A: Operating statement is also termed as income statement where it shows the company's income…

Q: Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances…

A: Gross margin is the excess of revenue over the cost of goods sold and gross margin percentage is…

Q: Cost of goods sold $216,128 Rent expense $34,000 Freight-out 6,000 Sales discounts 8,000 Insurance…

A: Formula: Net income = Total revenues - Total expenses

Q: Profit and loss data for A Company and its branch for 2018 + follows: Home office Branch Sales…

A: Closing inventory of branch from HO at cost be C   C + 20% x C = 30000 Cost =25000 Total inventory…

Q: Sales $640,363 Merchandise Inventory $582,620 Sales discounts $58,040 Interest expense $3,677 Sales…

A: Gross margin is the excess of sales over cost of goods sold during the year.

Q: Make the single step statement of the followi Sales 417,500 Cost of goods sold 210,000 Salaries…

A: The income statement is prepared to record the revenues and expenses of the current period and…

Q: Gross sales $ 19,000 $ 15,000 Sales returns and allowances   1,000   100 Net sales $ 18,000 $ 14,900…

A: Given 2020 &2019 Current Assets Current assets:   2020   2019 Cash $ 12,000 $ 9,000…

Q: Calculate the amount of: (a)Cost of goods available for sale (b)Cost of goods sold during the year…

A: Introduction: The cost of goods sold refers to the direct costs of manufacturing the commodities…

Q: Make the single step statement of the follOWI Sales 417,500 Cost of goods sold 210,000 Salaries…

A: The income statement is prepared to record the revenues and expenses of the current period.

Q: Net sales $100,000 Cost of goods sold $30,000 Rent received $20,000 Salaries $10,000 Insurance…

A: Net Profit: The Net Profit is the amount, all receipts ( Sales & Rent Recieved ) less all…

Q: Office Today is an office supply store. Office Today’s revenue in the current year is $800…

A: Gross Profit: Difference between the sales and the cost of goods sold is called gross profit. Gross…

Q: Home Office Branch Sales P 256,000 P 78,500 Purchases from outsiders 210,000 20,000 Shipments to…

A: a. Mark up on purchase = (40,000 - 30,000)/40,000 = 25% of Billing price Inventory at cost on…

Q: Last Year Sales ​$208,000   ​$221,000   Cost of goods sold 106,000   116,000   Gross margin 102,000…

A: Ratio analysis can be used to obtain the information regarding performance of a company, department,…

Q: Accounts Receivable$   21,000 Cost of Goods Sold215,000 Selling Expenses (includes…

A: Multi-step income statement: It is the presentation of a normal income statement in a more detailed…

Q: Sales revenue $200,000 Cost of goods sold 119,000 Gross profit 81,000 Operating expenses (includes…

A: The cash flow statement shows the inflow and outflow of cash due to the operating, investing, and…

Q: Accounts Amount Total Sales Revenue Travel expense (salespersons) Insurance expenses Cost of goods…

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

Q: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685…

A: Times Interest Earned Ratio or TIE, measures the firm's ability to meet its debt obligations on a…

Q: Other Operating Sales Revenue Cost of Goods Sold Gross Profit Net Income Expenses Firm $125,000 $…

A: Income statement is prepared by the business organization so as to know how much amount of Gross…

Q: 00 Company has incurred the following costs during the current year: Cost of purchases based on…

A: Computation of cost of purchase Cost of purchase + trade discount on purchases already deducted from…

Q: Net sales 74,000 90,000 Cost of goods sold 51,800 Gross profit 28,800 Operating expenses 13,320 Net…

A: Formula: Gross profit = Net sales - Cost of goods sold

Q: SERVICE REMENUE Sales revenue, net Cost of goods sold Gross profit $ 281,000 120,000 161,000…

A: Net profit margin = Net profit / Revenue

Q: Sales $640,363 Merchandise Inventory $582,620 Sales discounts $58,040 Interest expense $3,677 Sales…

A: "Since you have posted a question with multiple sub- parts, we will solve only first three sub-…

Q: 301,000 129,000 217,000 93,000 Cost of goods sold Gross margin Selling and administrative expenses:…

A:

Q: Fit-for-Life Foods reports the following income statement accounts for the year ended December 31…

A: Multi-step income statement: The income statement represented in multi-steps with several subtotals,…

Q: Selling, general, and administrative expenses were $80,000; net sales were $390,000; interest…

A: Operating Income means earnings before Interest and Taxes (EBIT). It is the net operating income…

Q: Gross receipts from sales $ 670,000 Cost of goods sold (460,000) Operating expenses (96,800)…

A: Introduction: Ordinary income is defined as earned on a regular basis that is taxed at ordinary…

Q: Selling Expenses %24 11,500 Interest Revenue 1,900 Net Sales Revenue 122,000 Cost of Goods Sold…

A: An income statement is a financial statement that is prepared by the business organization, which…

Q: Cost of goods sold: $175,000   Investment income: $2,800   Net sales: $297,000   Operating expense:…

A: Retained earnings refer to the amount accumulated by the entity from its net income that can be used…

Q: Cost of Goods Sold $ 164,000 Income Tax Expense Merchandise Sales (gross revenue) for Cash 238,000…

A: Formula: Gross profit = ( Gross profit / net sales ) x 100

Q: Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense $168,000…

A: Horizontal analysis is an analysis carried out  horizontally between the line of times which is…

Q: Sales 460,000 Cost of goods sold 300,000 Operating expenses 85,000 Sales discounts 20,000 Sales…

A: Solution: Net sales = Sales - Sales discounts - sales return and allowances = 460000 - 20000 - 15000…

Q: prepare the income statement Total sales revenue = 500,000 Sales return = 1% of sales Trade…

A: An income statement is a statement of a business entity that shows the financial position during an…

Q: Sales Retums and Allowances $410,000 Sales Discount 140,000 Sales 1,500,000 Salaries Expenses -…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: SERVICE REVENUE $ 281,000 120,000 161,000 Sales revenue, net Cost of goods sold Gross profit…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: Selected transactions completed by Equinox Products Inc. during thefiscal year ended December 31,…

A: Journal entry refers to recording and classifying business transactions into the book of accounts…

Q: Make the single step statement of the following. Sales  417,500 Cost of goods sold 210,000…

A: Formula: Net Income = Total revenues - Total expenses.

Q: Sales . . . . . . . . . . . . . . . . . . . . . . . . $300,000 Sales returns . . . . . . . . . . . .…

A: Operating expenses are expenses incurred for the operation of the business. Cost of goods sold is…

Q: Interest expense = 36,000. Sales revenue = 2,195,000. Interest and dividends = 9,000. Selling…

A: Gross profit shows that income of the entity which it gets when the total net sale value of goods…

Q: Administrative Expenses $ 250,000 Building 1,025,000 Cash 97,000 Cost of Merchandise Sold 1,400,000…

A: Income statement records all the revenue and expenses and helps to determine net income of the…

Q: Sales Retums and Allowances $410,000 Sales Discount 140,000 Sales 1.500,000 Salaries Expenses -…

A: Cost of goods sold in the business means how much cost of goods has been sold in a particular year.…

Q: Use the following information (in thousands): Sales revenue ¥300,000 Gain on sale of equipment…

A: Income from operations can be defined the revenue that is generated directly from the production of…

Q: Sales Revenue $983,000 Cost of Goods Sold 489,000 Operating Expenses 243,000

A: Formula: Net income = Sales revenue - Cost of goods sold - Operating expenses

Q: Sales Revenue 275,000.00 Cost of Goods Sold Accounts Payable 100,000.00 7,500.00 9,000.00 Inventory…

A: The cash flow statement shows the company's cash inflow and cash outflow during the period. It…