Please answer competely - The following information extracted from Best Company accounts:Income tax expenses $2000Selling expenses S4000Cost of goods sold $13000Administrative expenses $2500Interest expenses $1000Net sales revenues $30000Rent revenue $3000The income from operation is:O A. $12500OB.S10500s17000OD.S13500 -The following information extracted from Flower Company accounts:Administrative expenses $2500Interest expenses $1000Net sales revenues $20000Rent revenue $3000Income tax expenses $2000Selling expenses $4000Cost of goods sold $8000The income before income tax is:O A.$7500O B.$5500O C. $8500OD.$12000

Name: Please answer competely - The following information extracted from Bes
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Please answer competely - The following information extracted from Best Company accounts:Income tax expenses $2000Selling expenses S4000Cost of goods sold $13000Administrative expenses $2500Interest expenses $1000Net sales revenues $30000Rent revenue

Lets understand requirement in brief. Income from operation means a income from normal trade and…

Business

Accounting

- The following information extracted from Best Company accounts: Income tax expenses $2000 Selling expenses $4000 Cost of goods sold S13000 Administrative expenses $2500 Interest expenses $1000 Net sales revenues $30000 Rent revenue $3000 The income from operation is: O A. S12500 В. S10500 OC. S17000 OD:S13500

- The following information extracted from Best Company accounts: Income tax expenses $2000 Selling expenses $4000 Cost of goods sold S13000 Administrative expenses $2500 Interest expenses $1000 Net sales revenues $30000 Rent revenue $3000 The income from operation is: O A. S12500 В. S10500 OC. S17000 OD:S13500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Financial information is presented below: Operating expenses $ 33000 Sales revenue 211000 Cost of goods sold 129000 Gross profit would be $178000. $ 82000. $ 33000. $ 49000.
Financial information is presented below: Operating expenses $ 60000 Sales returns and allowances 5000 Sales discounts 8000 Sales revenue 142000 Cost of goods sold 110000 Gross Profit would be a.) $19000. b.) $27000. c.) $32000. d.) $37000.
Financial information is presented below: Operating expenses $ 55000 Sales returns and allowances 3000 Sales discounts 9000 Sales revenue 200000 Cost of goods sold 89000 The amount of net sales on the income statement would be a.) $188000. b.) $191000. c.) $197000. d.) $200000.
Financial information is presented below: Operating expenses $ 50000 Sales returns and allowances 3000 Sales discounts 5000 Sales revenue 184000 Cost of goods sold 98000 Gross Profit would be $78000. $89000. $83000. $86000.
The income statement of Cooper, Inc. includes the items listed below: Net sales $900,000 Gross profit 320,000 Beginning inventory 80,000 Purchase discounts 15,000 Purchase returns and allowances 8,000 Freight-in 10,000 Operating expenses 300,000 Purchases 540,000 Use the appropriate items listed above as a basis for determining: 58000060700027000517000320000 Cost of goods sold. 58000060700027000517000320000 Cost of goods available for sale. 58000060700027000517000320000 Ending inventory
Pharoah Company had the following account balances: Sales revenue $ 447000 Cost of goods sold 210000 Salaries and wages expense 30500 Depreciation expense 59500 Dividend revenue 10000 Utilities expense 22000 Rent revenue 58500 Interest expense 35500 Sales returns and allow. 33500 Advertising expense 38000 What would Pharoah report as total expenses in a single-step income statement? $429k $185500 $405500 $395500
Financial information is presented below: Operating expenses $ 48000 Sales returns and allowances 6000 Sales discounts 7000 Sales revenue 140000 Cost of goods sold 88000 The amount of net sales on the income statement would be $127000. $134000. $133000. $140000.
How to compute this problem? Problem:The data shown below were obtained from the financial records of the BST Corporation for the year ended December 31, 2020. Sound Break CorporationIncome and Retained Earnings StatementFor the year Ended December 31, 2020Net Sales P1,000,000Cost of Goods Sold:Inventory, Dec. 31, 2019 P250,000Purchases 720,000Total Goods Available P970,000Inventory 220,000 750,000Gross Margin on Sales P 250,000Selling and Administrative (including Depreciation of P20,000) 125,000Net Income before Tax P 125,000Provision for Income Tax 35,000Net Income for the Year P 90,000Retained Earnings, beginning 130,000Total P 220,000Dividends Paid 30,000Retained Earnings, December 31, 2020 P 190,000 Sound Break CorporationBALANCE SHEETDecember 31, 2019 and 2020 ASSETS 2019 2020Current Assets:Cash P 75,000 P 85,000Marketable Securities 25,000 25,000Trade Receivables, net 185,000 245,000Inventory, at cost 250,000 220,000Prepaid Expenses 15,000 10,000Total Current Assets…
Prepare a horizontal analysis of the following excerpt of an income statement. Eye Witness Security GmbH Income Statement 2012 2011 Net sales €540.400 €573.000 Cost of goods sold 130.300 165.800 Gross profit (loss) 410.100 407.200 Operating expenses 264.900 205.100 Net income (loss) €145.200 €202.100
Financial Information for the Diaz Corp. is presented below: Operating expenses-45000 sales returns and allowances-4000 Allowance for doubtful accounts-300 sales discounts-7000 purchase allowances-14000 sales revenue-150000 cost of goods sold-96000 What amount of net sales should be reported on the company's income statement?
Financial information for Sandhill Company is presented below: Operating Expenses $ 59000Net Sales 250000Cost of Goods Sold 137000 The gross profit rate would be 0.216.0.452.0.548.0.784.
Determine the missing elements of the Income Statement. Replace the letters with your answers.The partial income statements of five different companies are as follows: 12345 Net SalesAD250,000290,000400,000 Merchandise Inventory, 1/1/2020B50,00070,000J120,000 Net Cost of Purchases80,000EG160,000390,000 Goods Available for Sale110,000160,000HKM Merchandise Inventory, 1/1/202040,000F30,00070,000N Cost of Goods SoldC140,000230,000L380,000 Gross Profit50,00040,000I160,000O