Answer C. OPERATING ACTIVITIES
A production supervisor who keeps track of cost of goods sold and sales revenue is concerned with Operating activities
These are the core business activities such as manufacturing distribution ans marketing and sale of products or services
Q 1.204: A production supervisor who keeps track of cost of goods sold and sales revenue...
1) On the income statement, sales revenue minus cost of goods sold equals? A) Net Income B) Total Operating Expense C) Income Tax D) Gross Profit 2) The statement of shareholders equity reports changes over for common stock, additional paid in capital (or contributed in excess of par) and A) Retained earnings B) Cash C) Cash flows from operating activities D) accounts payable 3) A firm reports $20 of income before tax expenses and $6 of income tax expense had...
Sales revenue for XYZ Company is $1,000,000. The cost of goods sold is S450,000 and the operating expenses are S250,000. Interest revenue for the company is S100,000 and the interest expenses are $50,000. The minimum required rate of return is 15% and cost of operating assets $1,500,000. What is the residual income for XYZ Company? a. S125,000 b. $175,000 c.$100,000 d. $75,000 Answer Attempt LaterSubmit
Forever uses the p a rty system OA Sales Revenue Cost of Goods Sold Sales Revenue OC. Sales Revenue Account Rece ODA Sales Revenge Refer to the following trial balance Credit Accounts Receivable Merchandise Inventory Supplies Debit $15.000 41000 61.000 18.000 330,000 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends 315.000 22.000 3.000 3.000 A3245.000 OB. 599.000 C5107 000 OD S102.000 Cick to select your answer 25,000 315.000 22,000 3,000 455.000 Notes Payable Common Stock Retained Earnings Dividends Sales...
Cost of goods sold is usually 70 percent of sales revenue, and selling and administrative expenses are usually 10 percent of sales plus a fixed cost of $79,000. The president has announced that the company's goal is to increase net income by 15 percent. Required The following items are independent of each other a. Prepare a pro forma income statement. What percentage increase in sales would enable the company to reach its goal? b. The market may become stagnant next...
Determine Sales revenue for Merema Company with the following data: Cost of Goods Sold $1,680,000 Operating Expenses 420,000 Sales Discounts 30,000 Sales Returns and Allowances 195,000 Net Income 510,000 Select one: A. $2,385,000 B. $2,835 000 C. $2,445,000 D. $2,775,000
Operating income equals: A) Gross margin - selling expenses B) Sales revenue - cost of goods sold C) Sales revenue - selling and administrative expenses D) Sales revenue - cost of goods sold - selling and administrative expense
Sales revenue $7,541,400 Cost of goods sold Beginning inventory $1,949,500 Purchases 4,316,100 Goods available for sale 6,265,600 Ending inventory 1,452,600 Total cost of goods sold 4,813,000 Gross profit 2,728,400 Operating expenses 1,193,200 Net income $1,535,200 Additional information: 1. Accounts receivable increased $204,800 during the year, and inventory decreased $496,900. 2. Prepaid expenses increased $165,400 during the year. 3. Accounts payable to suppliers of merchandise decreased $338,800 during the year. 4. Accrued expenses payable decreased $101,700 during the year. 5. Operating...
The following information relates to Nebula, Inc. Sales Revenue $240,000 Cost of Goods Sold 150,000 Interest Revenue 10,000 Operating Expenses 40,000 Sales Discounts 20,000 Sales Returns and Allowances 7000 Calculate the operating income. Group of answer choices $23,000 $80,000 $33,000 $240,000
Which statement is TRUE? A. The excess of sales revenue over cost of goods sold is called gross profit because operating expenses have not yet been subtracted. B. Most companies in the United States follow International Financial Reporting Standards O C. Most businesses use the periodic inventory system. O D. Most companies use the specific identification method.
A company has sales revenue of $225.000, cost of goods sold 595,000, operating expenses of $56,000, and other expenses of $3,000. The company's operating income is O A $39,000 OB. 5127,000 OC. 571,000 OD. 574.000