Use this information for Train Corporation to answer the question that follow. The following financial information...

Question

Question

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Answer: $44,700

Explanation

Gross Profit for the rails division = Sales - Cost of Goods Sold

= $91,000 - $46,300

= $44,700

Add a comment

Answer 2

Similar Homework Help Questions

Use this information for Train Corporation to answer the question that follow. The following financial information...

Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Corporate Total Cost of goods sold Direct operating expenses $46,500 27,200 98,000 Locomotive Division $31,300 22,900 70,000 Sales Interest expense General overhead Income tax $2,200 19,200 4,500 The gross profit for the Rails Division is Oa. $51,500 b. $70,800 c. $24,300 d. $98,000
Use this information for Train Corporation to answer the question that follow. The following financial information...

Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $45,700 $31,800 Direct operating expenses 27,300 22,300 Sales 100,000 65,200 Interest expense $2,800 General overhead 18,100 Income tax 4,000 The income from operations for the Rails Division is a. $100,000 b. $72,700 c. $27,000 d. $54,300
The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $45,300 $31,000 Direct operating expenses 27,700 23,000 Sales 90,600 66,700 Interest expense $2,500 General overhead 18,700 Income tax 4,500 The gross profit for the Rails Division is a.$17,600 b.$62,900 c.$45,300 d.$90,600

Use this information for Train Corporation to answer the question that follow. The following financial informati...

Use this information for Train Corporation to answer the question that follow. The following financial informati r 31: on was summ Locomotive Division $29,300 22,000 67,300 Corporate Total $47,900 26,500 97,300 Direct operating expenses Sales Interest expense General overhead Income tax The gross profit for the Rails Division is O a. $22,900 $2,200 19,700 4,300 b. $49.400 Dc. $97,300 Od. $70,800
The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $47,200 $30,000 Direct operating expenses 27,000 22,100 Sales 98,100 69,600 Interest expense $2,000 General overhead 19,800 Income tax 4,000 The gross profit for the Rails Division is a.$50,900 b.$23,900 c.$71,100 d.$98,100
The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $45,700 $31,800 Direct operating expenses 26,600 22,300 Sales 97,200 69,900 Interest expense $2,700 General overhead 19,000 Income tax 4,400 The net income for Train Corporation is a. $73,800 b. $40,700 c. $14,600 d. $89,600

The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $45,100 $31,000 Direct operating expenses 26,300 22,100 Sales 95,400 66,000 Interest expense $2,600 General overhead 19,100 Income tax 4,100 The net income for Train Corporation is a.$72,200 b.$11,100 c.$36,900 d.$85,300
The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $46,100 $30,000 Direct operating expenses 27,800 22,900 Sales 91,300 65,600 Interest expense $2,400 General overhead 19,400 Income tax 4,500 The net income for Train Corporation is a.$3,800 b.$80,800 c.$30,100 d.$67,400
The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $46,000 $29,300 Direct operating expenses 27,600 21,700 Sales 94,900 67,900 Interest expense $2,900 General overhead 18,200 Income tax 4,300 The income from operations for the Rails Division is a.$94,900 b.$21,300 c.$67,300 d.$48,900

The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $46,800 $31,500 Direct operating expenses 26,900 20,900 Sales 99,900 66,300 Interest expense $2,700 General overhead 18,100 Income tax 4,400 The income from operations for the Rails Division is a. $53,100 b. $26,200 c. $73,000 d. $99,900

Use this information for Train Corporation to answer the question that follow. The following financial information...

Homework Answers