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
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Determine Sales revenue for Merema Company with the following data: Cost of Goods Sold $1,680,000 Operating...
The accounting record for Katzen Company reported the following selected information: Operating Expenses $270,000 Sales Returns and Allowances 78,000 Sales Discounts 36,000 Sales Revenue 1,050,000 Cost of Goods Sold 402,000 Determine Katzen Company's gross profit. Select one: A. $462,000 B. $498,000 C. $534,000 D. $420,000
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
Cost of goods sold Based on the following data, determine the cost of goods sold for November: $14,500 Estimated returns of November sales Inventory, November 1 Inventory, November 30 Purchases Purchases returns and allowances Purchases discounts Freight in 28,000 31,500 475,000 15,000 9,000 7,000
A company reported the following: Cost of Goods sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances $200,000 10,000 4,900 16,000 18,000 240,000 3,600 3,500 What is the amount of gross profit?
A company reported the following: Cost of Goods Sold $ 290,000 Selling, and Administrative Expenses 9,000 Income Tax Expense 7,350 Inventory 13,500 Net Income 110,650 Sales Revenue 425,000 Sales Discounts 4,500 Sales Returns & Allowances 3,500 What is the amount of gross profit? A) $127,000 B) $119,650 C) $135,000 D) $118,000
Brief Exercise 5-10 Assume Kader Company has the following reported amounts: Sales revenue $510,000, Sales returns and allowances $15,000, Cost of goods sold $330,000, and Operating expenses $110,000. (a) Compute net sales. Net sales = $_______ (b) Compute gross profit. Gross profit = $_______ (c) Compute income from operations. Income from operations = $_______(d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.29.) Gross profit rate = $_______
1. Operating expenses include cost of goods sold. A) True B) False 2. For a merchandising company, the difference between net sales and operating expensesi. called gross margin. A) True B) False 3. Sales Returns and Allowances is described as a contra-revenue account. A) True B) False 4. Freight Out Expense is included in the cost of goods sold calculation. A) True B) False 5. General and administrative expenses are a category of operating expense. A) True B). False 6....
4-Financial information is presented below: Operating expenses $ 41000 Sales returns and allowances 5000 Sales discounts 9000 Sales revenue 162000 Cost of goods sold 93000 5-The amount of net sales on the income statement would be $157000. $153000. $148000. $162000. Financial information is presented below: Operating expenses $ 50000 Sales returns and allowances 4000 Sales discounts 7000 Sales revenue 160000 Cost of goods sold 94000 Gross Profit would be $55000. $70000. $66000. $62000.
1. Culver Corporation reported net sales $715,000, cost of goods sold $500,500, operating expenses $126,000, and net income $62,920. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to 0 decimal place, e.g. 10%.) Profit margin enter profit margin in percentages rounded to 2 decimal places % Gross profit rate enter gross profit rate in percentages rounded to 0 decimal % 2. Presented here are the components...
Presented below is information for Swifty Company for the month
of March 2020. Cost of goods sold $218,520 Rent expense $30,370
Freight-out 6,450 Sales discounts 7,050 Insurance expense 5,410
Sales returns and allowances 12,910 Salaries and wages expense
58,680 Sales revenue 386,090.
----> Compute the gross profit rate. (Round
answer to 2 decimal places, e.g. 25.20%.)
Gross profit rate
%
We were unable to transcribe this imageSWIFTY COMPANY Income Statement For the Month Ended March 31, 2020 Sales Sales Revenue...