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To arrive at net sales: ().
A.Add sales discounts to sales.
B.Subtract the cost of goods sold from the sales pric
C.Subtract sales returns and sales discounts from sales.
D.Subtract accounts receivable from sales.
A.Add sales discounts to sales.
B.Subtract the cost of goods sold from the sales pric
C.Subtract sales returns and sales discounts from sales.
D.Subtract accounts receivable from sales.
A、Dividing accounts receivable by net sales.
B、Dividing accounts receivable by net sales and multiplying by 365.
C、Dividing net sales by accounts receivable.
D、Dividing net sales by accounts receivable and multiplying by 365.
E、Multiplying net sales by accounts receivable and dividing by 365.
A、Revenues divided by net sales.
B、Net sales divided by assets.
C、Net income divided by net sales.
D、Net income divided by assets.
E、Net sales divided by net income.
A、$1,800 receivable
B、$2,000 receivable
C、$1,800 payable
D、$2,000 payable
A、Net income
B、Net sales
C、Operating income
D、Net profit
Business is registered for sales tax and the rate of sales tax is 20%. In August 20X7 a company sold goods at standard sales tax rate with a net value of $230,000 and goods at zero sales tax rate with a net value of $10,000. The net purchases in August 20X7, which were all subject to sales tax, were $145,000. There is an opening credit balance of $24,000 on the sales tax control account. Payments of $18,000 were made to the tax authorities during the period. What is the closing liability on the sales tax account at the end of the period?
A、$42,167
B、$23,000
C、$31,167
D、$16,625
A、net sales revenue
B、sales discount
C、non-operating item
D、sales allowance
Please calculate the Gross profit and Net income. Net Sales $20,000,000 Cost of Goods Sold 16,000,000 Gross Profit $4,000,000 Selling Expense $1,500,000 General &Administrative Expenses 1,000,000 Total Operating Expenses 2,500,000 Earnings before Interest and Taxes() 300,000 Net Income $700,000
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