What was the amount of net sales and gross profit

Assignment Help Financial Accounting
Reference no: EM13510661

For the fiscal year, sales were $3,570,000, sales discounts were $320,000, sales returns and allowances were $240,000, and the cost of merchandise sold was $2,142,000. What was the amount of net sales and gross profit?

Reference no: EM13510661

Questions Cloud

Why is the critical path not the shortest path : Why is the critical path not the shortest path through a network, as some people tend to believe?
Obtain the angle through which the blade has turned : A circular saw blade 0.180m in diameter starts from rest. Find the angular acceleration and the angle through which the blade has turned in this time
What was the amount of net sales : For the fiscal year, sales were $4,125,800, sales discounts were $380,000, sales returns and allowances were $186,750, and the cost of merchandise sold was $2,475,500.
Using one of the ethical perspectives : 1. Using one of the ethical perspectives (Utilitarianism, Kants Categorical Imperative, Rawl's Fairness as Justice, etc) noted in week 2 discussion, defend or oppose the basis for high executive compensation.
What was the amount of net sales and gross profit : For the fiscal year, sales were $3,570,000, sales discounts were $320,000, sales returns and allowances were $240,000, and the cost of merchandise sold was $2,142,000. What was the amount of net sales and gross profit?
How long will the projectile be in the air : A projectile is right at the edge of a 85 meter tall building . it is then fired with an initial speed of 25m/s at an angle 25 degrees above the horizontal and lands on the ground. how long will the projectile be in the air
What was the amount of net sales : For the fiscal year, sales were $6,750,000, sales discounts were $120,000. sales return and allowances were $900,000, and the cost of merchandise sold was $4,000,000.
The global implementation of ifrs : Evaluate at least nine more academic journal articles related in some way to the one above, and to draw out a clear argument with a conclusion based upon the data considered.
Find the tension in string as it passes through the vertical : A small rock with mass 0.12 is fastened to a massless string with length 0.80 to form a pendulum, find the tension in the string as it passes through the vertical

Reviews

Write a Review

Financial Accounting Questions & Answers

  Company''s book balance of cash

Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31. 2005.

  Determine the fair presentation of ajax chemical balance

Evaluate the policies and procedures of the Food and Drug Administration in terms of bringing new drugs to market. Determine the fair presentation of Ajax Chemical’s balance sheet, income statement, and statement of cash flows.

  To forecast additional funds needed using afn equationcater

to forecast additional funds needed using afn equation.cater corporations sales are expected to increase from 5 million

  C1 the net present worth npw of tractor a to the nearest 10

c1. the net present worth npw of tractor a to the nearest 10 isa 2570 b 2590 c 3000 d none of these answers.c2. the net

  Describe the difference between the two companies

Write a brief (minimum 3 paragraphs) analysis and comparison of the income statement items and differences between the two. Be sure to explain why the common-size statement is helpful in this analysis.

  Evaluate the company''s break-even point

Compute the Break even  point - Evaluate the company's break-even point given the sales mix above?

  On 1st april 20x7 miller oil company purchased a pumping

on 1st april 20x7 miller oil company purchased a pumping truck. the sole consideration was a 100000 note due in one

  What is impact of this transaction on net operating income

ABC Company accepted a national credit card for a $3,000 purchase. The cost of the goods sold is $2,400. The credit card company charges a 3% fee. What is the impact of this transaction on net operating income?

  Calculation of break even sales in dollars.

Calculation of break even sales in dollars . Selling price per unit-$20 and total fixed expenses-$5,000

  1 your company purchases a different business at a bargain

1. your company purchases a different business at a bargain purchase properly accounted for as a business combination.

  How your proposal ultimately maximizes profits

From the first e-Activity, propose a short-term and long-term pricing strategy for the product or service you researched including how the strategies would be implemented. Assess how your proposal ultimately maximizes profits.

  Calculation of cash and cash equivalents with given

calculation of cash and cash equivalents with given information.as of december 31 2009 tulip company has 16920 cash in

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd