Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent received OMR 20000, Salaries OMR 10000, Insurance OMR 6000 and Depreciation OMR 8000. O a. OMR 56000 O b. OMR 64000 O c. OMR 60000 O d. OMR 70000

Q: Received R5000 from mamba for returned goods , invoice 33

A: Here's how this might typically be recorded:1. Record the Return of Goods:Debit: Sales Returns or…

Q: Calculate the allowed interest expense deduction under IRC 163j based on the following income…

A: Generally, taxpayers can deduct interest expense paid or accrued in the taxable year. However, if…

Q: AMOUNT REF# ACCT TITLES DEC 31 2020 1 ACCOUNTS PAYABLE 66,500 2 ACCUMULATED DEPRECIATION - EQUIPMENT…

A: Net Purchase=Purchase revenue-Purchase returns & allowances+Purchase…

Q: How do you find the profit margin when given this information?  Revenue: $1000 Expenses: $900…

A: Profit margin is the portion of sales that a company keeps after all costs are subtracted. It…

Q: Use the table for the ques Revenues -Cost of Goods Sold -Depreciation =EBIT -Taxes (30%) =Profit…

A: The discount rate that equates the cash stream's worth at present to the initial capital expenditure…

Q: F Question Viewer Cost of Goods Sold - Depreciation = EBIT - Taxes (20%) = Unlevered net income +…

A: Internal rate of return refers to the minimum percentage of return or the rate of return of the…

Q: Given the following information: Dividend Revenue Income tax expense Sales Returns and Allowances…

A: The income statement is one of the financial statements of the business. It tells about the…

Q: Net sales OR 156000 Cost of the goods sold OR 99700 Details Debit. Credit General expenses 11700…

A: Note:  As question does not exactly specify what to solve but framing of question is such that, Net…

Q: What is the fixed asset turnover for 2021? Multiple Choice 3.33 times 1.89 times 30 times

A: Fixed asset turnover is a financial ratio that measures the efficiency of a company's use of its…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.