Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The amount of net sales on the income statement would be
Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The amount of net sales on the income statement would be
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Financial information is presented below:
Operating expenses
$ 42,000
Sales returns and allowances
12,000
Sales discounts
3,000
Sales revenue
165,000
Cost of goods sold
96,000
The amount of net sales on the income statement would be](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F355bf11b-5c0a-464e-b00b-bafb8db11337%2F9a34acf0-b742-4c11-b0af-56708cbfddf5%2Fmsunud_processed.png&w=3840&q=75)
Transcribed Image Text:Financial information is presented below:
Operating expenses
$ 42,000
Sales returns and allowances
12,000
Sales discounts
3,000
Sales revenue
165,000
Cost of goods sold
96,000
The amount of net sales on the income statement would be
![The incorrect trial balance debit column is $68,700. During the period, a $1,000 debit to cash was posted as $100. What is the adjusted trial
balance total after this error is corrected.
O A.
$67,600
В.
$67,800
C.
$69,800
CAD. $69,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F355bf11b-5c0a-464e-b00b-bafb8db11337%2F9a34acf0-b742-4c11-b0af-56708cbfddf5%2Fjbyryl9_processed.png&w=3840&q=75)
Transcribed Image Text:The incorrect trial balance debit column is $68,700. During the period, a $1,000 debit to cash was posted as $100. What is the adjusted trial
balance total after this error is corrected.
O A.
$67,600
В.
$67,800
C.
$69,800
CAD. $69,600
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