Accounting From the following details, calculate net sales revenue.Sales revenue == $460,000Cost of goods sold = $300,000Operating expenses = $85,000Sales discounts = $20,000Sales returns and allowances = $15,000Interest revenue = $5,000a. $400,000b. $415,000c. $425,000d. $455,000

Step 1: Introduction to income statementIncome statement is referred to as the financial statement…

Answered: From the following details, calculate…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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What is Net sales revenue?
The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000
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Financial information is presented below: Operating expenses $ 50000; Sales returns and allowances 3000; Sales discounts 5000; Sales revenue 184000; Cost of goods sold 98000. Given the information, what would be the gross profit?
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From the following details, calculate net sales revenue. Sales revenue == $460,000 Cost of goods sold = $300,000 Operating expenses = $85,000 Sales discounts = $20,000 Sales returns and allowances = $15,000 Interest revenue = $5,000 a. $400,000 b. $415,000 c. $425,000 d. $455,000