Gross Profit During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost of the merchandise sold is $1,014,300. What is the amount of the gross profit?

Q: During the current year, merchandise is sold for $366, 100 cash and $1,420,000 on account. The cost…

A: Gross Profit is defined as the profit which the company makes after subtracting the costs linked…

Q: During the current year merchandise is sold for 45,870,000. The cost of the merchandise sold is…

A: Gross Profit is one of the components of the profit and loss statement of your business. It is the…

Q: During the current year, merchandise is sold for $145,500 cash and $609,300 on account. The cost of…

A: A. Gross profit = Sales - Cost of goods sold = $6,400,000 - $5,376,000 = $1,024,000 B. Gross profit…

Q: During the current year, merchandise is sold for 86,000 cash and 93,950 on account. The cost of the…

A: Sale means when the goods are sold to an outsider . Cost means the amount which is paid by business…

Q: What is the amount of gross profit?

A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…

Q: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The coset of…

A: Gross profit: Gross profit can be defined as the profit generated from deducting the cost of goods…

Q: During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost…

A: Revenue (Cash) = 366,100 Revenue (Credit) = 1,420,000 Total Revenue = Cash Revenue + Credit Revenue…

Q: During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost…

A: Gross profit can be defined as the excess of net sales revenue over the cost of goods sold. Gross…

Q: During the current year merchandise is sold for $95,500 cash and $1,315,000 on account. The cost of…

A: Sales = Cash Sales + Credit Sales Sales = $95,500 + $1,315,000 Sales = $1,410,500

Q: During the current year, merchandise is sold for $98,300 cash and $644,900 on account. The cost of…

A: Calculate the amount of net sales.

Q: During the current year, merchandise is sold for $56,600 cash and for $87,400 on account. The cost…

A: Gross profit: Difference between the sales and the cost of goods sold is called gross profit. Gross…

Q: During the current year, merchandise is sold for $54,400 cash and for $81,400 on account. The cost…

A: The difference between the net sales and cost of goods is called Gross profit. Total sales are…

Q: During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: During the current year, merchandise is sold for $56,800 cash and for $85,600 on account. The cost…

A: Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…

Q: During the current year, merchandise is sold for $21,100 cash and $341,700 on account. The cost of…

A: Gross profit is calculated by deducting the cost of sales from the total sales value. The gross…

Q: Gross Profit During the current year, merchandise is sold for $21,100 cash and $341,700 on account.…

A: Gross profit is calculated by deducting the cost of sales from the total sales value. The gross…

Q: During the current year, merchandise is sold for $104,100 cash and $545,000 on account. The cost of…

A: Gross profit is the profit a business makes after subtracting all the costs that are related to…

Q: Gross Profit During the current year, merchandise is sold for $140,400 cash and $588,600 on…

A: The cash or profit that is still available after production costs are deducted from sales is known…

Q: During the current year, merchandise is sold for $141,000 cash and $615,200 on account. The cost of…

A: COST OF GOODS SOLD  Cost of goods sold is the carrying value of goods sold during a particular…

Q: During the current year, merchandise is sold for $53,200 cash and for $81,600 on account. The cost…

A: Gross profit is the profit after deducting the cost incurred to produce the products or render the…

Q: is sold for $173,900 cash and $467,700

A: Gross profit represents the revenue after the deduction of cost of goods sold from the net sales of…

Q: During the current year, merchandise is sold for $158,900 cash and $434,900 on account. The cost of…

A: Gross profit = Total sales - Cost of merchandise sold.

Q: During the current year, merchandise is sold for $50,940 cash and for $83,900 on account. The cost…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: During the current year, merchandise is sold for $117,500 cash and $241,750 on account. The cost of…

A: Working Notes: 1. Total Sales of current year = Cash Sales of current year + Credit Sales of current…

Q: Gross Profit During the current year, merchandise is sold for $ 137,900 cash and $ 435,200 on…

A: The question is based on the concept of Cost Accounting. Sales are the most important part of the…

Q: During the current year, merchandise is sold for $60,300 cash and for $87,600 on account. The cost…

A:

Q: During the current year, merchandise is sold for $54,900 cash and for $80,900 on account. The cost…

A: Gross profit refers to that part of the profit of the company that it makes after subtracting the…

Q: During the current year, merchandise is sold for $135,800 cash and $406,300 on account. The cost of…

A: Gross profit is considered as the difference between total sale and cost of goods sold.In simple…