Gross profit of Happy Joy Ride amounted to Php175,000. Net Sales is Php300,000, compute for cost of goods sold? 2. Joy Ride Company's salaries to sales agents amounted to Php10,000. Salaries of accountants amounted to Php20,000. No other expenses were incurred. How much is the company's general and administrative expense?

Gross profit of Happy Joy Ride amounted to Php175,000. Net Sales is Php300,000, compute for cost of goods sold? 2. Joy Ride Company's salaries to sales agents amounted to Php10,000. Salaries of accountants amounted to Php20,000. No other expenses were incurred. How much is the company's general and administrative expense?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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