Answered: If gross sales is P40,000, sales…

Name: If gross sales is P40,000, sales returns and allowances P1,000, sales
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Description: If gross sales is P40,000, sales returns and allowances P1,000, sales discounts P400, and delivery expenses P100, the net sales of the business will total

Business

Accounting

If gross sales is P40,000, sales returns and allowances P1,000, sales discounts P400, and delivery expenses P100, the net sales of the business will total

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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Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
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