Presented below are the information taken from the books of NMIXX Co 2022 2023 Sales Regular P 125,000 P187,500 Installment 62,500 100 000 Cost of goods sold: Regular 75.000 112,500 Installment 31.250 45,000 Selling expenses 25,000 31,250 Collection on accounts from Regular sales 100,000 137.500 installment sales-2022 $7.500 25,000 Installment sales-2023 62.500 How much is the Realized gross profit in installment and net income for the year 2023?

Presented below are the information taken from the books of NMIXX Co 2022 2023 Sales Regular P 125,000 P187,500 Installment 62,500 100 000 Cost of goods sold: Regular 75.000 112,500 Installment 31.250 45,000 Selling expenses 25,000 31,250 Collection on accounts from Regular sales 100,000 137.500 installment sales-2022 $7.500 25,000 Installment sales-2023 62.500 How much is the Realized gross profit in installment and net income for the year 2023?

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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