QUESTION 6A service-based company reports gross revenue of $125,000; sales discounts of $4,500; allowance for doubtful accounts of $6,000;operating expenses of $89,600; and a loss on sale of PP&E of $2,000. What is the company's net income after taxes assuming a taxrate of 20%?

Computation of Net Sales Gross revenue - sale discounts $125000 - $4500 $120500

QUESTION 6 1 A service-based company reports gross revenue of $125,000; sales discounts of $4,500; allowance for doubtful accounts of $6,000; pperating expenses of $89,600; and a loss on sale of PP&E of $2,000. What is the company's net income after taxes assuming a tax ate of 20%?

QUESTION 6 1 A service-based company reports gross revenue of $125,000; sales discounts of $4,500; allowance for doubtful accounts of $6,000; pperating expenses of $89,600; and a loss on sale of PP&E of $2,000. What is the company's net income after taxes assuming a tax ate of 20%?

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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