Sales revenueCost of goods soldSalaries and wages expenseDepreciation expenseDividend revenueUtilities expenseRent revenueInterest expenseSales returnsAdvertising expense13,000What is the amount of the Gross profit?120,000$60,00010,00020,0004,0008,00025,00012,00011,000

Introduction: Gross profit : Deduction of Cost of goods sold from Sales revenue derives the Gross…

Answered: Sales revenue Cost of goods sold…

Business

Accounting

Sales revenue Cost of goods sold Salaries and wages expense Depreciation expense 120,000 $ 60,000 10,000 20,000

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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Question

Sales revenue
Cost of goods sold
Salaries and wages expense
Depreciation expense
Dividend revenue
Utilities expense
Rent revenue
Interest expense
Sales returns
Advertising expense
13,000
What is the amount of the Gross profit?
120,000
$
60,000
10,000
20,000
4,000
8,000
25,000
12,000
11,000

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