This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Use the following financial information to find the entry you would make on an income statement for ... (Read 151 times)

bio_gurl

  • Hero Member
  • *****
  • Posts: 524
on: Jun 24, 2018
Use the following financial information to find the entry you would make on an income statement for NET INCOME (LOSS) for the year ended December 31, 2011: Gross Sales, 123,000; Sales Returns and Allowances, 9,300; Sales Discounts, 8,700; Merchandise Inventory, January 1, 2011, 89,000; Merchandise inventory, December 31, 2011, 109,500; Net Purchases, 74,700; Freight In, 575; Salaries, 107,800; Rent, 20,100; Utilities, 1,425; Insurance, 2,250; and Income Tax, 15,900.
 A) 81,350
  B) 97,250
  C) (97,250)
  D) (15,900)

Question 2

Convert the decimal to a percent: .625


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fatboyy09

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

62.5


bio_gurl

  • Hero Member
  • *****
  • Posts: 524
Reply #2 on: Jun 24, 2018
Correct answers!


fatboyy09

  • Sr. Member
  • ****
  • Posts: 358
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

The flow of information in a eukaryotic cell The flow of information in a eukaryotic cell
Nursing student will find it funny Nursing student will find it funny
The risk of dying before the age of 65 gets lower as family income gets higher. The risk of dying before the age of 65 gets lower as family income gets higher.
Simultaneous Determination of Income and Modernization Simultaneous Determination of Income and Modernization
Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ... Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ...
Derive the following using the increment/delta method and find its slope Derive the following using the increment/delta method and find its slope
Video: Otitis Media

For a complete list of videos, visit our video library