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

Author Question: Joe's Kites is preparing an income statement. Net sales equal 175,000 . Returns and allowances equal ... (Read 130 times)

jc611

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
Joe's Kites is preparing an income statement. Net sales equal 175,000 . Returns and allowances equal 16,000 . Costs of goods sold equal 95,000 . What is Joe's gross margin?
 a. 64,000
  b. 80,000
  c. 96,000
  d. 159,000
  e. 191,000

Question 2

_____ is the cost of merchandise that has been sold during the period.
 a. Gross sales
  b. Operating margin
  c. Cost of goods sold
  d. Gross margin
  e. Net sales


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kthug

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


jc611

  • Hero Member
  • *****
  • Posts: 552
Reply #2 on: Jun 29, 2018
Thank you


kthug

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

The strange situation. The Strange Situation features a series of episodes in which (a) the mother l The strange situation. The Strange Situation features a series of episodes in which (a) the mother l
Preparing Slides Preparing Slides
Sources of income for U.S. population aged 65 and over. Sources of income for U.S. population aged 65 and over.
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
Relationship Between Income per Capita and Population Growth Relationship Between Income per Capita and Population Growth
Preparing Canapés ( 1 of 5) Preparing Canapés ( 1 of 5)
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library