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 100 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?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

The functional structure of the peripheral nervous system. (A) Afferent or sensory neurons carry sen The functional structure of the peripheral nervous system. (A) Afferent or sensory neurons carry sen
Children make a fast adjustment to a new culture, although, as with these Hmong children in ... Children make a fast adjustment to a new culture, although, as with these Hmong children in ...
How to find the anti-derivative of a function (Part 2) How to find the anti-derivative of a function (Part 2)
How to find the components of a vector found in the first quadrant How to find the components of a vector found in the first quadrant
Saving Rates by Income Quintile, 2003 Saving Rates by Income Quintile, 2003
To find derivative us the chain rule To find derivative us the chain rule
Video: Kidney Stones

For a complete list of videos, visit our video library