Financial Information for the Diaz Corp. is presented below: Operating expenses-45000 sales returns and allowances-4000 Allowance for doubtful accounts-300 sales discounts-7000 purchase allowances-14000 sales revenue-150000 cost of goods sold-96000 What amount of net sales should be reported on the company's income statement?
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Financial Information for the Diaz Corp. is presented below: Operating expenses-45000 sales returns and allowances-4000 Allowance for doubtful accounts-300 sales discounts-7000 purchase allowances-14000 sales revenue-150000 cost of goods sold-96000 What amount of net sales should be reported on the company's income statement?
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- The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)Presented below are certain account balances of Novak Products Co. Rent revenue $7,170 Sales discounts $8,240 Interest expense 13,450 Selling expenses 99,740 Beginning retained earnings 114,990 Sales revenue 401,100 Ending retained earnings 134,490 Income tax expense 26,796 Dividend revenue 71,710 Cost of goods sold 166,306 Sales returns and allowances 12,750 Administrative expenses 84,010 Allocation to noncontrolling interest 20,840 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Novak has allocation to noncontrolling interest of $20,840. (a) Total net revenue ($enter total net revenue in dollars) (b) Net income ($enter net income in dollars) (c) Income attributable to controlling stockholders ($enter income attributable to controlling stockholders in dollars)
- Presented below are certain account balances of Splish Products Co. Rent revenue $6,810 Sales discounts $8,080 Interest expense 13,280 Selling expenses 99,900 Beginning retained earnings 114,710 Sales revenue 404,200 Ending retained earnings 134,920 Income tax expense 26,028 Dividend revenue 71,170 Cost of goods sold 200,378 Sales returns and allowances 12,960 Administrative expenses 79,380 Allocation to noncontrolling interest 20,680 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Splish has allocation to noncontrolling interest of $20,680. (a) Total net revenue $enter total net revenue in dollars (b) Net income $enter net income in dollars (c) Income attributable to controlling stockholders $enter income attributable to controlling stockholders in dollarsPresented below are certain account balances of Wildhorse Products Co. Rent revenue $6,540 Sales discounts $7,830 Interest expense 13,260 Selling expenses 99,710 Beginning retained earnings 114,930 Sales revenue 402,000 Ending retained earnings 134,950 Income tax expense 28,702 Dividend revenue 72,000 Cost of goods sold 188,417 Sales returns and allowances 12,740 Administrative expenses 80,660 Allocation to noncontrolling interest 19,720 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Wildhorse has allocation to noncontrolling interest of $19,720. (a) Total net revenue $enter total net revenue in dollars (b) Net income $enter net income in dollars (c) Income attributable to controlling stockholders $enter income attributable to controlling stockholders in dollarsThe following accounts of Rex Company are as follows: Sales P480,000; Cost of goods sold P300,000; Sales discounts P20,000; Sales returns and allowances P15,000; Purchase discounts P5,000; Purchase returns and allowances P7,000; Selling Expenses P40,000; General & Administrative expense P45,000; Interest income P5,000. What is the net income? P60,000 P65,000 P55,000 P180,000
- 19) Montana Co. had the following account balances: Sales reveäue Cost of goods sold Salaries and wages expense Depreciation expense Dividend revenue Utilities expense Rent revenue Interest expense Sales returns and allowances Advertising expense S 180,000 90,000 15,000 30,000 6,000 12,000 30,000 18,000 16,500 19,500 What would Montana report as total expense in a single-step income statement? 20) Gross billings for merchandise sold by Gomez Company to its customers last year amounted to $12.720,000; sales returns and allowances were $370,000, sales discounts were S175.000, and freight-out was $140,000. Net sales last year for Gomez Company were?Here are some data from Kamila Company's financial statements. Compute Kamila's NET INCOME. Cost of Goods Sold Cash Sales Operating Expenses Inventory Interest Expense Accounts Payable Income Tax Expense 600 70 1,500 250 300 50 100 200Presented below are certain account balances of Paczki Products Co. Rent revenue $ 6,500 Interest expense 12,700 Beginning retained earnings 114,400 Ending retained earnings 125,000 Dividend revenue 71,000 Sales returns and allowances 12,400 Allocation to noncontrolling interest 17,000 Sales discounts $ 7,800 Selling expenses 99,400 Sales revenue 390,000 Income tax expense 31,000 Cost of goods sold 184,400 Administrative expenses 82,500 Instructions From the foregoing, compute the following: (a) total net revenue, (b) net income, and (c) income attributable to controlling stockholders.
- Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Y7 Sales $701,000 $610,000 Cost of goods sold 434,620 347,700 Selling expenses 105,150 103,700 Administrative expenses 119,170 122,000 Income tax expense 21,030 12,200 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent $fill in the blank 6de34503cfdf061_2 fill in the blank 6de34503cfdf061_3% $fill in the blank 6de34503cfdf061_4 fill in the blank 6de34503cfdf061_5% fill in the blank 6de34503cfdf061_7 fill in the blank 6de34503cfdf061_8% fill in the blank 6de34503cfdf061_9 fill in the blank 6de34503cfdf061_10% Gross profit $fill in the blank…Based on the following information, calculate the amounts that would appear on a ultiple-step income statement for the Lindsey Company. Show and label your Iculations. Office Salaries Expense $15000 Interest Expense $19000 Sales $500000 Advertising Expense $59000 Sales Salaries Expense $26000 Cost of Goods Sold $328000 Sales Returns and Allowances $15000 Calculate Net Sales? Calculate Gross Profit? Calculate Operating Income?The following summarized data were provided by the records of Mystery Incorpor Administrative Expense Cost of Goods Sold Income Tax Expense Sales Returns and Allowances 42 Selling Expense Sales of merchandise for cash Sales of merchandise on credit es $ 23,000 185,000 21,600 9,000 48,200 340,000 52,000 Required: 1. Based on these data, prepare a multi-step income statement for internal reportin MYSTERY INCORPORATED Income Statement For the Year Ended December 31 Sales revenue Sales returns and allowances Net sales Cost of goods sold GA $ 392,000 9,000 383,000 185,000