If the net sales 1250 000 ID.,selling expenses 250 000 ID.,Administrative expenses 250 000ID., the cost of goods sold 1o00000 ID., the cost of purchases750 000 ID., the income tax 45* -:000 ID., the gross profit are250 000 ID. O1500 000 ID. )1000 000 ID. Ono one

Solution:- Calculation of Gross profit as follows under:-

If the net sales 1250 000 ID ., selling expenses 250 000 ID., Administrative expenses 250 000 ID., the cost of goods sold 1000 000 ID., the cost of purchases 750 000 ID., the income tax 45 * -:000 ID., the gross profit are 250 000 ID. 1500 000 ID. 1000 000 ID. no one O

If the net sales 1250 000 ID ., selling expenses 250 000 ID., Administrative expenses 250 000 ID., the cost of goods sold 1000 000 ID., the cost of purchases 750 000 ID., the income tax 45 * -:000 ID., the gross profit are 250 000 ID. 1500 000 ID. 1000 000 ID. no one O

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

If the net sales 1250 000 ID.,
selling expenses 250 000 ID.,
Administrative expenses 250 000
ID., the cost of goods sold 1o00
000 ID., the cost of purchases
750 000 ID., the income tax 45
* -:000 ID., the gross profit are
250 000 ID. O
1500 000 ID. )
1000 000 ID. O
no one

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