Fin Acct

¡Supera tus tareas y exámenes ahora con Quizwiz!

The income statement for ABC Company shows gross profit of $144,000; opeating expenses of $130,000 and cost of goods sold of $216,000. What is the net sales revenue?

$360,000

A proper income statement looks like

1. Sales Revenue 2. Sales Discount 3. Net Sales 4. Cost of Goods Sold 5. Gross Profit

The _____ cycle is a series of activities that the company undertakes to generate sales and ultimately cash

operating

What does the sales discount 2/10, n/30 mean?

you can take a 2% discount if you pay within 10 days, or the full amount is due within 30 days.


Conjuntos de estudio relacionados

Chapter 29: Management of Patients With Complications from Heart Disease

View Set

Usual, Customary, and Reasonable

View Set

Chapter V: Civil Rights and Public Policy

View Set