Answer:
$1,050,000
Explanation:
The computation of the net income is shown below:
Net income = Sales revenue × profit margin percentage
= $17,500,000 × 6%
= $1,050,000
To determine the net income we multiplied the sales revenues by its profit margin percentage so that the correct value could be arrived.
Car or vehicle should be the answer or try automotive transport
Answer:
Prepare a single-step income statement for the year ended December 31, 2020
Explanation:
SUNLAND CORPORATION
Inconme statement
For the year endend December 2020
Revenue
Net Sales 2.425.800
Interes Revenue 38.200
Total Revenue 2.464.000
Expenses
Cost Of goods 1.458.200
Administrative expenses 212.600
Selling xpenses 282.000
Interes expense 46.400
Tax rate 139.440
Expenses 2.138.640
Net income 325.360
Shares issued 70210
Earning p/share 4,63
Answer:
can u tell me what it is and I'll help
Answer:
(a)- Its assets will increase, as will its equity
Explanation:
The commercial terms state FOB shipping point therefore the transfer succeeds once the cargo enter the port.
The sale is thus completed. The revenue can be recognize thus, increasing the company's equity and assets.
Account receivable(+Assets) debit
Sales Revenue(+Equity) credit
