Answer: These costs will be classified as sales discounts
Explanation: Sales discounts are discounts given to customers for buying a company's products or special offer given to customers that are regular and loyal to a company's brand. Discounts are also given to attract new customers to a company's product.
Discounts are accounted for under the operational expenses head and are recorded as part of the company's operational expenses.
The effect of discounts are that it reduces the company's net profit but the positive effect is that it can increase the total sales of the company.
The answer is b many people want this product and havent purchased it yet
International Monetary Fund (IMF) <span>was founded in 1945, one year after the creation of the world bank, to promote trade through financial cooperation and eliminate trade barriers in the process.
</span>IMF <span>is an international organization headquartered in Washington, </span> responsible for ensuring stability of the international monetary system.
Answer:
Use goal seek to answer this question. All else equals, to have a net income of 20,000, the COGS margin percentage must be <u>40%</u>, and the gross profit must be <u>$17,250</u>.
Explanation:
The income statement is missing, so I looked it up and the information given was:
- Revenue 100,000
- COGS 40,000
- Gross Profit 60,000
- Salaries
- Marketing
- Rent
- Earnings Before Tax 23,000
- Income Tax 25%
- Net Income ?
Since COGS are$40,000 and total sales are $100,000, the COGS margin percentage = 40,000 / 100,000 = 40%
Since earnings before taxes are $23,000 and taxes are 25%, then net income = $23,000 x (1 - 25%) = $23,000 x 75% = $17,250
Assets Liabilities
10,000 8,000
250,000 175,000
8,000
Total Total
268,000 183,000
Fundamental Accounting Equation
Assets - liabilities= Equity
268,000-183,000=
85,000 is net worth
Hope this helps :)
( I'm doing accounting too)
