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Inessa [10]
3 years ago
13

Eric Company has the following information:

Business
1 answer:
Pani-rosa [81]3 years ago
6 0

Answer:

The amount of net revenues for Eric Company is 780,000

Explanation:

Net revenue is the sales (or total revenue) of a company from which returns, discounts, and other items are subtracted from.

Net revenue is calculated by following formula:

Net Revenue = Gross Revenue – Directly Related Selling Expenses (These are: Sales Returns, Sales Discounts....)

Eric Company has the data: Total Revenues 860,000 , Sales Returns and Allowances 50,000 , Sales Discounts 30,000

Net revenues for Eric Company = 860,000 - (50,000 + 30,000) = 860,000 - 80,000 = 780,000

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b. deliver fewer cameras than were needed during a holiday season.

Explanation:

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The account balances and income statement of Winfrey Towing Service on June 30, 2018, follow:
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Answer:

1. WINFREY TOWING SERVICE

Statement of Comprehensive Income

                                           $

Service revenue               10,800

Rent expense                    (550)

Salaries expense              (1,900)

Dividends paid                  <u>(4,000)</u>

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Statement of Retained Earnings

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Retained earnings c/f       8,250

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The Tax Cuts and Jobs Act passed in December, 2017, eliminated any personal exemptions ($4,050 per preson) but increased the sta
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Answer:

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explanation is attached .

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