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3 years ago

What is the term applied to the amount that net sales exceeds cost of goods sold on an income statement?

Business

1 answer:

Oxana [17]3 years ago

7 0

Answer:

Gross profit / Gross Income

Explanation:

Term applied to the amount that net sales exceeds cost of goods sold on an income statement is Gross profit / Gross Income. We deduct cost of gods sold from Net sales to calculate Gross profit / Gross Income in the income statement. After this we deduct operating expenses to calculate Net profit / Net Income.

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I WILL GIVE BRAINLIEST

Alborosie

Answer: Operations manager

Explanation:

7 0

3 years ago

Excerpts from Neuwirth Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash equi

Artemon [7]

Answer:

The change in Accounts Receivable is added to net income; The change in Inventory is added to net income.

Explanation:

Account receivable:

= Ending balance - Beginning balance

= 24,000 - 28,000

= -4,000

Decrease in account receivable

Inventory:

= Ending balance - Beginning balance

= 65,000 - 68,000

= -3,000

Decrease in inventory

Since the Current assets have decreased therefore they should be added to net income.

The change in Accounts Receivable is added to net income; The change in Inventory is added to net income.

Note: The options are missing from the question, so i have attached the options with the answer.

3 0

3 years ago

Red offers to pay Sara to deliver certain documents within thirty minutes. Sara can accept the offer only by completing the task

hichkok12 [17]

B) A unilateral contract.

<h3><u>What exactly is a unilateral contract?</u></h3>

In contrast to the more typical bilateral contract, a unilateral contract is a sort of agreement where one party (also known as the offeror) makes an offer to another individual, business, or the general public. The offeree must carry out the act or provide the service specified in the agreement in order to get what the offeror promised.

While there are no promises made in a unilateral contract, there are fixed agreements and commitments between two parties in a bilateral contract. Instead, the offeror asks the offeree to fulfill a request, execute an act, or render a service.

<h3><u>What do you need to understand about unilateral contracts?</u></h3>

Although only one party is making a pledge in a unilateral agreement, it is nonetheless legally binding.

A task must be completed in order to accept a unilateral contract.

The unilateral agreement's act is not required to be carried out by the offeree.

Learn more about unilateral contracts with the help of the given link:

brainly.com/question/9129483?referrer=searchResults

#SPJ4

4 0

2 years ago

g The Investment Trust Fund for Watson County had the following transactions and events during the calendar year 2022: 1. The ci

sergeinik [125]

The Journal Entries recording the transactions for Investment Trust Fund by Watson County are as follows:

Journal Entries for 2022:

1. Debit Cash $250,000

Credit Contributions, Turtle Creek $150,000

Credit Contributions, Pineview $100,000

To record the contributions by the two cities to the Investment Trust Fund.

2. Debit Investments $187,500

Credit Cash $187,500

To record the purchase of investments.

3. Debit Cash $20,000

Credit Interest Income from Investments $20,000

To record interest income received from investments during the year.

4. Debit Investment Management Fees (Watson County) $3,750

Credit Cash $3,750

To record the payment of management fees to the county.

5. Debit Investments $7,500

Credit Fair Value Gain $7,500

To record the increase in value of investments.

6. Debit Turtle Creek & Pineview Cities $25,000

Credit Cash $25,000

To record the payment of income to the two cities.

Data Analysis:

1. Cash $250,000 Contributions, Turtle Creek $150,000 Contributions, Pineview $100,000

2. Investments $187,500 Cash $187,500

3. Cash $20,000 Interest Income from Investments $20,000

4. Investment Management Fees (Watson County) $3,750 Cash $3,750

5. Investments $7,500 Fair Value Gain $7,500

6. Turtle Creek & Pineview Cities $25,000 Cash $25,000

Thus, the journal entries above record the transactions and events that occurred for the Investment Trust Fund of Watson County for the two cities of Turtle Creek and Pineview for the year 2022.

Read more about recording Investment Trust Fund transactions at brainly.com/question/15088437

5 0

2 years ago

Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested mar

Solnce55 [7]

Answer:

The correct answer is d. "blue ocean strategy".

Explanation:

The strategy seeks to set aside competition between companies, expanding the market through innovation. What companies need to be successful in the future is to stop competing with each other. In the last twenty-five years, all strategic thinking has been directed to the red ocean; The administration defines that in the competition there is the success or failure of the companies, which has allowed many to know how to perform skillfully in this world, but ignoring that another type of strategy could generate better results, without worrying so much about the competition.

The red ocean represents all existing industries today. These companies must have clearly marked limits, as well as defined competencies, and their objective is to overcome the rival and gain a great position in the market. They are constantly exposed to the emergence of new competitors, which decrease their chances of growth. Usually, this type of ocean is the reality of every business.

6 0

3 years ago