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jasenka [17]
2 years ago
9

Fun! Inc. had total sales of $ 480,000 in 2014. The total cost of goods sold was $ 400,000 and the administrative and sales cost

s were $ 100,000. what is the net income of the company in 2014?
Business
1 answer:
viva [34]2 years ago
7 0

Answer:

-$20,000

Explanation:

In the income statement, total revenue and total expenditures are reported.  

If the total income is more than the total expenditure, then the company would gain net income And if the total income is less than the total expenditure, then the company will have a net loss This net income or net loss would be expressed in the statement of retained earning

The computation of the net income is shown below:

= Total sales - total costs of goods sold - administrative and sales costs

= $480,000 - $400,000 - $100,000

= -$20,000

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3 0
2 years ago
The demand curve has what kind of slope?
Leto [7]

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8 0
3 years ago
On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement th
pav-90 [236]

Answer:

A) Debit cash, credit accounts receivable

Explanation:

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3 0
3 years ago
Producer surplus is defined as the:difference between a price floor and the market price.gap between the supply curve and the ma
klemol [59]

Answer:

Gap between the supply curve and the market price.

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Producers surplus = Actual market price - Willingness to accept the price

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Zigmanuir [339]

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