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3 years ago

How to calculate cost of sales and gross profit

1 answer:

4 0

<h2><em><u>Answer:</u></em></h2><h2><em><u>Answer:Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit will appear on a company's income statement and can be calculated by subtracting the cost of goods sold (COGS) from revenue (sales)</u></em></h2>

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What is the primary role of our banking system?

Serhud [2]

Answer:

See explanation section

Explanation:

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4 years ago

Read 2 more answers

At a total cost of $5,600,000, Herrera Corporation acquired 280,000 shares of Tran Corp. common stock as a long-term investment.

Volgvan

Answer:

Date Account title Debit Credit

Dec. 31 Investment in Tran Corp. $210,000

Investment Income $210,000

Working:

Herrera owns 280,000 out of 800,000 Tran Corp shares so they will recognize:

= 280,000/800,000 * 600,000

= $210,000 of Tran Corp. net income.

Date Account title Debit Credit

Dec. 31 Cash $140,000

Investment in Tran Corp. $140,000

Working

Cash received as dividend = 0.5 * 280,000 share

= $140,000

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3 years ago

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lesya692 [45]

Answer:

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3 years ago

If a drought struck a country what would happen to the production possibilities

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3 years ago

What is the admirals feast for red lobster

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Answer:

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Explanation:

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4 years ago

How to calculate cost of sales and gross profit​

How to calculate cost of sales and gross profit