Given gross sales of 50000
WebJun 9, 2016 · Hence, the cost of goods sold shall be calculated in the following manner: Cost of Goods Sold = Purchases + Direct Expenses – Closing Stock. = Rs 75,000 + Rs 8,000 – Rs 15,000. As a consequence, since there exists closing stock at M/s Verma Traders during the end of the accounting period, this will change Gross Profit. WebGross Profit is calculated using the formula given below. Gross Profit = Total Sales – Cost of Goods Sold. ... So Networking Inc has a Gross profit of $23,50,000, which means that goods that networking Inc Sold for $3,000,000 cost them $650,000 to produce, and the company can utilize $23,50,000 to pay its other expenses.
Given gross sales of 50000
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WebHow rapidly (in how many days) must accounts receivable be collected if management wants to have an average of Rs.50,000 invested in receivables? (Assume a 360-day year.) ... GIVEN, gross profit margin =34% sales = $8.3 … WebSee Answer Question: Given gross sales of $40,000 and sales returns and allowances of $6,000, what are the net sales? Given gross sales of $40,000 and sales returns and allowances of $6,000, what are the net sales? Expert Answer 100% (13 ratings) Gross sales = $40000 Sa … View the full answer Previous question Next question
WebGiven the information below, what is the gross profit? Sales revenue $ 335,000 Accounts receivable 59,000 Ending inventory 117,000 Cost of goods sold 241,000 Sales returns 29,000 Expert Answer 100% (6 ratings) Sales revenue = $335,000 Sales returns - $29,000 Net sales … View the full answer Previous question Next question WebApr 27, 2024 · How to calculate gross sales. The formula to calculate gross sales is Total Units Sold x Original Sale Price = Gross Sales. A company's gross sales are the total sales of all its products and/or services over a period of time. Known as top-line sales, the number represents the total revenue of a business without deductions, returns, or …
WebOct 13, 2024 · To calculate your company's breakeven point, use the following formula: Fixed Costs ÷ (Price - Variable Costs) = Breakeven Point in Units. In other words, the breakeven point is equal to the total fixed costs divided by the difference between the unit price and variable costs. Note that in this formula, fixed costs are stated as a total of all ... WebJan 9, 2024 · Answer: Option (D) is correct. Explanation: Given that, Sales revenue = $32,0000. Accounts receivable = 50,000. Ending inventory = 100,000. Cost of goods sold = 250,000
WebMar 11, 2024 · Answer (1 of 4): Calculating the cost of goods supplied (COGS) is necessary before calculating profit when all you have are gross sales and the markup percentage. The actual expense of making or acquiring the sold goods is reflected in the COGS. Use the following method to calculate COGS: COGS ...
WebJan 14, 2024 · The sales tax or VAT (doesn't really matter in this case) is 25%. The gross price would be $40 + 25% = $40 + $10 = $50. Net price is $40, gross price is $50 and … login myer onlineWebComplete the balance sheet and sales information in the table that follows for J. White Industries, using the following financial data: Total assets turnover: 1.5 Gross profit margin on sales: (Sales Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 40% Quick ratio: 0.80 Days sales outstanding (based on 365-day year): 36.5 days Inventory … login my eppWebDec 12, 2024 · To calculate gross sales, determine the total sales before deductions, i.e., sales or returns: Gross sales = Sum of all sales (Total units sold * Sales price per unit) … log in my epccWebRs.54,000 Shareholders fund Rs.600,000 Gross profit margin. 20% Credit sale to Total sales. 80% Total assets turnover. 0.3 times Inventory turnover. 4times Average collection period. 20 days ( a 360 days year) Current ratio. 1.8 Long-term debt to equity. 40% BALANCE SHEET Creditors. ? Cash ? Long term debt. ? Debtors. ? Shareholders… in each of the next two yearsWebSales revenue $350,000 Accounts receivable $280,000 Ending inventory $230,000 Cost of goods sold $180,000 Sales returns $50,000 Sales discount $20,000 What is the gross profit? login myepiccarelink.orgWebJun 30, 2024 · The gross sales will be given by: Gross sales=(net sales)+(sales returns)+(discount) ... Thus; Gross Sales=50000+10000+1500 =61,500 The answer is B. $61,500 Advertisement Advertisement New questions in Business. The main types of markets are called _____. residential consumer industrial customer login myescreen.comWebApr 5, 2024 · For example, if a company has gross sales of $100,000, sales returns of $5,000, sales allowances of $3,000 and discounts of $2,000, the net sales are … log in my emails