Calculate gross profit, depreciation expense on equipment

Calculate gross profit

Assignment Help Accounting Basics

Reference no: EM133654957

Question: A company reports the following info: COGS $427,600; sales revenue $1,235,000; common stock $120,000; gain on sale of old delivery truck $1,200; sales returns $17,400; depreciation expense on equipment $82,400; dividends paid to shareholders 280,000. Income tax rate is 25%. Calculate gross profit.

Reference no: EM133654957

Questions Cloud

What is the warranty expense for 2020 : Second year of warranty Sales Actual warranty met 1. 2020 2021 6,000.000 7,(XX),1100 101000 300.000 What is the warranty expense for 2020

During which step of the development process is determined : Before commercialization of a product an organization has to determine if the product can meet. During which step of the development process is this determined?

Discuss the entrepreneurial innovation that helped : Discuss the entrepreneurial innovation that helped with this success. Do not choose an entrepreneur or company that you have used in a previous course.

What challenge for effective budgeting does this represent : As a project manager, the project sponsor gives you cost estimates with a set amount of money to spend. What challenge for effective budgeting does this represe

Calculate gross profit : depreciation expense on equipment $82,400; dividends paid to shareholders 280,000. Income tax rate is 25%. Calculate gross profit.

What are the financial statement effects : what are the financial statement effects when the service is rendered on May 7? For Juanita Construction, what are the financial statement effects when

Which would be proper for attorney to do : Assume the original claim was settled. One year after Attorney left the employ of Insurance Company, Claimant slipped. Which would be proper for Attorney to do?

What is tyler and rosss qbid allowed for the partnership : The partnership pays a total of $127,500 in W-2 wages. Under Sec. 199A, what is Tyler and Ross's QBID allowed for the partnership

What is the inventory turnover for kenny rogers roasters : Inventory, $6,034,000 in Sales, $817,040 in net fixed assets, $3,496,672 in Total Assets, and $1,144,800 in Current Liabilities. What is the Inventory turnover

User Account

All Pages