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On November 1, 2012, Everett Janitorial Supply sold merchandise for $5,000, FOB destination, 2/10, n/30. The merchandise coat $3,200. Everett paid transportation costs of $100. On November 6, 2012, merchandise of $1,000 from the Nov. 1 sale was returned. The returned merchandise has a cost of $600. Everett received payment for the balance of the sale on November 10, 2012. If this were the only sales transaction of the period, what amount of Gross profit would be shown on the income statement?
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Pam owns a sole proprietorship and Kevin is the sole shareholder of a C (regular) corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how these losses will affect the taxable income of the..
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list and discuss one item that might cause a companys basic earning per share to become diluted. please describe the
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