Which def co would report net sale revenue on statement

Assignment Help Accounting Basics
Reference no: EM132816429

DEF Co. had the following data for the period ended:

Cash sales P400,000

Credit sales 280,000

Sales discounts 25,000

Sales return 20,000

Freight-in 15,000

Freight-out 16,000

Problem 1: DEF Co. would report net sale revenue on its statement of comprehensive income amounting to;

a. P635,000

b. P620,000

c. P653,000

d. P680,000

Reference no: EM132816429

Questions Cloud

What is the actual amount needs to pay for xyz company : XYZ Company sold10 units of goods with a unit list price of P 2,000 on January 1, 2020, what is the actual amount he needs to pay?
Prepare a multiple-step income statement for Fred Inc : Prepare a multiple-step income statement for Fred, Inc. for the year ended December 31, 2020 including earnings per share
What is your common sense telling you in the given situation : Given the aforementioned case, what is your common sense telling you in this situation? You do not need to know theory for this assignment.
Identify leader traits and attributes : Discuss and identify leader traits and attributes that are most beneficial in implementing the best decisions in an organization.
Which def co would report net sale revenue on statement : Which DEF Co. would report net sale revenue on its statement of comprehensive income amounting to? Credit sales 280,000. Sales discounts 25,000
Greatest threat to security of information : What or who do you think is the greatest threat to the security of information today? What computer security incidents have been in the news recently?
How particular clients needs will be met by the treatment : You have been given the task of writing an ongoing article for the upcoming staff newsletters. You are researching and developing special treatments.
What is the total dollar return per share : The stock pays quarterly dividends of $.40 per share. Today, the stock is worth $34.60 per share. What is the total dollar return per share
Which the sales account should include : In a merchandising operation, the Sales account should include? sales of both merchandise and other assets of the business./ only cash sales of merchandise

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the cost of goods sold

Viva Inc. has provided the following information for the year: Cost of Goods Sold $1,261,000. What is the cost of goods sold

  Discuss the accounting treatment of the assets for the year

Grease Bhd leased out tangible non- current assets as operating leases. Discuss the accounting treatment of these assets for the year ended 31 December x5

  Flowchart-add some improvements-automation

#1. Flowchart the process as it is written. Use ‘swimming lanes' by functional area if desired. Think about what starts the process, what ‘documents' are used for input/outputs. etc. #2. Now look at the flowchart and add some improvements: Automat..

  Compute the amount of the liability that should appear

Compute the amount of the liability that should appear on the December

  Calculate the century division contribution margin

Gluten Corporation has the following information pertaining to its Century Division for this year.

  Managerial purposes and decisions

The CEO of your company has asked you to prepare a written presentation to be given at the next board of directors meeting on why different types of cost information need to be reported to support different managerial purposes and decisions. In a ..

  What is the motivation behind the tax departments

as of december 30 2009 robin corporation a calendar year taxpayer has gross income from operations of 497000 expenses

  Prepare a multi-step income statement

Pono Paint Company has the following income statement items for the year ended December 31, 2014 ($ in 000s): Prepare a multi-step income statement for 2014

  Determine the volume of air after it is compressed

An air compressor draws in 1,000 of free air at a gauge pressure of 0 psi and a temperature of 60°F The air is compressed to a gauge pressure of a100 psi.

  What is the intrinsic value of the Umbrella Corp bond

Coupons are paid bi-annually. If your required rate of return is 8% p.a., what is the intrinsic value of the Umbrella Corp bond

  Use the following information to prepare a multiple-step

use the following information to prepare a multiple-step income statement.nbspnbspthe income tax rate on all items is

  Prepare the journal entries to record the interest received

The bonds provide the bondholders with a 7% yield. Prepare the journal entries to record the interest received and the amortization for 2017

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd