Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 1 1-explain how to calculate the net inco

Question 1 1-Explain how to calculate the net income for merchandising companies, why is it different than...

50.1K

Verified Solution

Question

Accounting

Question 1

1-Explain how to calculate the net income for merchandisingcompanies, why is it different than calculating the net income forservice companies.

2-Prepare the income Statement for Yazeed merchandising companyfor December 2015 that has the followings: Sales: 9,000 Salesdiscount: 6,000 Salaries expenses: 200 Advertising expenses: 400Sales returns and allowances: 10 Insurance expenses: 50,000 Costsof Goods Sold: 4,000

Answer & Explanation Solved by verified expert
3.8 Ratings (425 Votes)
Question 1A Merchandising company sells goodsproducts while a servicecompany provides servicesCompanies    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find the coordinates of the vertices of each figure after the given transformation 3 reflection...

Geometry
Q

17. A campus program evenly enrolls undergraduate and graduate students. If a random sample of 4...

Basic Math
Q

What happened in Mexico and Russia in the second decade of the 20th century? What were...

Psychology
Q

A piece of silver has a mass of 72 grams and a volume of 9...

Biology
Q

4 A flux of 25mWb links with a 1500 turn coil when a current of...

Physics
Q

The function f x 10x ln 1 x is represented as a power series Find...

Calculus
Q

In Exercises 11 14 use zeros to graph the function 11 y x 1 x...

Algebra
Q

State the domain of the function f x Domain 3x 6x 2x 6x 20 using...

Algebra
Q

The average rate of return is a measure of profitability computed by dividing the average...

Accounting
Q

Question 1 Jumbo Sales Corporation offers warranties on all their electronic goods. Warranty expense is...

Accounting
Q

The following information applies to the questions displayed below.] Georgia Orchards produced a good crop...

Accounting
Q

Queutian 3 of 6

Accounting