Use the following financial information to find the entry you would make on an income statement for NET INCOME (LOSS) for the year ended December 31, 2011: Gross Sales, $110,000; Sales Returns and Allowances, $8,000; Sales Discounts, $2,400; Merchandise Inventory, January 1, 2011, $50,000; Merchandise Inventory, December 31, 2011, $43,100; Net Purchases, $80,500; Freight In, $975; Salaries,
$92,900; Rent, $15,500; Utilities, $1,275; Insurance, $2,450; and Income Tax, $15,650.
A) $23,458
B) ($98,544)
C) $65,782
D) ($116,550)
D
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A(n) ______ is designed to assist employees in confronting and overcoming problems in their personal life such as marital problems, financial difficulties, or substance abuse.
A. employee assistance program B. workâlife balance C. performance appraisal D. discipline meeting
Which of the following is NOT an example of a proverb of sales wisdom?
A. Customer choice between suppliers has never been greater. B. You do business with the one you trust and you trust the one you know. C. Like a ripple in water, satisfied customers will tell others about their positive experiences. D. It is always easier to sell to a satisfied customer than an unsatisfied one. E. The cost of acquiring a new customer is lower than keeping a present customer.
If 20 units of an item are purchased at $10.00 each and then 10 more units of the same item are purchased at $15.00 each and 15 more at $12.00 each, what is the weighted average cost per unit?
a. $17.18 b. $11.50 c. $12.00 d. $11.87 e. $11.78
According to Modigliani and Miller (MM), in a world with corporate income taxes the optimal capital structure calls for approximately 100% debt financing.
Answer the following statement true (T) or false (F)