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  • Sales Revenue

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    magdy kamel
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    The company had $280,000 in sales revenue and $100,000 in cost of goods sold, resulting in a gross profit of $180,000. Total expenses were $78,000, including $28,000 in selling expenses and $50,000 in administrative expenses. After accounting for other revenues and losses, the company had income before taxes of $94,000 and net income of $65,800 after paying income taxes of 30% on taxable income.

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    The company had $280,000 in sales revenue and $100,000 in cost of goods sold, resulting in a gross profit of $180,000. Total expenses were $78,000, including $28,000 in selling expenses and $50,000 in administrative expenses. After accounting for other revenues and losses, the company had income before taxes of $94,000 and net income of $65,800 after paying income taxes of 30% on taxable income.

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    14 views1 page

    Sales Revenue

    Uploaded by

    magdy kamel
    The company had $280,000 in sales revenue and $100,000 in cost of goods sold, resulting in a gross profit of $180,000. Total expenses were $78,000, including $28,000 in selling expenses and $50,000 in administrative expenses. After accounting for other revenues and losses, the company had income before taxes of $94,000 and net income of $65,800 after paying income taxes of 30% on taxable income.

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    © All Rights Reserved
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    of 1

    Sales Revenue $280,000

    COGS 100,000
    Gross Profit 180,000

    Selling Expenses:
    Sales Commission Expense $ 16,000
    Freight-out 6,000
    Bad Debt Expense 6,000
    Total Selling Expenses 28,000

    Administrative Expenses:
    Administrative Expenses 50,000
    Total Expenses 78,000
    Other Revenues/Gains:
    Interest Revenue 10,000
    Other Expenses/Losses:
    Loss on disposal of equipment 18,000
    Income before income taxes 94,000
    Income Tax Expense (30%) 28,200
    Income Before Extraordinary Income 65,800

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