Gross sales is 160,000, sales returns and allowances is ?, net sales is ? cost of goods sold is 68%, answer?
146204
Gross Sales - $160,000\nSales Return - 32%\nAllowances - 51,200\nNet Sales - 51,200
878395
multiply the price by the sales tax in percentage
222256
It depends on what your tax bracket is. If you are talking about sales tax then it depends on what that rate is as well. When you find out the rate you multiply it by 10,000 and there is your answer
658299
To seriously know that you have to get 'Students guide to income tax'... for income taxes and 'service tax' by any author for service tax. VAT stands for value added tax and it is charged on the value created at each stage in the trade process. this means that if a mfg sellers to another trader rs 100 article, rs 10 is tax ( i think prevailing tax rate is 10% with 2% cess) then the seller will sell to another dealer at 150 his tax will be 15rs minus what he has already paid ie output tax minus input tax so his liability will be rs 5. there are few different tax rates for VAT you need to confirm with an accountant or CA, or just browse on google, there are so many sites devoted to VAT
193028
Cost of Goods Sold \n= Selling Price - Gross Profit\n\nCost of Goods Sold \n= Opening Stock + Direct Expenses - Closing Stock\n\nNow since there is no stock, it would not be appropriate to think in terms of opening and closing stocks.\n\nDirect Expenses is a term relevant to an asset...\n\nAny expenditure that is incurred before brining the asset into usable condition is direct expenditure for the asset..\n\nSince in case of service industry we do not find direct expenses, it would not be possible to use the above ideas for ascertaining the cost of goods sold.\n\nSince there is no goods being sold, it would not be appropriate to use the term "cost of goods sold".\n\nIf one is to decide whether the business is profitable or not, the first figure to look at is gross profit, which gives the basic profit from the set of transactions related to trading activity.\n\nIf for a similar purpose, you intend to find the basic profit from a set of transactions that relate to the service activity, then we make a separate account to which we transfer all the incomes and expenses relating to that activity to ascertain a profit that is an equivalent of gross profit in trading activity.\n\nSome examples of accounts which reveal the profit from a set of transactions....\n\nrelated to consignments -- Consignment a/c\nrelated to joint ventures -- Joint Venture a/c\nrelated to branch -- Branch a/c\nrelated to hire purchase -- hire purchases a/c\n\nsimilarly \nrelated to a service  -- xxx service a/c\n\n\nhttp://www.futureaccountant.com/\n\nhttp://www.schoolingkids.com/
757926
There are many different types of income-net income, comprehensive income, etc... Gross income is basically revenues and gains minus expenses and losses. Net income is gross income minus taxes. Comprehensive income includes non-monetary things, such as increases/decreases in market values of assets. These things are added or subtracted from net income.\n\nProfit is directly related to products and services. For example, sales minus cost of goods sold (what the business paid)= profit. \nRevenue can be sales revenue, revenue collected from interest on investments, etc... It is actual money earned.\n\nOf course, it's a lot more complicated than this, but I don't know how in-depth of an answer your looking for.
796946
I must admit that, although I used to work in corporate finance, I have never heard the phrase 'profitability ratio'\n\nHowever, I would have thought it was a percentage of a company's turnover compared to its profits.   If a company turns over £100 (ie, what it gets for selling its goods) and makes £5, the profit would be 5%.   As a ratio, this would be 1:20   (and I am aware that no company turns over just £100 before anyone complains! - I just like nice easy numbers!)\n\nYou could also do the same for individual items.   However the two are not necessarily the same!\n\nIt costs a company £80 to make a car and it sells for £100, the profit would be £20.   This is 20%, or a ratio of 1:5.\n\nHowever, the company may have a turnover of £1,000 but make a profit of £250 because of things like property sales, selling spares and so on.   Here, the profit rate is 25% or a ratio of 1:4.\n\nThe only way to use such a ratio to see if it is a good company is to compare it to the industry average.   If the average for making a car is 5% or 1:9, then the company is doing well.   However, if the average is 33% or 1:3 then the company is doing badly!\n\nI am sure this is now as clear as mud for you!!!   But I wish you all the best!
404507
If you know the sales tax percentage, take the total price and divide it by 1.xxx (xxx being the tax percentage in decimal form). This will give the price without the tax.\n\nFor example: Total price is $106.50, sales tax is 6.5%, divide 106.50 by 1.065 = 100.00 (the price before taxes).
1018089
For  the sale, the $100,000 would be recorded as sales (credit) in the income statement and accounts receivable (debit) in the balance sheet. When collected in 30 days, the $100,000 would be removed (credited) from receivables and debited to cash.\n\nThe inventory would be reduced (credited) by $65,000 on the balance sheet, and cost of sales of $65,000 would be debited on the income statement. \n\nThe net result on the income statement would be $35,000 of gross profit
966608
The complete cost of an item taking into account all the costs to manufacture that item compared to the retail performance in sales profit for that same item
489606
Check out the competition that exists presently on the net.  That way you will be able to work out how much gets charged.  Then contact the website.  Compare what you are offered and make a guess.
718954
(a)\nLoss of $2500\n\n(b)\nProfit of $4250\n\n(c)\nBreak even point is selling 3,111 units.
1083840
I don't agree....\n\nFirst off, let's suppose the purchase is of $100. And the sales tax is ten bucks extra. Because if the sales tax were included in $100, it would be $9.09.\n\n(Accrual basis - Sales Tax or VAT)\n\n(SALE)\nAR-Clients  $1,100 dr\nSales $1,000 cr\nSales tax - payable  $100 cr\n\n(COLLECTION)\nBanks - $1,100 dr\nAR-Clients  $1,100 cr\n\n\n(PURCHASE)\nInventory  $1,000 dr\nSales tax creditable $100 dr\nAP-Vendors $1,100 cr\n\n(PAYMENT)\nAP-Vendor $1,100 dr\nBank - $1,100 cr\n\n\n(Cash flow Sales Tax or VAT)\n\nBut did you really generate Sales Tax (or VAT) when you made the credit sale? \nThe answer is no. Normally you would create a special account, probably with the following description: (Sales Tax Witholding - Pending ). You would credit the account at the moment you made the credit sale. \nThen, you would debit the account when you actually receive the payment, against Sales Tax Witholdings - Payable.\nThis is also true, for purchases...\n\nFor example:\n\n(SALE)\nAR-Clients $1,100 dr\nSales  $1,000 cr\nSales tax witholdings - pending $100 cr\n\n(COLLECTION)\nBanks $1,100 dr\nAR-Client $1,100 cr\n\nSales tax witholdings - pending $100 dr\nSales tax witholdings - payable $100 cr\n\n\nFor example:\n\n(PURCHASE)\nInventory  $1,000 dr\nSales tax payable - pending  $100 dr\nAP-Vendors $1,100 cr\n\n(PAYMENT)\nAP-Vendor $1,100 dr\nBank - $1,100 cr\n\nSales tax creditable $100 dr\nSales tax payable - pending  $100 cr\n\n\nI hope this information is still usefull to you...\nIf this is not what you were looking for send me a message!
102776
The difference between the cost of the merchandise and the amount of money you sold it for, minus legitimate business expenses, is taxable income and must be reported.  In additon you are actually supposed to make quarterly payments when you are self employed, although depending on how much you make the IRS may not make an issue of it.\n\nIf you can afford it it would be a good idea to have an accountant work it out for you.  The up side is, if you find out that, after expenses, you actually lost money, that's a deduction from your regular income.  But they won't let you keep showing losses forever... the usual limit is three years.
752401
Cost of goods sold is defined as the actual cost that is directly incurred by manufacturing the good.\n\nThus, take:\nIncoming inventory + cost of goods created - ending inventory. The Manufacturing overhead is indirect, and is thus not counted.\n\n165,700 + 689,200 - 194,100 = $660,800 (solution!)
905218
Unless the corporation is publicly owned it is under no obligation to disclose this information to the public.  It is possible to get a Dun & Bradstreet report on any business (you pay for this) and that might give you a clue as to gross sales.  (incidentally, annual revenue and sales are two terms for the same thing:  gross sales).  But, D&B gets these numbers from the company they do the report on and most privately held businesses do not release sales numbers and rarely, if ever, release profits.
354091
Gross profit is sales - COGS, so you figure out the profit after the raw goods/direct labor.\n\nNet profit takes into account a whole bunch of other factors.  It's how much the company actually made and can "keep" in the form of retained earnings.\n\n-SG&A\n-interest expense on debt\n-taxes\n-other one-time income or expenses