Find the gross proceeds and the net proceeds if the total sales were 2 5 0 7 0 agents commision was 5 and miscellaneous expenses were 5 8 5 Computation of Commission P360,000 00 Total Price Commission Rate x Less 5 With tax 3 Gross Commission P 10,800 00 540 00 NET COMMISSION P 10,260 00 Computatio...

To find the gross proceeds and net proceeds from the total sales follo ...

Find the gross proceeds and the net proceeds if the total sales were 2 5 0 7

Fantastic news! We've Found the answer you've been seeking!

Question:

Find the gross proceeds and the net proceeds if the total sales were $25070$ ; agents commision was $5 %$ and miscellaneous expenses were $585$ .

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Apr 01, 2024 01:17 AM

See More Questions

This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
The comparative balance sheets for 2018 and 2017 and the income statement for 2018 are given below for Arduous Company. Additional information from Arduous's accounting records is provided also....
Consider the reaction BF3 + NH3 - F3B -- NH3 Describe the changes in hybridization (if any) of the B and N atoms as a result of this reaction?
AJ Industries currently uses 100,000 labor hours each year. The firm also spends $2,000,000 each year for capacity costs (also known as overhead costs). AJ's managers inform you that labor hours are...
Two springs have spring constants $k_{1}$ and $k_{2}>k_{1}$. Connected as shown in Figure P8.52, they act like one spring. Compute the spring constant of the combination, and determine whether it...
Effective financial statement analysis requires an understanding of a firms economic characteristics. The relations among various financial statement items provide evidence of many of these economic...
Why would you examine a company's balance sheet?
Resolve a force of 100N acting at an angle of 37 degrees with the horizontal into horizontal and vertical components.
Bigger Company owns all of the issued capital of Smaller Company. The financial statements of Bigger Company and Smaller Company at 30 June 2023 are as follows: Bigger Company acquired its 100 per...
Your brother-in-law, Bil, fancies himself quite an investor, and he knows your sister, Hermana, also has "a bit of an interest in the markets." So, he wants you to settle a dispute between them as to...
Zabad is 33 years old. He is married to Zared. Zared is 26 years old. During the current year of assessment Zabad earned the following income: foreign dividends of R72 000 from a foreign company in...
3. A Domestic Corporation pays royalty to a Foreign Corporation but it withholds a tax lower than Philippine tax laws based on a treaty. What document need be presented to prove the imposition of a...
ANSWER THE FOLLOWING QUESTION WITH A CLEAR SOLUTION AND FORMAT. Problem 10.113TH MONTH PAY AND OTHER BENEFITS Jonathan, a purely employed taxpayer, received the following during the taxable year....
Describe the words Hives or Skin Rash and Respiratory Disorders
Trade credit from suppliers is a very costly source of funds when discounts are lost. Explain why many firms rely on this source of funds to finance their temporary working capital.
When using the "shortest life" planning horizon, what issue should you explicitly consider for alternatives whose cash flow profiles extend longer than the "shortest life"'? a. Determination of...
Given the following information about sources of capital, what is the appropriate weighted average cost of capital to use in determining MARR? a. 9.87 percent b. 10.55 percent c. 12.42 percent d....
For each of the following categories, describe some of the difficulties that you would face in estimating appropriate values to be used in conducting an economic analysis. a. Cash flows b. MARR c....

Find the gross proceeds and the net proceeds if the total sales were 2 5 0 7

Question:

Expert Answer:

To find the gross proceeds and net proceeds from the total sales follo... View the full answer

Income Tax Fundamentals 2013

Students also viewed these accounting questions