Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / The following account information is from ABC's Hair Products 12/31/20xx Partial Adjusted Trial Balance
The following account information is from ABC's Hair Products 12/31/20xx Partial Adjusted Trial Balance. What is the dollar ($) amount of ABC's Hair Products gross profit? Account Name Normal Account Balance Cash $20,000 Inventory Deferred Revenue $10.453 $10,000 $23,000 Retained Earnings Sales Revenue Rent Expense $115,000 $22,614 $64.921 Cost of Goods Sold Income Tax Expense $11,453 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24. 123. you would only input: 24123
The formula for gross profit is,
Gross profit = Sales revenue - cost of goods sold
Gross profit = 115,000 - 64,921
Gross profit = 50,079
Hence, 50079 is the correct answer.
SUMMARY:
50079 is the correct answer.
