Gross Income Accounting
Question: how do you find net sales,gross profit, and income from oprations?
Assume Baja Company has the following account balances: Sales $537,330, Sales Returns and Allowances $15,045, Cost of Goods Sold $339,984, Selling Expenses $71,520, and Administrative Expenses $42,518,find net sales, gross profit and income from oprations
Answer: Net sales are the sales minus any discounts or returns : 537,330 – 15,045 = 522,285
Your gross profit is what you make on the sales of the product, without taking into account any support costs (sales and administrative expenses): 522,285 – 339,984 = 182,301
Your income from operations is your net income, after it’s all said and done. 182,301 – 71,520 – 42,518 = 68,263
Next time, google it
Basic Accounting : Preparing a Profit & Loss Statement
Tax Refund Too Much
Question: Do I get refunded for tax on single items too?
So I just asked a similar question, but I think I should go into more detail. Say I buy 10 items and I need to return 2 of the items back to a store for a refund. How do they determine how much to refund you with the tax? Also, do you get your tax refunded for online purchases as well? (Assuming they charged me tax)
Answer: Yes they will
Pink Cross Foundation Tax Returns – Part 2
Gross Income Calculator
Question: I make 39,300 per year. What should my mortgage be for good financial health?
I heard about a government plan to pay 31% of income to mortgage. What should I pay per month for my mortgage? Is there a calculator somewhere to figure this out? Is it net income, or gross income that I take the 31% from.
Obviously I am not very financially intelligent!! Please help!! Thanks
I live in Florida if it makes a difference. Thanks again!Answer: A government plan??? The first place you went wrong is listening to the government for any financial help. Look at their situation!
Your mortgage payment, for good financial health, should be no more than 25% of your gross income…and that should include taxes and insurance. It shouldn’t be more than $818.75 per month in your case.
How To determine eligibility using the Making Homes Affordable Guidelines and a Loan Mod Calculator
Gross Income Tax
Question: How can you get your 2005 tax years adjusted gross income information? what is the fastes way to get this info
whats the fastest way to get the info?
I did my taxes on my computer and saved them on my hard drive. I also printed out a copy of the 2005 tax return. Our house caught on fire and burned to the ground therefore destroying my computer and the printed return. I did my taxes through turbotax, but I used my email from an old ISP and cant get into that account.Answer: Contact the IRS they can provide you with your AGI for tax year 2005, they can also provide you with a transcript of your prior year returns this is free of charge if you have a fax machine they can fax it to you, You stated that you filed electronically so there would not be a paper return that they would be able to photo copy..so no 39.00 fee
How to File Your Taxes – Adjusted Gross Income step 4 of 10