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Question 1 1-Explain how to calculate the net income for merchandising companies, why is it different than...

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Accounting

Question 1

1-Explain how to calculate the net income for merchandisingcompanies, why is it different than calculating the net income forservice companies.

2-Prepare the income Statement for Yazeed merchandising companyfor December 2015 that has the followings: Sales: 9,000 Salesdiscount: 6,000 Salaries expenses: 200 Advertising expenses: 400Sales returns and allowances: 10 Insurance expenses: 50,000 Costsof Goods Sold: 4,000

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Question 1A Merchandising company sells goodsproducts while a servicecompany provides servicesCompanies    See Answer
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