Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sparks company reported sales revenue of $360,000,

Sparks Company reported sales revenue of $360,000, operating expenses of $50,000, and a net loss...

70.2K

Verified Solution

Question

Accounting

Sparks Company reported sales revenue of $360,000, operating expenses of $50,000, and a net loss of $45,000 for the most recent fiscal year. What amount did Sparks report for cost of goods sold?

A : $265,000

B : $405,000

C : $355,000

D : $410,000

When I do this problem for cost of goods sold i subtract operating expenses from sales revenue and get $310,000. can someone explain if this is the correct formula if not can you show me?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

“2. How is new blood made? “ Click here to enter text “3. What is the main...

Mechanical Engineering
1.2K views

I am designing a gas heater and a heat exchanger for a swimming pool. As I...

Electrical Engineering
1.2K views

(i) Compare (a) Mask Programmable Logic Devices, (b) Field Programmable Logic Devices and (c) Field Programmable Gate...

Accounting
1.2K views

13. Alice owns an apartment complex with an adjusted basis of $305,000. A flood occurs on...

Biology
1.2K views

Line 2 of "The Love Song of J. Alfred Prufrock" is a vivid example of...

Physics
1.2K views

Tor Two identical bodies are made of a material which the heat capacity increases with...

Calculus
1.2K views

Find the derivative of the function y tan x 5 y

Accounting
1.2K views

Rose Company has a relevant range of production between 9,000 and 25,000 units. The following...

Accounting
1.2K views

2023 an analysis of the accounts and discussions with company officials revealed the following informatic

Accounting
1.2K views

Ch 11 Ex 11-7 Saved Exercise 11-7 Accounting rate of return LO P2 points A...

Accounting
1.2K views

The shoe buyer plans to promote flip flop sandals at $24.99. The buyer needs to...

Accounting
1.2K views

Bolivar Basic Industries (BBI) expects to be worth either $80 million, $100 million or $200...