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Question 1 1-Explain how to calculate the net income for merchandising companies, why is it different than calculating the net income for service companies. 2-Prepare
Question 1
1-Explain how to calculate the net income for merchandising companies, why is it different than calculating the net income for service companies.
2-Prepare the income Statement for Yazeed merchandising company for December 2015 that has the followings: Sales: 9,000 Sales discount: 6,000 Salaries expenses: 200 Advertising expenses: 400 Sales returns and allowances: 10 Insurance expenses: 50,000 Costs of Goods Sold: 4,000
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