Question
Rebel Corporation has the following information. Revenue $1,500,000 Returns of goods sold $ 50,000 Cash collected $1,250,000 Cost of goods sold $ 950,000 Other operating
Rebel Corporation has the following information.
Revenue $1,500,000
Returns of goods sold $ 50,000
Cash collected $1,250,000
Cost of goods sold $ 950,000
Other operating expenses $ 200,000
Using the accrual system of accounting, what is Rebel Corporation's gross profit?
| a. | $100,000 | |
| b. | $300,000 | |
| c. | $350,000 | |
| d. | $500,000 | |
| e. | $550,000 |
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Corporate Finance Principles And Practice
Authors: Denzil Watson, Antony Head
5th Edition
0273725343, 978-0273725343
