During August, 2024, Sal’s Supply Store generated revenues of P30,000. The company’s expenses were as follows: cost of goods sold of P12,000 and operating expenses of P2,000. The company also had rent revenue of P500 and a gain on the sale of a delivery truck of P1,000.

Sal’s gross profit for August, 2024 is

During August, 2024, Sal’s Supply Store generated revenues of P30,000. The company’s expenses were as follows: cost of goods sold of P12,000 and operating expenses of P2,000. The company also had rent revenue of P500 and a gain on the sale of a delivery truck of P1,000.

Sal’s nonoperating income (loss) for the month of August, 2024 is

During August, 2024, Sal’s Supply Store generated revenues of P30,000. The company’s expenses were as follows: cost of goods sold of P12,000 and operating expenses of P2,000. The company also had rent revenue of P500 and a gain on the sale of a delivery truck of P1,000.

Sal’s operating income for the month of August, 2024 is

During August, 2024, Sal’s Supply Store generated revenues of P30,000. The company’s expenses were as follows: cost of goods sold of P12,000 and operating expenses of P2,000. The company also had rent revenue of P500 and a gain on the sale of a delivery truck of P1,000.

Sal’s net income for August, 2024 is

At the beginning of September, 2024, RFI Company reported Merchandise Inventory of

P4,000. During the month, the company made purchases of P7,800. At September 31, 2024, a physical count of inventory reported P3,200 on hand. Cost of goods sold for the month is

At the beginning of the year, Midtown Athletic had an inventory of P400,000. During the year, the company purchased goods costing P1,600,000. If Midtown Athletic reported ending inventory of P600,000 and sales of P2,000,000, the company’s cost of goods sold and gross profit rate must be