garbage_boy! even your basher friends agree that y
Post# of 22940
Posted On: 08/08/2016 10:29:47 AM
garbage_boy! even your basher friends agree that your accounting is suspect and think I am on point!
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2haveknowledge Member Level Monday, 08/08/16 10:01:41 AM
Re: Ragz2Richez post# 89657
Post # of 89671
Quote:
$14,500,000 gross annual revenue! Huge!
GROSS income is the income BEFORE expenses.
Not sure why NET income is being discussed.
From previous post..
Quote:
"In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus COST OF GOODS sold, EXPENSES AND TAXES for an accounting period."
Definition..
Quote:
For example, a business has sales of $1,000,000, cost of goods sold of $600,000, and selling expenses of $250,000. Its gross income is $400,000 and its net income is $150,000.
For a company, gross income equates to gross margin, which is sales minus the cost of goods sold. Thus, gross income is the amount that a business earns from the sale of goods or services, before selling, administrative, tax, and other expenses have been deducted. For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included."
"
2haveknowledge Member Level Monday, 08/08/16 10:01:41 AM
Re: Ragz2Richez post# 89657
Post # of 89671
Quote:
$14,500,000 gross annual revenue! Huge!
GROSS income is the income BEFORE expenses.
Not sure why NET income is being discussed.
From previous post..
Quote:
"In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus COST OF GOODS sold, EXPENSES AND TAXES for an accounting period."
Definition..
Quote:
For example, a business has sales of $1,000,000, cost of goods sold of $600,000, and selling expenses of $250,000. Its gross income is $400,000 and its net income is $150,000.
For a company, gross income equates to gross margin, which is sales minus the cost of goods sold. Thus, gross income is the amount that a business earns from the sale of goods or services, before selling, administrative, tax, and other expenses have been deducted. For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included."
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