how to figure out net of tax in accounting?
February 28th, 2010 | by admin |
how to figure out net of tax in accounting
Here’s the formula
Description $ %
Gross Sales 100 100
Cost of Goods Sold 50 50
Gross Profit 50 50
Expenses 40 40
Profit before Tax 10 10
Taxes 5 5
Net Profit 5 5
It’s the percentage of Gross Sales
One Response to “how to figure out net of tax in accounting?”
By PepsiLime on Feb 28, 2010 | Reply
Here’s the formula
Description $ %
Gross Sales 100 100
Cost of Goods Sold 50 50
Gross Profit 50 50
Expenses 40 40
Profit before Tax 10 10
Taxes 5 5
Net Profit 5 5
It’s the percentage of Gross Sales
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