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Gross proceeds are the total amount that the seller receives from the sale of the home. Net proceeds are the amount that the seller actually pockets after paying the mortgage balance and various ...
In Cost-Volume-Profit Analysis, where it simplifies calculation of net income and, especially, break-even analysis.. Given the contribution margin, a manager can easily compute breakeven and target income sales, and make better decisions about whether to add or subtract a product line, about how to price a product or service, and about how to structure sales commissions or bonuses.
The commission that the agent receives is usually a percentage of this figure, although some firms like Merrill Lynch use figures called Production Credits, usually smaller than GDC, to determine payouts and retain more revenue. For example, a mutual fund with a 5.75% sales charge is sold to someone who invests $10,000.
The trading statement is an expanded version of sales portion of the Income statement. The trading statement's main objective is to determine sales, cost of sales and gross profit. [1] The trading statement is part of effective book keeping within the accounting discipline.
Earning a commission income is like the icing on the cake for a job well done. Whether you're a sales manager that's just closed a major deal or a real estate agent who's recently sold a high-end ...
(a) the gross amount due from customers for contract work as an asset; and (b) the gross amount due to customers for contract work as a liability. (These should be separate line-items on the face on the balance sheet.) The gross amount due from/to customers for contract work is the net amount of: (a) costs incurred plus recognized profits; less
For a business, gross income (also gross profit, sales profit, or credit sales) is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments. This is different from operating profit (earnings before interest and taxes). [1]
The income and retained earnings of the accounting equation is also an essential component in computing, understanding, and analyzing a firm's income statement. This statement reflects profits and losses that are themselves determined by the calculations that make up the basic accounting equation.