J_Fitzgerald_FIN534_A1 Part 2

Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 Sales Operating expense Net income 48,800 Sales returns & allowances 25,000 Gross profit 282,825 Interest expense 250 34. $ Calculate Net sales: 35. Calculate Cost of Goods Sold Calculate operating 36. income 37. $ Calculate Income before Income tax (IBT) %. Calculate the gross profit 38. margin (one decimal place) %. Calculate the net profit margin (one 39. decimal place)

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QUESTION 6 Use the information below to answer. If total sales are $18,800 what is the MD%? Style # QTY Orig Retail Sale Price 1000 120 $50.00 $29.99 1200 150 $38.00 $29.99 1300 144 $44.00 $29.99 1400 96 $54.00 $29.99

The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000

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Profit margin ratio? General accounting

Santana Rey expects second quarter 2022 net income of Business Solutions's line of computer furniture to be the same as the first quarter's net income (reported below) without any changes in strategy. Sales were 136 desk units (sales price of $1,250) and 76 chairs (sales price of $500). BUSINESS SOLUTIONS-Computer Furniture Segment Segment Income Statement* For Quarter Ended March 31, 2022 Sales Cost of goods sold* Gross profit Selling, general, and administrative expenses Sales commissions (10%) Advertising expenses General and administrative expenses Net income *Reflects activity only related to the computer furniture segment. † Sales: (136 × $1,250) + (76 × $500) = $208,000. ‡ Cost of goods sold: (136 × $750) + (76 × $250) = $121,000. Santana believes that sales will total 180 desks and 129 chairs for the next quarter if selling prices are reduced to $1,150 for desks and $450 for chairs and advertising expenses are increased to $14,880 for the quarter. Product costs per unit and…

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what is the company's gross profit?

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Financial Accounting Question

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In a common size financial statement, which of the following is given a percentage of 100 percent? Total liabilities Net income Net Sales Cost of goods sold MA MacBook Pro 57 W P # LE

Compute net sales

Russell Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018   Russell Industry Average Net sales revenue $780,000 100.0 % Cost of goods sold 524,940 65.8 Gross Profit 255,060 34.2 Operating Expenses 162,240 19.7 Operating Income 92,820 14.5 Other Expenses 7,800 0.4 Net Income 85,020 14.1 % MORE INFO:       Russell/industry average Total Assets $480,000 100.0 % total Liabilities 327,360 64.7 total Liabilities and Stockholders' Equity $480,000 100.0 %   SOLVE for % of total (round total to one decimal place x.x%)   Amount Percent of total Net Sales Revenue 780,000   Cost of goods sold 524,940   gross profit 255,060   operating expenses 162240   operating income 92820   other expenses 7800

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View Policies Current Attempt in Progress Assume Sunland Company has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $649.599, and Operating expenses $215,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit S (c) Compute income from operations.

What is the gross margin? General accounting

what is the profit margin ratio

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What is the profit margin ratio on this general accounting question?

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