Please give me answer general accounting A company shows the following balances:Sales Revenue $ 800,000Sales Returns and Allowances 75,000Sales Discounts 25,000Cost of Goods Sold 420,000What is the gross profit rate?a. 53%b. 60%c. 40%d. 47%

Step 1: Define Gross Profit RateThe gross profit refers to the profit calculated by taking the net…

Answered: A company shows the following balances:…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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A company shows the following balances: Sales $1,000,000 225,000 25,000 600,000 13 Sales Returns and Allowances Sales Discounts Cost of Goods Sold What is the gross profit rate? a. 60% b. 80% c. 40% d. 20% Explore
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A company shows the following balances: Sales Revenue $2962000Sales Returns and Allowances 402000Sales Discounts 60000Cost of Goods Sold 1350000 What is the gross profit rate? 46.0%58.0%54.0%66.0%
Financial Accounting
A company shows the following balances: Sales Revenue Cost of Goods Sold Sales Returns and Allowances Sales Discounts Operating Expenses What is the gross profit? $230,000 $440,000 $240,000 O $140,000 $1,000,000 $560,000 $180,000 $20,000 $100,000

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A company shows the following balances: Sales Revenue $ 800,000 Sales Returns and Allowances 75,000 Sales Discounts 25,000 Cost of Goods Sold 420,000 What is the gross profit rate? a. 53% b. 60% c. 40% d. 47%