ACAR Photography Adjusted TRIAL BALANCE Dec., 31, 2018 Debit Accounts |Cash Accounts receivable Supplies |Notes Receivable Land Building Accumulated Depreciation- Building Equipment Accumulated Depreciation- Eguin Credit 30.000 60.000 15.000 6,400 80.000 320.000 42.000 150.000 17.000

Q: Briefly explain the difference between gross profit, net profit and EBIT.

A: Gross Profit is computed by deducting Cost of goods sold from Sales. Gross profit is the profit a…

Q: Net Income is transferred to the​ ____

A: Financial statements includesIncome statementBalance sheet Cash flow statementFinancial statements…

Q: investment securities for $5, 15,400 on a two-year, 8 per= 7, sold machinery for its ca machinery…

A: 1 Statement  of cash flows      For the year ended Dec 31 2017   Cash flow from operating…

Q: hohw do you make an income statement

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: The profit margin ratio is calculated by dividing: Select one: profit (loss) by sales revenue.…

A: Ratio analysis is quantitive method of getting inside review of an organisation. This helps us to…

Q: The amount of income a company reports in its financial statements is known as ________. Group of…

A: The objective of the question is to identify the correct term for the income a company reports in…

Q: Which item of the income statement represents the taxable income of the firm?     EBIT…

A: Taxable income is the income after deducting all the expenses in the business, before applying tax…

Q: Question: What is the formula for calculating the net profit margin? a. Net Profit / Revenue b.…

A: The income statement is prepared to record the revenue and expense of the current period. The income…

Q: Question: Which financial ratio measures the proportion of net income generated per dollar of…

A: The question is asking for the financial ratio that measures the proportion of net income generated…

Q: accounting profit definition

A: Double-entry accounting (Double-entry book-keeping): This is a system of accounting where a…

Q: The monetary value charged to customers for the performance of services sold is called a(n) O asset…

A: Performance of service is the completion of service as per specification, They earn revenue for the…

Q: mula for Gross Margin ratio? Seleccione una: a. Cost of Sales / Gross Revenues b. Revenues / Gross…

A: Gross margin ratio is one of indicator of the profitability of company and depends on the total…