Q: What does inventories /sales ratio mean?
A: An accounting metric used to measure liquidity, solvency, efficiency etc. of a business entity is…
Q: Explain an example how to calculate gross profit percentage.
A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…
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: What is the gross profit? [ Select ] How much is the operating expense? | Select I | Select ] How…
A: Solution:- As per the above questions first we required to compute income statement. which helps to…
Q: Sales to Y Sales to others Cost of goods sold
A: A consolidated financial statement is inclusive of all the subsidiary companies where the owner has…
Q: calculate gross profit using FIFO and weighted average
A: FIFO and weighted average are methods of valuation of inventory. FIFO means First - in -First out,…
Q: which of the following would be considered in the calculation of gross profit? Sales and returns…
A: Gross Profit is the operating profit calculated by deducting the cost of goods sold from the revenue…
Q: The formula "(Sales Revenue – Cost of Goods Sold) + Sales Revenue" produces:
A: The income statement represents the net profit or net loss of the company that is calculated by…
Q: Calculation of Net income and Cost of Goods Sold
A: The cost of goods manufactured (COGM) is the sum of the cost of direct labor used, the cost of…
Q: An example of an expense classifi cation by function is: C . cost of goods sold.
A: Expenses are either classified by nature or by function.
Q: What does the gross profit percentage measure, and how is it calculated?
A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…
Q: Gross profit ratio
A: (Since you have posted a multi-part question, we will solve the first three parts for you. For the…
Q: Operating expenses are comprised of the following: O General and Administrative Expense, Cost of…
A: Operating Expenses (OpEx) are those expenses which are directly associated with the day to day…
Q: gross profit are
A: Gross profit is the residual income that is determined by reducing costs that are directly related…
Q: rk-in-prc
A: Cost of goods manufactured is as under:- Particular Amount Amount Direct material…
Q: How to get or compute the gross sales
A: Gross sales is presented in income statement.
Q: Cost of Goods Sold = [ ? ]
A: COGS includes all the direct expenses that are incurred in production. Indirect expenses to…
Q: cost of goods sold
A: Net purchases = Purchases - Purchase returns Grant Lee Purchases $355,200 $185,800 Purchase…
Q: What is the consolidated cost of goods sold?
A: On 30.06.2021, ABC acquired EFG = 70% Financial statement of 2022 states that : 1. In 2021, EFG sold…
Q: How to calculate gross margin and gross sales
A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account…
Q: Which of the following would calculate Net Income or Net Loss? O Gross Profit - Operating Expenses O…
A: Net income is calculated as the Sales-Cost of goods sold-Operating expense Where Gross profit is…
Q: Explain an example how to calculate gross profit.
A: Gross profit is the left over revenue after deducting all direct costs of making the products or…
Q: 1. What is the cost of goods available for sale? 2. What is the gross profit?
A: Cost of goods available for sale includes beginning inventory and net cost of purchases made. Gross…
Q: A measure of the overall price level paid for various goods and services by individuals: O a. Gross…
A: Solution:- Gross Domestic Product (GDP) means the sum total of prices of goods and services paid by…
Q: amount of profit
A: Total Fixed cost = OMR 40000 Selling price per unit = OMR 20 Total Sales = OMR 120000 Number of…
Q: Net net profit is computed in the
A: Net profit in computed in the Income statement or profit and loss statement . The format of the…
Q: the cost of goods sold is
A:
Q: Explain the difference between the flow of cost and the flow of goods as it relates to inventory.
A: Flow of cost means allocation of various cost to inventory It refers to a process of allocating…
Q: How much is the Net Purchases? how much is the Net Cost of Goods Purchased? how much is the Cost…
A: Purchases means where the goods has been purchased for the resale purpose. Gross purchases means…
Q: Operating expenses are comprised of the following: General and Administrative Expense, Cost of…
A: Solution Concept Cost of goods sold includes the direct material and direct labor and shall be…
Q: How do I calculate Net Income & Net Profit Margin
A: Net income: The bottom line of income statement which is the result of excess of earnings from…
Q: what is the estimated cost of goods sold & the estimated gross margin
A: The answer for the theory question on estimated cost of goods sold and estimated gross profit margin…
Q: The COGS is estimated by deducting the gross profit from sales revenue. Distinguish between gross…
A: Gross profit is calculated by deducting the cost of goods sold from the sales. The percentage of…
Q: Sales revenue min a. gross margin income from c b. C. cost of goods d. net sales
A: The question is based on the concept of Financial Accounting. As per the Bartleby guidelines we are…
Q: What is the gross profit? | Select) How much is the operating expense? [ Select ] | Select) How much…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Calculate Gross profit ratio
A: Gross profit ratio = Gross profit/ Sales *100
Q: cost of goods sold.
A: Understating ending inventory will overstate Cost of Good sold
Q: Define Gross profit ratio.
A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…
Q: How is gross profit calculated, and what does it represent?
A: Gross profit is the difference of amount obtained by subtracting Cost of goods sold from Net…
Q: Cost of Goods Sold
A: Under LIFO inventory value Inventory that is brought at a later date need to be sold first Closing…
Q: total net revenue
A: Statement of comprehensive income is a part of financial statements which shows the net income from…
Q: Compute the following: a) Net sales revenue b) Cost of goods sold
A: Gross profit is the amount earned from selling the company's products or rendering services. It is…
Q: Gross earning
A: Total sales = $146000 Commission 2% up to $80000 = $1600 3.5% from $80000-$100000 = 3.5%*$20000 =…
Q: Calculate gross profit percentage and return on sales ratio
A: The formula to calculate the given ratios are:
Step by step
Solved in 2 steps
- Identify each of the following items relating to sections of an income statement as Revenue from Sales (S), Cost of Goods Sold (CGS), Selling Expenses (SE), General Expenses (GE), Other Income (OI), or Other Expenses (OE). a. Utilities Expense b. Advertising Expense c. Purchases Discounts d. Sales Returns and Allowances e. Interest Income f. Freight In g. Depreciation Expense, Equipment h. Interest Expense i. Rent Expense j. SalesASSESSMENT: Problem #1: On June 30, 2020, PSA Trading Co. has the following informatign: revenue from sales is Po8,760; sales return is P35,50o; cost of goods sold is P8.490: salaries cost P 14,600; rent is P8,090; light and water expenses are P7.550 and miscellaneous expenses are Po,520.Generate an income statement and find: a. Gross Profit b. Net Profit or Loss Problem #2: AMA 6operative store had the following activities for year ended 2021: gross sales amounting to Po4,653, the cost of goods sold was P48,923, the operating expensés were, P8,723.15, and refunds for defective goods amounted to P26,497.15. Generate an income slatemeni and find: a. Net Sales b. Gross Profit c. Net Profit Problem #3: AMA cooperative store had the following activities for year ended 2021: gross sales amounting to P94,653, the cost of goods sold was P48,923, the operating expenses were, P8,723.15, and refunds for defective goods amounted to P26,497.15. Generate an income statement and find: a. Net Sales…Sales. Costs and expenses Cost of goods sold. Operating expenses. Interest expense... Income before income taxes. Income tax expense.. Net income.. Statement of Income For the Year Ended December 31, 2020 $1,140,000 $1,700,000 364,800 37,800 1,542,600 157,400 55,090 $ 102,310 GEORGE INDUSTRIES Statement of Financial Position December 31, 2020 Total assets. Total liabilities.. Total shareholders' equity... 2020 2019 $842,110 $717,800 329,600 279,600 512,510 438,200 Calculate the Net profit margin ratio (use up to 2 decimal places and do not use a % sign)
- Please complete the balance sheet using the ratios that have been provided below. Inventory Turnover = Cost of Goods Sold/Inventory Hint: Sales – COSG = Gross Profit SHOW YOUR WORK!!! Cash $200,000 Accounts Payable $100,000 Marketable Sec. $100,000 Acct Rec ________ Notes Payable _______ Inventories ________ Accruals $100,000 Total Current Assets ________ Total Current Liabilities ________ Gross Fixed Assets $4,000,000 Less: Accum Dep. _________ Long Term Debt _________ Net Fixed Assets $ 3,400,000 Stockholders Equity 4,800,000 Other Assets _________ Total Assets $ ________ Total Liabilities and Equity $________ RATIOS Sales $4,000,000 Gross Profit…Use the appropriate information from the data provided below: Cost of goods sold General and administrative expenses Net cash provided by financing activities Dividends paid Income tax expense Other selling expenses Net sales Advertising expense Accounts payable Required: Calculate operating income for the year ended December 31, 2023. Expenses: Operating Income Statement For the year ended December 31, 2023 $ $ 0 0 $ 234,000 96,000 138,000 32,000 22,000 52,000 556,000 78,000 66,000Use this information to Prepare a multiple-step income statement with earnings per sharedisclosure Denver Co. 12/31/2022 Debits CreditsPartial Trial Balance DataSales revenue 700,000Interest revenue 60,000Salary payable 15,000Gain on sale of land 110,000Patent 15,000Supply inventory 25,000Cost of goods sold 500,000Salary expenses 150,000Common stock 250,000Retained earnings 150,000Cash 250,000Office expense 100,000Denver's business segment, Division A, was sold at a pretax loss of 25,000 on July 1, 2022. Ithad earned a $13,000 pretax operating income from January 1, 2022 to the disposal date. Denverhad 50,000 shares of stock outstanding throughout the year. Income tax expense has not yet beenaccrued. The effective tax rate is 30%. dont give me handwritten answers thank you
- Calculate the common-sized percentage 2023. for Gross Margin indocs.google.com/forms choose the right answer Net profit is calculated in which of the following account? Trading account O Trial balance Profit and loss account C Balance sheet choose the right answer Goods returned by customer will be debited to which account? Return outward Purchases A/C O Return inward Customer's A/c OPrepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
- B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 1,500,000 150,000 14,700 874,500 422,000 1,200,000 108,000 73,500 60,000 2,500,000 1,419,700 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed. c. Paid $10,000 for an…Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets Total assets What is the equity multiplier for 2021? Multiple Choice 1.55 times 52 times 1.04 times 2.03 times 2020 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) $75 920 2021 $ 180 760 $ 5,920 4,190 320 $ 1,410 27 $ 1,383 290 $ 1,093 1,540 2,000 $ 2,535 $ 2,940 3,550 3,380 $ 6,085 $ 6,320 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,420 750 3,105 810 $ 6,085 2021 $ 1,710 540 3,010 1,060 $ 6,320
