Give Correct profit margin for this accounting question Financial information is presented below:Operating expenses$ 28,000Sales returns and allowances 7,000Sales discountsSales revenueCost of goods soldThe profit margin would be:a. 0.21.b. 0.14.c. 0.35.d. 0.15.3,000150,00091,000

Hello student! Profit Margin or Net Profit Margin is the percentage of net sales left after we…

Answered: Financial information is presented…

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...

See similar textbooks

Similar questions

The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)
The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?
Financial Accounting
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%
Provide correct answer for this question
Financial information is presented below: Operating Expenses $ 90000 Sales Returns and Allowances 22000 Sales Discounts 9000 Sales Revenue 281000 Cost of Goods Sold 157000 The gross profit rate would be 49.3%. 37.2%. 43.1%. 55.2%.
solve this problems
calculate the requirements
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
calculate this account questions profit ratio
can you please solve it

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Financial information is presented below: Operating expenses $ 28,000 Sales returns and allowances 7,000 Sales discounts Sales revenue Cost of goods sold The profit margin would be: a. 0.21. b. 0.14. c. 0.35. d. 0.15. 3,000 150,000 91,000