Can you solve this financial accounting problem using appropriate financial principles? If a gross margin of $42,000 is 30% of net sales revenue,what is the net sales revenue?a. $125,000b. $120,000c. $140,000d. $138,000e. none of these

Step 1: Define Net Sales RevenueNet sales revenue refers to the total revenue from sales after…

Answered: If a gross margin of $42,000 is 30% of…

If a gross margin of $42,000 is 30% of net sales revenue, what is the net sales revenue? a. $125,000 b. $120,000 c. $140,000 d. $138,000 e. none of these

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

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

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

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

Can you solve this financial accounting problem using appropriate financial principles?

If a gross margin of $42,000 is 30% of net sales revenue,
what is the net sales revenue?
a. $125,000
b. $120,000
c. $140,000
d. $138,000
e. none of these

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