Nash's Trading Post, LLC reported net income $20,000; net sales $401,000; and average assets $601,000 for 2017. What is the 2017 profit margin?
Q: Financial Accounting
A: Tip Top Corp. A.Materials price variance = (Actual rate - Standard rate) x Actual quantityMaterials…
Q: What would the price of the stock be for black adam enterprise on these financial accounting…
A: Step 1: Define Price-Earnings RatioThe company uses the price-earnings ratio to calculate the value…
Q: Gain or loss?
A: Explanation: In the given case, we are required to calculate the gain or loss on sale of equipment…
Q: Please give me answer accounting
A: Step 1: Define VarianceWhen a variance has reached the company's set amount when management by…
Q: I need answer of this question solution general accounting
A: Step 1: Define Operating Cash FlowOperating cash flow is an important value that is used in capital…
Q: I need answer of this question general accounting
A: Step 1: Define WIP inventoryIt is a term related to supply chain management and manufacturing that…
Q: General accounting. What was the amount of overapplied or underpplied overhead?
A: Overapplied/Underapplied Overhead = Applied Overhead − Actual Overhead= $306,000 − $300,000 = $6,000…
Q: What would be the amount debited to the work in process Inventory on these accounting question?
A: Step 1: Define Predetermined Overhead RatesThe manufacturing overhead cost debited to…
Q: ComprehensivePiedmont Manufacturing produces metal products with the following standard quantity and…
A: Step 1: Understanding VariancesFormulae for Variances:Material Price Variance:MPV=(Actual…
Q: Use table information to answer
A: Explanation of Variable Cost: Variable cost is an expense that changes in proportion to the level of…
Q: Please give me answer accounting....
A: Step 1: Define AssetAn asset is a type of wealth or capital possessed or bought by a person or…
Q: Provide this question solution general finance
A: Step 1: Define Taxable IncomeThe taxable income of a taxpayer may differ from its accounting net…
Q: Provide correct answer for this accounting question do fast and step by step calculation with…
A: Step 1: Define Trade-in AllowanceTrade-in Allowance refers to a certain decrease in the price of a…
Q: A.1
A: Step 1:Computation of the issue price of the bonds on January 1, this year: Rate (r) = Quarterly…
Q: American Eagle Outfitters 2024 Financial analysis significant findings and the meaning of the…
A: Significant findings from my analysis of American Eagle Outfitters' 2024 financial performance and…
Q: Can you please answer this accounting question do fast? Ouirky inc.....
A: Step 1: Define Taxable IncomeIn accounting, taxable income is recognized as an income in which the…
Q: The shareholders' equity of ILP Industries includes the items shown below. The board of directors of…
A: All amounts are in millions. ($14,000,000 --> $14) Step 1: Cumulative and Nonparticipating Annual…
Q: Accounting. If Indiana ink inc has net sales
A: Compute gross profit first. Deduct the cost of goods sold from the net sales to get the gross…
Q: Please need Help with this Managerial Accounting
A: Step 1: Define Overhead Variances:In standard costing, separate budget variances for manufacturing…
Q: DM variances; journal entries Skip Company produces a product called Lem. The standard direct…
A: Detailed explanation:a. Material price variance = (Actual price - Standard price) x Actual quantity…
Q: Provide solution this accounting question please do fast
A: Step 1: Define Variance AnalysisVariance analysis refers to the comparison of standard and actual…
Q: I need answer of this question general accounting
A: Given Information:Debt (D) = $200 millionEquity capitalization (E) = $3.1 billion = $3,100…
Q: Pleae fill all cells necessary!!! please help me. The Last column on the right, that is hidden, is…
A: In (a), the accounts affected are cash and notes payable. The ones in red or in blank spaces are…
Q: Accounting
A: Step 1: Define Accounts ReceivableAccounts receivable are of no good if they are not converted into…
Q: Need answer the accounting question
A: Step 1: Define Current RatioIn accounting, current ratio is the ratio of a firm's current assets to…
Q: Costs as variable or fixed?
A: Explanation of Direct Costing:Direct costing, also known as variable costing, focuses on separating…
Q: What is the sales volume variance for total revenue on these accounting question?
A: Step 1:The sales volume variance is calculated as follows: Sales volume variance = (Actual sales…
Q: Can u help me on this Question
A: Definitions Related to the QuestionSubstance Over Form:This accounting principle emphasizes that the…
Q: Financial Accounting Question of the Higher fill Answer
A: Step 1: Define Return on EquityOne of the simplest ways to determine the return on equity is by…
Q: Grossman enterprises has an..accounting questions
A: Step 1: Define Return on EquityBusiness institutions compute return on equity to track their…
Q: Need help with this financial accounting question
A: Step 1: Define Market Risk PremiumThe additional return that an investor anticipates getting from…
Q: I need answer of this question financial Accounting
A: Step 1: Define Return on Equity using Dupont AnalysisDupont analysis states that return on equity is…
Q: A manufacturing company..please given answer accounting
A: Step 1:The annual inventory holding cost is calculated as follows: Annual inventory holding cost =…
Q: Follow the instructions
A: Days Inventory Outstanding = (Average Inventory/Cost of goods sold)*365Days Inventory Outstanding =…
Q: Give true answer this accounting question
A: Step 1: Define Job CostingWhen an industry does not create similar products or when every order…
Q: Can you solve these accounting question?
A: Step 1: Define OverheadManufacturing overheads can be defined as the total expense incurred by the…
Q: Discuss the accounting treatment
A: Explanation of Deferred Tax Asset (DTA):A deferred tax asset (DTA) is a financial asset that…
Q: Give answer this accounting question
A: Step 1: Define Accounting EquationThe accounting equation is expressed as assets = liabilities +…
Q: (13) Data for a manufacturing company for the year are as follows: Physical Percent Units Completed…
A: Step 1:The equivalent units of production for the period is calculated as follows: Equivalent units…
Q: Provide solution please
A: Explanation of Degree of Operating Leverage (DOL): Degree of Operating Leverage measures how a…
Q: Please solve general accounting question
A: Step 1: Define Working Capital ChangesThe working capital changes are described as the deviations…
Q: Need help with this accounting question Answer do fast
A: Step 1: Define Time value of moneyTime value of money refers to the tool that accesses that money…
Q: (17) A company had 10,000 partially completed units in beginning work-in-process inventory. This…
A: To determine the number of units in ending work-in-process (WIP) inventory, we use the following…
Q: Please help, give me a detailed answer to this.
A: Journal EntriesDateAccount Titles and ExplanationDebitCreditDecember 31, 2025Building (Capitalized…
Q: Accounting
A: Step 1: Define Labor quantity varianceTypically, labor variation refers to variances in labor rates…
Q: Hello tutor help me with this
A: Explanation of Inventory Turnover Ratio: The inventory turnover ratio measures how efficiently a…
Q: I need answer of this question solution general accounting
A: Step 1: Define Net ProfitThe net profit is the income over and above the operating and nonoperating…
Q: DL variances; journal entries Calista & Lane, CPAs, set the following standard for its inventory…
A: a. Compute the total actual payroll.Given:The firm actually worked 330 hours.The average hourly rate…
Q: Case study: Related Theory of Financial Accounting
A: Definitions:1. Employee TurnoverEmployee turnover refers to the rate at which employees leave a…
Q: Give true answer this accounting question
A: Step 1:Computation of the present value ordinary annuity at 12% for 4 years: Rate (r) = 12% or…
What is the 2017 profit margin on this accounting question?
Step by step
Solved in 2 steps
- The Global Group LLC, in 2017 reported the following: Net sales = $135,000; Cost of goods sold= $ 48,000; Other expenses =$37,000 and Net income = $50,000. What is the Gross Profit Margin?General accountingUse the following tables to answer the question: LOGIC COMPANY Income Statement For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Gross sales 19,800 15,600 Sales returns and allowances 900 100 Net sales 18,900 15,500 COGS 11,800 8,800 Gross profit 7,100 6,700 Depreciation 780 640 Selling and administrative expenses 2,800 2,400 Research 630 540 Miscellaneous 440 340 Total operating expenses 4,650 3,920 Income before interest and taxes 2,450 2,780 Interest expense 640 540 Income before taxes 1,810 2,240 Provision for taxes 724 896 LOGIC COMPANY Balance Sheet For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Current assets 12,300 9,400 Accounts receivable 16,900 12,900 Merchandise inventory 8,900 14,400 Prepaid expenses 24,400 10,400 Total current assets 62,500 47,100 Building (net) 14,900 11,400 Land 13,900 9,400 Total plant and equipment 28,800 20,800 Total assets 91,300 67,900 Accounts payable 13,400 7,400 Salaries payable 7,500 5,400 Total current…
- Please provide correct answer and accountingCompute for the profitability ratio, operating efficiency, and financial health of the given data below.The 2017 annual report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 0000 December 31, 2016 Total assets $930.9 $920.1 Total liabilities 197.1 208.6 Net sales 515.7 517.4 Net income 80.7 67.2 Instructions Compute the following ratios for Tootsie Roll for 2017. a. Asset turnover. b. Return on assets. c. Profit margin on sales. d. How can the asset turnover be used to compute the return on assets?
- In fiscal year 2018, Wal-Mart Stores (WMT) had revenue of $514.41 billion, gross profit of $129.10 billion, and net income of $6.67 billion. Costco Wholesale Corporation (COST) had revenue of $141.6 billion, gross profit of $18.42 billion, and net income of $3.13 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2018? a. Compare the gross margins for Walmart and Costco. The gross margin for Walmart is enter your response here %. (Round to two decimal places.) The gross margin for Costco is enter your response here %. (Round to two decimal places.) Part 3 b. Compare the net profit margins for Walmart and Costco. The net profit margin for Walmart is enter your response here %. (Round to two decimal places.) Part 4 The net profit margin for Costco is enter your response here %. (Round to two decimal places.) c. Which firm was more profitable in 2018? (Select from the…Compute the company's ROA for 2015???Refer to the following mentioned data. Net sales Cost of products sold Gross margin (In millions) 2017 2016 $34,954 $30, 040 14,274 13, 395 $20, 680 $16, 645 2017 2016 2015 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) 2015 $26, 091 13, 655 $12, 436 59.16 % 55.41 % 47.66 %
- Please Provide answer with step by stepSolvency and Profitability Trend Analysis (Graph Picture from A-D is on the buttom for references) Addai Company has provided the following comparative information: 20Y8 20Y7 20Y6 20Y5 20Y4 Net income $273,406 $367,976 $631,176 $884,000 $800,000 Interest expense 616,047 572,003 528,165 495,000 440,000 Income tax expense 31,749 53,560 106,720 160,000 200,000 Total assets (ending balance) 4,417,178 4,124,350 3,732,443 3,338,500 2,750,000 Total stockholders’ equity (ending balance) 3,706,557 3,433,152 3,065,176 2,434,000 1,550,000 Average total assets 4,270,764 3,928,396 3,535,472 3,044,250 2,475,000 Average total stockholders' equity 3,569,855 3,249,164 2,749,588 1,992,000 1,150,000 You have been asked to evaluate…Answer? ? Financial accounting