find true solution Question:89Macarthy Landscape Supply's selected accounts as of December 31,2018, follow.Selling Expenses$ 12,900Interest Revenue900Net Sales Revenue1,34,700Cost of Goods Sold1,14,000Administrative Expenses10,200Compute the gross profit percentage for 2018.

The Gross Profit Percentage measures the proportion of sales revenue that exceeds the cost of goods…

Answered: Question:89 Macarthy Landscape Supply's…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 48E

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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%
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Sales Cost of goods sold Sales returns and allowances Operating expenses: Thompson's Company Income Statement For the Month Ended August 31, 2021 Net income $ 6,700 1,100
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1 Wook Hint Print ♫ References 6 Sales Cost of goods sold Accounts receivable Numerator: 2821 $ 522,732 269,043 25,300 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Type here to search 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Numerator: 2020 $ 348,488 179,479 20,456 Trend Percent for Net Sales: 1 T 1 1 1 1 2021: T 2020: 1 2019: T 2018: 1 2017: 1 Is the trend percent for Cost of Goods Sold favorable or unfavorable? 2019 $ 279,918 146,254 19,146 Trend Percent for Cost of Goods Sold: 1 Denominator: Denominator: Trend Percent for Accounts Receivable: I Denominator: 2021: 2020: 2019: 2018: 1 2017: 1 Is the trend percent for Accounts Receivable favorable or unfavorable? 1 1 1 O 2018 $ 195,059 101,230 11,352 = = M = = = = = = = = = 2017 $ 148,900 75,939 10, 200 Trend…
Calculating the CCC from the Financial Statement The following data are taken from the financial statement: Annual Sales ( on Credit ) 1,216,666 Cost of Goods Sold 1,013,889 Average Inventory 250,000 Average Accounts Receivable 300,000 Average Accounts Payable 150,000 COMPUTE FOR THE FOLLOWING and interpret your answer: 1. DIO stands for Days Inventory Outstanding 89.99999014 DIO= (Ave. Inventory/Cost of Goods Sold)*365 =(250,000/1,013,889)*365 =89.99 or 90 days It takes the company approximately 90 days to turn inventory into sales 2. DSO stands for Days Sales Outstanding 90.00004932 DSO=(Ave. Accts. Receivables/Total Credit Sales)*365 =(300,000/1,216,666)*365 =90 days #NAME? 3. DPO stands for Days Payable Outstanding 53.99999408 DPO=(Ave. Accts. Payables/Cost of Goods Sold)*365 =(150,000/1,013,889)*365 =53.99 or 54 days It takes the company approximately 54 days to pay its invoices 4.CASH CONVERSION CYCLE 126.0000454 CCC= DIO + DSO - DPO = 90+90-54 = 126 It takes the company…
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Calculate: ROCE Net profit margin and Average payable days for 2018 and 2019
Excerpts from Hulkster Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Merchandise inventory Net sales. Cost of goods sold Total assets Total shareholders' equity . Net income Hulkster's 2024 return on assets is closest to: Multiple Choice 13.5%. 7.1%. 47.7%.. 7,8%. 2024 2023 $ 40,000 $ 36,000 28,000 35,000 190,000 114,000 425,000 240,000 32,500 186,000 108,000 405,000 225,000 28,000

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Question:89 Macarthy Landscape Supply's selected accounts as of December 31, 2018, follow. Selling Expenses $ 12,900 Interest Revenue 900 Net Sales Revenue 1,34,700 Cost of Goods Sold 1,14,000 Administrative Expenses 10,200 Compute the gross profit percentage for 2018.