Solve general accounting question do fast Resented below is financial information for two different companies. Compute the missingamounts.Shabbona Company Jenkins CompanySalesSales returns$94,120(d)$(a)5,310Net sales86,78091,570Cost of goods sold57,430(e)Gross profit(b)40,780Operating expenses17,72024,310Net income(c)16,470

Step 1: Define Gross SalesIn accounting, the gross sale is an important account. It is a measure of…

Answered: Resented below is financial information…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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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?
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.)
Presented below are the components in Metlock, Inc.'s income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income (a) $82,400 52300 $30,100 $20,900 (b) $110,600 $77,000 $23,600 (c) $75,100 $87,200 $47,700
Operating Expenses Net Income $13,000 $23,300 $48,200 %24 %24 %24
Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Y7 Sales $701,000 $610,000 Cost of goods sold 434,620 347,700 Selling expenses 105,150 103,700 Administrative expenses 119,170 122,000 Income tax expense 21,030 12,200 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent $fill in the blank 6de34503cfdf061_2 fill in the blank 6de34503cfdf061_3% $fill in the blank 6de34503cfdf061_4 fill in the blank 6de34503cfdf061_5% fill in the blank 6de34503cfdf061_7 fill in the blank 6de34503cfdf061_8% fill in the blank 6de34503cfdf061_9 fill in the blank 6de34503cfdf061_10% Gross profit $fill in the blank…
Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Net income Profit margin Marigold Inc. Gross profit margin $80,500 54,740 15,295 Marigold Inc. Calculate the profit margin and the gross profit margin for each company. (Round answers to 1 decimal place, e.g. 17.5%.) % Martinez Inc. % $102,000 39,780 18,870 Martinez Inc. % %
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases:
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 8,500 200 6,000
Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income eTextbook and Medial $ Oriole Ltd. $89,200 58,872 19,500 700 0 2,608 Cullumber Ltée $101,400 40,053 18,200 0 1,900 $12,675
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 7,500 $ 100 5,500 Case B 5,600 3,850 1,400 Case C 250 5,820 5,350
Vertical Analysis of Income Statement Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Υ7 Sales $572,000 $503,000 Cost of goods sold 366,080 286,710 Selling expenses 80,080 85,510 Administrative expenses 91,520 100,600 Income tax expense 17,160 10,060 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent % % % % Gross profit % % % Total operating expenses % % % Net income
For Crane Company, the following information is available: Cost of goods sold $381000 Dividend revenue 16000 Income tax expense 36300 Operating expenses 138500 Sales revenue 594000 In Crane's single-step income statement, gross profit a. should not be reported. b. should be reported at $213000. c. should be reported at $54200. d. should be reported at $229000.

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