The following data is from Baker Company's income statement: • • • • Revenue: $80,000 Cost of goods sold: ($32,000) Operating expenses: ($28,000) Net income: $20,000 Calculate the gross margin percentage.
Q: please solve this Accounting question
A: Step 1: Define Double-Declining-Balance (DDB) Depreciation MethodThe Double-Declining-Balance (DDB)…
Q: Need answer general accounting
A: To calculate the gross margin, you use the formula: Gross Margin = Net Sales - Cost of Goods Sold…
Q: Hii expert please provide correct answer general accounting question
A: Step 1: Define Current LiabilitiesCurrent liabilities are the obligations that a business incurs…
Q: Please help this question
A: CAPITAL ASSET PRICING MODEL (CAPM)The CAPM is used to calculate the required rate of return for any…
Q: What is the ROA ?
A: To calculate the Return on Assets (ROA), use the formula: ROA =(Net Income/Total Assets) × 100…
Q: If a company has average accounts receivable:60000
A: Explanation of Days Sales Outstanding (DSO):Days Sales Outstanding (DSO) is a financial metric that…
Q: Cost Account
A: Gross Profit is the financial metric that represents the difference between a company's net sales…
Q: ?!
A: Here's how to calculate Hassan's Madhatter's total assets: 1. Calculate Net Income:Given: Profit…
Q: Quick answer of this accounting questions
A: To calculate the Gross Margin, use the following formula: Gross Margin = Sales Revenue - Sales…
Q: Differential Chemical produced 18,000 gallons of Preon and 39,000 gallons of Paron. Joint costs…
A: Step 1:Solution: Workings1. Calculation of the market value of Preon products at the split-off point…
Q: Suppose Austin Sound had sales of $450,000 and sales returns of $55,000. Cost of goods sold was…
A: Concept of Sales RevenueSales revenue is the total income a company generates from selling goods or…
Q: Please answer me. General Account
A: Step 1: Calculate the Return of the Original Investment• Return of Original Investment = Original…
Q: Ramsey Corp. reported the following balances at the end of the year: Credit Sales: $275,000 Accounts…
A: Detailed explanation:Given:Net Sales, $ 275000Accounts Receivable balance, $ 68000Allowance for…
Q: Financial accounting Problem
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Please provide answer this financial accounting
A: Step 1: Define Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) ratio is a financial metric…
Q: Ans
A: Let us determine Earnings Per Share (EPS):Dividend payout ratio = Dividends per share / Earnings per…
Q: NO WRONG ANSWER
A: The Capital Asset Pricing Model (CAPM) is used to determine the required rate of return on an…
Q: None
A: To calculate Spritzer Company's gross profit percentage and rate of inventory turnover for 2019,…
Q: Arlington Corp.'s stock was purchased six months ago at a price of $38.20 per share. You bought 100…
A: The question requires the determination of the capital gains.A capital gain is an increase in the…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Total Asset TurnoverTotal asset turnover is a financial ratio that measures a…
Q: Hello tutor please given correct answer general accounting question
A: Step 1: Define Short SellingShort selling is a share trading concept that focuses on borrowing…
Q: Is it possible to determine net income ?
A: Here's how: Calculate Total EquityDebt-to-Equity Ratio = Total Debt / Total Equity1.25 = Total Debt…
Q: Need help with this question solution general accounting
A: To solve this, we need to find the remaining balance after the partial repayment of $5,000, taking…
Q: ?!
A: Step 1: Calculation of total overhead costTotal Estimated Overhead Costs = Indirect Labor + Factory…
Q: 4 POINTS
A: Approach to solving the question:Freeform Detailed explanation: To determine the price per unit…
Q: What is the amount of the gross profit?
A: Explanation of Total Sales: Total sales represents the combined value of all merchandise sold by the…
Q: A company has net income:50000
A: Formula for Return on Assets (ROA):ROA = (Net Income / Total Assets) * 100 Calculation:ROA =…
Q: None
A: Final Answer:The Operating Cash Flow (OCF) is $555,000.
Q: General Accounting question
A: Step 1: Define P/E RatioThe Price-to-Earnings (P/E) ratio measures the relationship between a…
Q: Hii expert please provide answer general Accounting question
A: Step 1: Define Proceeds from a Discounted NoteThe proceeds from a discounted note are the amount the…
Q: solve this question answer of Financial accounting
A: Step 1: Define CAPMThe capital asset pricing model (CAPM) is a common approach to estimating the…
Q: ?????
A: The question requires the determination of the sustainable growth rate. The sustainable growth rate,…
Q: Ohms Company manufactures plugs at a cost of $41 per unit, which includes $5 of fixed overhead. Ohms…
A: Step 1: Costs if manufactured Total costs = Cost per unit x Number of unitsTotal costs = $41 per…
Q: Suppose you take out a five-year car loan for $14000, paying an annual interest rate of 4%. You make…
A: 1. Monthly Interest: The interest is calculated as:Monthly Interest =Amount Still Owed × (Annual…
Q: Can you help me with accounting questions
A: Explanation: In the given case, we are required to calculate the cost of goods manufactured from the…
Q: Please provide correct answer
A: Explanation of Price-Earnings (PE) Ratio: The Price-Earnings ratio is a key market value indicator…
Q: LION Tech leases equipment on January 1, Year One, for 8 years, while the equipment has a total…
A: Step 1: Introduction to leaseA lease is defined as a contractual agreement incorporated between two…
Q: Need answer break even point in sales? ? General Accounting question
A: Step 1: Define Break-Even Point in SalesThe Break-Even Point (BEP) in sales is the amount of sales…
Q: Total overhead applied is?
A: Explanation of Machine Hours: Machine hours represent the amount of time that manufacturing…
Q: I want the correct answer is accounting
A: Step 1: Definition of Debt-to-Equity RatioThe Debt-to-Equity Ratio (D/E Ratio) measures a company's…
Q: General accounting
A: Explanation: The formula for calculating rate of return is as follows:Rate of return = [Gain (or…
Q: Need help with this accounting questions
A: Step 1: Definition of Key TermsReturn on Assets (ROA): It measures a company's efficiency in…
Q: The Capital Asset Pricing Model is primarily used to :
A: The question refers to the purpose of the CAPM or the Capital Asset Pricing Model. The Capital Asset…
Q: Provide correct solution and accounting
A: Step 1: Definition of FIFO and LIFO Inventory MethodsFIFO (First-In, First-Out): This inventory…
Q: Sales for Strength Corp are $725,000, cost of goods sold are $543,000, and interest expenses are…
A: Explanation of Gross Profit:Gross profit is the difference between sales and the cost of goods sold…
Q: Please provide answer this general accounting question
A: Step 1: Define Total Current Manufacturing CostsTotal current manufacturing costs refer to the sum…
Q: Balance sheet?
A: Step 1:Depreciation:-Depreciation is decrease in the value of assets. As per going concern when…
Q: General Account Subject
A: Given:Initial investment = $400,000Net cash flow in one year = $540,000Cost of capital = 10% 1.…
Q: Financial Accounting: Suppose the 2009 financial statements of 7D Company reported net sales of…
A: Concept of Receivable TurnoverReceivable turnover measures how many times a company collects its…
Q: ?? Financial accounting question
A: Step 1: Accounts Receivable Turnover RatioThe Accounts Receivable Turnover Ratio measures how…
Need answer? ? Financial accounting question
Step by step
Solved in 2 steps with 1 images
- 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?Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns and allowances $ 30,000, Cost of goods sold $ 396,500, and Operating expenses $ 84,000. (a) Compute net sales. Net sales (b) Compute gross profit. Gross profit (c) Compute income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate %24salamagundi, inc. has the following income statement: For the year ended December 31, 2021 net sales: $160 Cost of goods sold: $100 gross profit: $60 Operating expenses: $40 Net income: $20 Using vertical analysis, what percentage is assigned to operating expenses? a. 25% b. 40% c. 66.7% d. 200%
- A company reports the following amounts at the end of the year: Sales revenue Cost of goods sold Net income $ 310,000 210,000 53,000 Compute the company's gross profit ratio. (Round your final answe Gross profit ratio %Its gross margin ratio? General accountingWhat is the net income from the following statement?
- 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 OPMCalculate it's gross profit?
- A company reports the following amounts at the end of the year: Sales revenue $ 390,000 Cost of goods sold 200,000 Net income 55,000 Compute the company's gross profit ratio. (Round your final answer to the nearest whole percent.) Gross profit ratio: _____%Jester Corporation's most recent income statement appears below: Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Multiple Choice O The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to: O 23.9% Income Statement 22.3% 16.7% 31.8% $ 250,000 145,000 105,000 45,000 60,000 15,000 45,000 13,500 $ 31,500Consider the following income statement data from the Ross Company: Current Year Prior Year $962,500 $720,000 582,960 440,820 182,175 156,420 104,100 79,000 13,533 8,532 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. (Round percentages to one decimal.) Ross Company Comparative Income Statements Sales revenue Cost of goods sold Gross profit on sales Operating expenses Selling expenses Administrative expenses Total Income before income taxes Income tax expense Net income $ $ LA Current Year Prior Year (Decrease) $ $ Increase Percent Change $ LA