COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 2, Problem 2.5SRE
To determine
Show the effect of revenues and expenses on owners’ equity by using
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How do you find the profit margin when given this information?
Revenue: $1000
Expenses: $900
Total Assets: $1500
Total Liabilites: $500
Is there a specific formula?
Answer this questions:
1. If the revenue is Php 94,810 and total expenses are Php 80,537, what is the net income?
2. If sales are equal to Php 600,480 and the costs of goods sold is equal to Php 374,789, what is the gross profit/margin?
3. If the company B has Php 1.048,150 liabilities, how much is its equity?
4. Given the following information, compute for the operating profit/margin:
GROSS SALES: Php 600,480
COSTS OF GOODS SOLD: Php 374,789
TOTAL OPERATING EXPENSES: Php 132,916
5. A company's total investements Php 1,500,000. If Return on Investments is 35% , how much is the net profit after taxes?
Net income?
Chapter 2 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 2 - What is a business transaction?Ch. 2 - Prob. 1.2SRQCh. 2 - Prob. 1.3SRQCh. 2 - Prob. 1.4SRECh. 2 - Prob. 1.5SRECh. 2 - Prob. 1.6SRACh. 2 - Prob. 2.1SRQCh. 2 - Prob. 2.2SRQCh. 2 - What information is included in the financial...Ch. 2 - Prob. 2.4SRE
Ch. 2 - Prob. 2.5SRECh. 2 - Prob. 2.6SRACh. 2 - Prob. 1CSRCh. 2 - Prob. 2CSRCh. 2 - Prob. 3CSRCh. 2 - Prob. 4CSRCh. 2 - Prob. 5CSRCh. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Describe the effects of each of the following...Ch. 2 - What is the fundamental accounting equation?Ch. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 1ECh. 2 - Prob. 2ECh. 2 - Prob. 3ECh. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Computing net income or net loss. The Computer...Ch. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Preparing a statement of owners equity and a...Ch. 2 - Analyzing the effects of transactions on the...Ch. 2 - Prob. 2PACh. 2 - Prob. 3PACh. 2 - The following equation shows the transactions of...Ch. 2 - Prob. 1PBCh. 2 - Prob. 2PBCh. 2 - Prob. 3PBCh. 2 - Prob. 4PBCh. 2 - The following account balances are for William...Ch. 2 - Richard Harris opened a gym and fitness studio...Ch. 2 - Prob. 1MFCh. 2 - Prob. 2MFCh. 2 - Prob. 3MFCh. 2 - How does an accounting system help managers...Ch. 2 - Prob. 1ED
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- Answerarrow_forwardA business has RO 250000 income and RO 60000 expenses. What is the net profit? Select one: O a. RO 160000 O b. RO 310000 O c. RO 190000 O d. RO 250000arrow_forwardIf a business received $2,000.00 from sales, this would ____. a. increase assets and increase owner's equity b. increase assets and decrease liabilities c. increase liabilities and decrease owner's equity d. decrease assets and decrease owner's equityAnswer the question and explain why did you pick this answerarrow_forward
- The liabilities of Ganern Stylist equal one-third of the total assets, and the owner’s equity is P480,000. What is the amount of the liabilities?arrow_forwardOwner's equity is OR150,000 and total liabilities are OR90,000. Total assets would be: Select one: a. OR60,000. O b. OR300,000. O c. OR240,000. O d. OR180,000.arrow_forward*entrepreneurshiparrow_forward
- The assets of a company total $736,000; the liabilities, $218,000. What is the amount of equity? Multiple Choice O $954,000. It is impossible to determine unless the amount of the owners' investment is known. $736,000. $518,000. $218,000.arrow_forwardAnswer with formulas for upvotes?arrow_forwardIf revenue was P45,000, expenses were 37,500, and the owner's equity withdrawals were 10,000, the amount of net income or net loss was choices: a.P45,000 net income b.P7,500 net income c.P37,500 net loss d.P2,500 net lossarrow_forward
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