Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 7, Problem 3R
To determine
Print the worksheet and print formulae.
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Gentry Co. reported total gross sales of $320,000, with 60% of these being credit sales. Sales returns and allowances of $18,000 apply only to the credit sales. A 1.5% sales discount was taken on all net credit sales. Additionally, credit card sales amounted to $110,000 and were subject to a 2.5% credit card fee. What is the dollar amount of net sales?
Alicia Industries has a net income of $89,000 and total assets of 445,000. What is the return on assets? A) 18% B) 20% C) 21.2% D) 15%
Chapter 7 Solutions
Excel Applications for Accounting Principles
Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Prob. 3RCh. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - What changes would have taken place if Dels...Ch. 7 - Suppose Dels purchase prices had remained...Ch. 7 - Del Rio began Rio Enterprises on January 1 with...Ch. 7 - Reset the November 20 purchase to 150 units,...Ch. 7 - Click the Chart sheet tab. On the screen is a...
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