FINANCIAL AND MANAGERIAL ACC VOL 2 W/CON
FINANCIAL AND MANAGERIAL ACC VOL 2 W/CON
9th Edition
ISBN: 9781266907838
Author: Wild
Publisher: MCG/CREATE
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Chapter 9, Problem 7QS
To determine

Concept Introduction

Journal entries: The entries that explain the impact of transactions and the way they influence accounts are stated as journal entries. They serve as a record of all transactions made by a business. The information in journal entries serves as the foundation for all financial reporting. In a business journal, transactions are often entered using the double-entry method.

To Prepare: The journal entry for the employee payroll taxes.

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The fiscal 2010 financial statements for Neptune, Inc report revenues of $14,892,615, net operating profit after tax of $987,625, net operating assets of $6,124,587. The fiscal 2009 balance sheet reports net operating assets of $5,995,633. What is Neptune s 2010 net operating profit margin?
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Chapter 9 Solutions

FINANCIAL AND MANAGERIAL ACC VOL 2 W/CON

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