3 years ago

Rgnijdlxkdoefjinvkmw,lpeijfmodkwmeifvw

Business

1 answer:

BartSMP [9]3 years ago

7 0

It's hehhdfsjgsisgdsjsb,gvsjsvgsgejdnxgndjdgdusjehgsnskhsgzjosbdjd there's the answer XD

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Closing entries are Question 13 options: a. an optional step in the accounting cycle. b. posted to the ledger accounts from the

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D) as closing entries are apart og the accounting cycle, and only temporary accounts like expenses are closed.

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3 years ago

The following income statements were drawn from the annual reports of the Denver Company and the Reno Company: Denver* Reno* Net

Lynna [10]

Answer:

1. Gross margin percentage:

For Denver and the Reno is 53% and 27%

2. Return on sales ratio:

For Denver and the Reno is 18% and 10%

Explanation:

1. The formula to compute the gross margin percentage is shown below:

Gross margin percentage = (Gross margin) ÷ (Net sales) × 100

For Denver = ($17,760 ÷ $33,200) × 100 = 53%

For Reno = ($23,850 ÷ $86,900) × 100 = 27%

2. The formula to compute the return-on-sales ratios is shown below:

Return-on-sales ratio = (Net income) ÷ (Net sales) × 100

For Denver = ($6,000 ÷ $33,200) × 100 = 18%

For Reno = ($8,502 ÷ $86,900) × 100 = 10%

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3 years ago

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3 years ago

Micro Tech, Inc. made the following cash expenditures during current-year related to the development of a new technology which w

lilavasa [31]

Answer:

a.$348,000

Explanation:

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3 years ago

A company had total sales of $980,000, net sales of $955,800 and an average accounts receivable of $82,500. Its accounts receiva

Alenkinab [10]

Answer:

Accounts receivable turnover = 11.58

Explanation:

The total sales of the company = $980000

Net sales of the company = $955800

Average account receivable = $82500

We have total sales, net sales, and average accounts receivable. Here, we are required to find the account turnover.

Use the below formula to find the account turnover:

Accounts receivable turnover = Net sales / average accounts receivable

Now insert the values:

Accounts receivable turnover = 955800 / 82500 = 11.58

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3 years ago