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MaRussiya [10]
3 years ago
6

Financial information is presented below:Operating expenses $ 45,000Sales returns and allowances 3,000Sales discounts 7,000Sales

revenue 160,000Cost of goods sold 96,000The gross profit rate would bea. .36.b. .64.c. .40.d. .34.
Business
1 answer:
Anit [1.1K]3 years ago
5 0

Answer:

a. 0.36

Explanation:

The computation of the gross profit rate is shown below:

Gross profit rate = Gross profit ÷ Net sales revenue

where,

Net sales revenue = Sales revenue - Sales return and allowances - sales discounts

= $160,000 - $3,000 - $7,000

= $150,000

And, the Cost of goods sold is $96,000

So, the gross profit is

= $54,000 ÷ $150,000

= 0.36

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A. a debit card

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Managing a healthcare setting today is different than it was 50 years ago. give an example of an ethical situation facing the he
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3 years ago
According to the Uniform Commercial Code's interpretation of an open quantity term, if the quantity term is left open in a contr
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3 0
2 years ago
suppose the returns on long term corporate bonds and T-bills are normally distributed. Based on the values below answer the foll
postnew [5]

Answer:

32.35% ( the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent )

Explanation:

Given data for long-term corporate bonds

Standard deviation : 8.3%

mean = 6.2%

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P( x > 10% ) = 1 - P(x<10%) = 1 - NORM-DIST (10,6.2,8.3,TRUE ) = 0.3235

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attached below is the missing part of your question

3 0
3 years ago
kala and leah partners in best designs have capital balances of $40,000 and $60,000 respectively. adam joins the partnership by
inna [77]

Answer:

The solution to the following problem is done below.

Explanation:

a) Journalize the entries to record the admission of adam to the partnership.

Account Title                                                                          Dr            Cr

Kala, Capital                                                                         20,000

Adam, Capital                                                                                       20,000

Cash                                                                                      10,000

Kala, Capital                                                                                           8,000

Leah, Capital                                                                         6,000

Adam, Capital                                                                                        24,000

b) Immediately after adam's admission to the partnership, leah sells one-fourth of her interest to denton for $35,000. journalize the entry to record the transaction.

Account Title                                                                          Dr            Cr

Leah, Capital                                                                        13,500

Denton, Capital                                                                                    13,500

6 0
3 years ago
Read 2 more answers
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