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3241004551 [841]
3 years ago
5

ABC company had sales of $5,000,000 last year. The company also had interest expense of $50,000, general and administrative expe

nse of $1,500,000 and Cost of Goods Sold of $2,000,000. What was ABC's Gross Margin and Gross Margin %
Business
1 answer:
12345 [234]3 years ago
5 0

Answer:

$3,000,000 and 60%

Explanation:

The computation of the gross margin and the gross margin percentage is shown below:

Gross margin = Net sales - cost of goods sold  

So,

= $5,000,000  - $2,000,000

= $3,000,000

And, the gross margin percentage is

= (Gross margin ÷ Sales) × 100

= ($3,000,000 ÷ $5,000,000) × 100

= 60%

All the other information i.e mentioned is not relevant. Hence, ignored it

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After Ford has recognized a trend that they would like to implement into a vehicle, they engage in _______, the development of a
avanturin [10]

Answer:

The correct answer is letter "C": design planning.

Explanation:

Design planning involves all the steps by which a firm drafts the product they would like to offer and determines what activities will be necessary to transform the draft into reality. The firm's production, marketing, and budget are also outlined at this stage to find out what resources will be necessary for the venture.  

This information is helpful for investors since they will be the ones deciding if funding the plan or not.

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4 years ago
How can an employer help develop a strong work ethic into an employee?
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3 years ago
What is the key difference between a transaction account (checking) and a time deposit (savings, CD, etc.)?
grin007 [14]

Answer:

A checking account is operated using a cheque book while a time deposit is operated by the use of a pass book

Explanation:

Here, we want to examine the difference between a transaction account and a time deposit account.

While both of these are accounts types used in banks, there are some key differences between them.

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8 0
3 years ago
At the end of the year, the deferred tax asset account had a balance of $4 million attributable to a temporary difference of $16
Alex

Answer:

1 . Dr ncome tax expense 7

Dr Deferred tax asset 4

Cr Income tax payable 11

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

Explanation:

Preparation of Journal entries

JournalDebitCredit

(In million)

1 . Dr ncome tax expense 7

($11-$4=7)

Dr Deferred tax asset 4

($16× 25% = $4)

Cr Income tax payable 11

($44 × 25% = $11 )

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

(3/4 × $4) = $3 million

Deferred tax asset= ($16× 25%)

Deferred tax asset= $4 million

Income tax payable= ($44 × 25%)

Income tax payable= $11 million

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What are core deposits and why are they so important as a funding source for commercial banks?
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<span>present day Utah is the answer 

</span>
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