Answer:
1. A company had net sales of $760,200 and cost of goods sold of $547,400. Its net income was $19,340. The company's gross margin ratio equals:______
c. 28.0%.
2. The monetary unit assumption means that all companies doing business in the United States must express transactions and events in US dollars.
A. True
3. Paid-in capital is the total amount of cash and other assets the corporation receives from its stockholders in exchange for its stock.
A. True
Explanation:
Gross profit margin is calculated by dividing the gross profit by the sales and multiplying by 100. In this case, the gross profit is $212,800 ($760,200 - $547,400). The amount, $212,800, then divided by $760,200 and multiplied by 100 to obtain approximately 28%.
The dollar is the monetary unit for all business transactions conducted in the United States. The accounting assumption behind the monetary unit means that all transactions conducted in the United STates are reported in dollars.
Given:
<span>stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185
To determine the total assets, we only have to consider the following:
</span>cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
<span>accumulated depreciation <u> (1,100) </u>
</span>Total assets: 22,930 CHOICE D.
NET INCOME:
fees earned 9,250
<span>wages expense (2,500) </span>
<span>rent expense (1,960) </span>
<span>utilities expense (775) </span>
<span>depreciation expense (250) </span>
<span>miscellaneous expense <u> (185)</u>
</span><span>Net Income 3,580
LIABILITIES AND S.H.E
</span>accounts payable 1,900
<span>notes payable 4,300 </span>
<span>common stock 1,000 </span>
<span>retained earnings 12,940 </span>
<span>dividends (790)
</span>Net Income <u> 3,580</u>
TOTAL LIABILITIES & SHE 22,930
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-Whenever countries have different opportunity costs in production they can benefit from specialization and trade.
-Benefits of specialization include greater economic efficiency, consumer benefits, and opportunities for growth for competitive sectors.
Answer:
A) kiosk
Explanation:
Based on the information provided within the question it can be said that in this scenario the vending machines in the airport is a kiosk. This term refers to physical structure which is used either to display information to passing strangers or to provide the individuals passing by with a product or service. Which in this case the structure/vending machine is providing beauty products.
