Answer:
The correct order of the question is below:
The gross margin ratio: 1- Is also called the net profit ratio. 2- Indicates the percent of sales revenue remaining after covering the cost of the goods sold. 3- Is also called the profit margin. 4- Is a measure of liquidity and should exceed 2.0 to be acceptable. 5- Should be greater than 1 for merchandising companies.
The answer is 2. Indicates the percent of sales revenue remaining after covering the cost of the goods sold.
Explanation:
Gross profit is the difference between cost of sales and net sales revenue and gross profit margin is calculated by gross profit divided by net sales revenue. It can be expressed as a percentage.
This margin is the first measure of profitability.
Option 1 is wrong. Net profit ratio is the ratio of net profit to sales revenue. Net profit is after all expenses and tax have been deducted from revenue.
Option 4 is wrong. This is not a measure of liquidity. Current ratio and quick ratio are a measure of liquidity.
Option 3 and 5 are wrong
Answer:
Part 1
Revised depreciation expense = $32,000
Part 2
The entry to record depreciation expense :
Debit : Depreciation Expense $32,000
Credit : Accumulated Depreciation $32,000
Explanation:
Straight line method charges a fixed depreciation charge over the year of use of an asset.
<em>Depreciation expense = (Cost - Salvage Value) ÷ Estimated Useful Life</em>
2021
Depreciation expense = $80,000
2022
Old Depreciation expense = $80,000
New Depreciation expense = Depreciable Amount ÷ Remaining Useful Life
= ($240,000 - $80,000) ÷ 5
= $32,000
Q. Describe at least three steps you should take after finding out that your credit card was stolen.
A.
1st: report to your card issuer
2a: check if it has been used
2b: report the fraudulent use to the reporting agencies
3: try remembering last locations and other information
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I hope that helps you out!!
Any more questions, please feel free to ask me and I will gladly help you out!!
~Zoey
Answer:
The correct answer is letter "B": An addition which increases future benefit.
Explanation:
An asset is a resource of economic value. Individuals, companies, and countries expect their own assets to generate economic benefits both now and in the future. Assets may be tangible, such as machinery and land or intangible, including products such as a trademark, a mechanical formula or property rights.
The accounting term addition <em>refers to the subsequent acquisition of a plant, property, or equipment. Therefore, they are to be considered as assets at the moment of recording them.</em>
