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hoa [83]
3 years ago
14

Consider the following information from the financial statements for Rock Inc. Last Year This Year Accounts Receivable 23,535 29

,197 Inventory 31,858 36,758 Total Current Assets 156,774 155,103 Total Assets 481,648 433,593 Total Current Liabilities 28,578 21,489 Total Liabilities 260,101 205,624 Sales 473,864 Cost of Goods Sold 142,263 Operating Expenses 148,349 Tax Expense 7 Calculate this years' gross profit ratio. (enter 2 decimal places. e.g. enter .2968 as .30)
Business
1 answer:
Nesterboy [21]3 years ago
7 0

Answer:

Rock Inc.

Gross profit ratio:

= 0.70

Explanation:

a) Data and Calculations:

Sales                      $473,864

Cost of Goods Sold 142,263

Gross profit           $331,601

Gross profit ratio = Gross profit/Sales

= $331,601/$473,864

= 0.69978

= 0.70

b) Rock's gross profit is the difference between the Sales Revenue and the Cost of Goods Sold.  It is the first profit point on the Income Statement.  It measures the company's ability to convert sales revenue into profit after accounting for the cost of goods sold.  This profit will cover the expenses incurred in running the business for the particular period.

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a bitcoin economy is the answer

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Bella Donna Company has 100,000 shares of $3 par common stock issued and outstanding as of January 1, 2018. The shares were orig
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Answer:

The balance in the paid in capital in excess of par will be $478,950.

Explanation:

As 4,210 shares is retired and each shares carries a $5 Paid-in capital in excess of par ( Issued price - Par value = $8 - $3 = $5), the retirement of 4,210 shares will include the clear of 4,210 x 5 = $21,050 in Paid-in capital in excess of par.

The beginning balance of the Paid-in capital in excess of par account = (8 -3) x 100,000 = 300,000

=> The remaining balance of the Paid-in capital in excess of par account = 500,000 - 21,050 = $478,950.

So, the answer is $478,950.

8 0
3 years ago
Your friend currently works as an accountant in a public accounting firm in a small town called stillwater in minnesota. he is o
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5 0
3 years ago
The profit, P, in dollars for manufacturing n units of a certain product is given by the formula P = 3n2 - 90n - 720. (Assume th
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Answer:

n=40

Explanation:

We want to know the value of n when P=480

P=3n^2-90n-720\\480=3n^2-90n-720\\3n^2-90n-720-480=0\\3n^2-90n-1200=0\\3(n^2-30n-400)=0\\n^2-30n-400=0

From here, we can find the factors of the quadratic equation, we need two numbers that multiplied give -400 and added -30. Since they are factors of 400, we can choose -20x20 or -40x10. When adding -20 and 20 the result is zero, but the sum of -40 and 10 is -30. Then:

n^2-30n-400=0\\(n-40)(n+10)=0\\

The solutions of the quadratic equation aren-40=0 and n+10=0:

n_1=40\\n_2=-10

Since n is a positive integer:

n=40

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2 years ago
Demand for bikes has suddenly increased, and the
soldier1979 [14.2K]

When the demand for bikes has considerably increased with a rise in price by $10, then the profit also increases by $10 on every bike sold.

<h3>What is meant by profit?</h3>

Profit is an incentive earned by a company by selling its products at a price higher than the original cost.

From the provided situation, it has been analyzed that there is a direct relationship between price and demand, which means an increase in demand leads to a rise in prices also. This will ultimately raise the profits of a company in respect of goods sold.

Therefore, the profits are also raised by $10 in a similar way as the rise in price by $10 due to an increase in demand for bikes.

Learn more about the economic profit in the related link:

brainly.com/question/15699405

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