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aliya0001 [1]
2 years ago
10

macarthy landscape supply's selected accounts follow Selling Expenses $12,900 Interest Revenue 900 Net Sales Revenue 134,700 Cos

t of Goods Sold 114,000 Administrative Expense 10,200 compute gross profit percentage
Business
1 answer:
Thepotemich [5.8K]2 years ago
7 0

Answer:

15.37%

Explanation:

Computation of the gross profit percentage

First step is to calculate the Gross profit using this formula

Gross profit = Net sales revenue - Cost of goods sold

Let plug in the formula

Gross profit= $134,700 - $114,000

Gross profit= $20,700

Now let determine the Gross profit percentage using this formula

Gross profit percentage = Gross profit / net sales revenue

Let plug in the formula

Gross profit percentage= $20700/ $134700

Gross profit percentage= 15.37%

Therefore Gross profit percentage is 15.37%

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Rao Construction recently reported $28.00 million of sales, $12.60 million of operating costs other than depreciation, and $3.00
stich3 [128]

Answer:

a. $12.40

Explanation:

EBIT stands for earnings before interest and taxes; therefore, interest and taxes rates should not be considered. The EBIT is determined as the amount from sales deducted by operating costs and depreciation. The EBIT is:

EBIT = \$28.00-\$12.60-\$3.00\\EBIT=\$12.40

The answer is alternative a. $12.40.

6 0
3 years ago
One identical unit is purchased on each of the following three dates and at the respective costs: June 1 at $10 June 2 at $15 Ju
Oksi-84 [34.3K]

Answer:

B. The June 1 at 10 and the June 2 at $15 are both sold; the July 4 unit remains in ending inventory.

Explanation:

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

2 units were sold. the June 1 and June 2 units would be the items sold because they were the first to be purchased according to the dates.

the ending inventory would be the the July 4 unit

8 0
3 years ago
"A customer holds 1,000 shares of ABC stock valued at 80 in a margin account. The debit balance in the account is $35,000. ABC d
Sedaia [141]

Answer: Reduction of cost basis per share

Explanation:

It should be noted that Under IRS rules, when stock dividends are being received, they are not taxable at that particular time as shareholders haven't gotten any return from the stock yet.

The Stock dividend will then lead to reduction in cost basis per share. Therefore, based on the scenario in the question, the tax consequence of the distribution to the investor will be reduction of cost basis per share.

4 0
3 years ago
Question # 6
Lina20 [59]

Answer: Import quota

Explanation:

Import quotas are a means of controlling trade into a country. It is usually done because the good being imported is produced in the importing country but when it is imported it is cheaper which will have the effect of harming the domestic producers.

Import quotas will restrict trade by limiting the amount of the specific good that can be imported into the country within a given period. For instance, the U.S. mandating that only 30,000 tonnes of sugar may come into the country in a year. After that amount, no more sugar will be allowed in.

4 0
2 years ago
A customer is considering buying a television set with a retail price of $2,000. The customer asks the store manager if the stor
JulsSmile [24]

Answer:

Credit sales $1,852 and credit sales tax payable $148

Explanation:

When a sale is made the sales of the business increases and so sales is credited while inventory goes down and is debited.

In this scenario a customer made a purchase of $2,000 so there is an increase in sales of the business.

However the business has agreed to pay the tax on the sale with sale amount and tax totalling $2,000.

2,000 = Sale amount + Sale amount (0.08)

2,000 = 1.8 (sale amount)

Sale amount = 2,000 ÷ 1.08 = 1,851.85 ~ $1,852

Sales tax = 2,000 - sales amount

Sales tax = 2,000 - 1,852 = $148

Sir we will Credit sales $1,852 and credit sales tax payable $148

7 0
3 years ago
Read 2 more answers
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