All categories

2 years ago

Fill in the missing amounts.

Business

1 answer:

Marrrta [24]2 years ago

7 0

Answer:

Find my analysis below

Explanation:

The gross profit rate is the portion of net sales earned as gross profit prior to considering operating expenses as indicated by the formula below:

gross profit rate=gross profit/net sales

The profit margin measures the net income as a percentage of net sales

profit margin=net income/net sales

Crane company Sheridan company

Sales revenue $94,200 $103,000

sales returns and allowance $14,000 $3,000

Net sales $80,200 $100,000

cost of goods sold $54,200 $50,000

Gross profit $26,000 $50,000

Operating expenses $14,700 $34,400

Net income $11,300 $15,600

Gross profit rate=gross profit /net sales 32.4% 50.0%

Profit margin=net income/net sales 14.1% 15.6%

Crane company Sheridan company

Sales revenue 94200 =F5+F4

sales returns and allowance =E3-E5 3000

Net sales 80200 100000

cost of goods sold 54200 =F5-F7

Gross profit =E5-E6 50000

Operating expenses 14700 =F7-F9

Net income =E7-E8 15600

Gross profit rate=gross profit /net sales =E7/E5 =F7/F5

Profit margin=net income/net sales =E9/E5 =F9/F5

You might be interested in

Mill Company began operations on January 1,2017, and recognized income from construction-type contracts under different methods

ANTONII [103]

Answer:

i. Deferred income taxes balance on December 2019 is $192,500

ii. Deferred tax asset.

Explanation:

Year Tax purpose Book purpose Difference Deferred tax book

2017 $400,000 $0 $400,000 $140,000

2018 $625,000 $375,000 $250,000 $87,500

2019 $750,000 $850,000 ($100,000) ($35,000)

Deferred tax asset balance on December 2019 = $192,500

Working

Deferred tax book

2017 = 400,000 * 35% = $140,000

2018 = 250,000 * 35% = $87,500

2019 = (100,000) * 35% = ($35,000)

ii. Book income is less than tax income in 2017 and 2018. Deferred tax asset would be accounted. Book income is higher than tax income in 2019. Deferred tax asset would be reverse (i.e. deferred tax liability). Balance at the end of December 31, 2019 would be Deferred tax asset.

4 0

3 years ago

In Regulating the Commons, Japanese village detectives had a strict set of punishments with money sanctions for those who broke

pychu [463]

Answer True???????????????????

3 0

3 years ago

The law of demand states that price and quantity demanded are weakened by:

FrozenT [24]

Answer: Negatively related, ceteris paribus.

Explanation:

The Law of Supply and Demand holds that as the Price of a good DECREASES, the Quantity Demanded of that same good INCREASES ceteris paribus (all else being held constant).

This is why the Demand Curve slopes DOWNWARDS.

The lower the price, the more the demand.

In the graph I attached you can see how the Demand Curve slopes down showing that the lower the price, the higher the Quantity Demanded.

6 0

3 years ago

Read 2 more answers

The stock of Static Corporation has a beta of 0.7. If the expected return on the market increases by 6%, the expected return on

loris [4]

Answer: 4.2%

Explanation:

Beta is a measure of sensitivity of a stock in that it measures how the stock reacts to a movement in market return. The Beta of the Market is 1.

If a Stock's Beta is 2, this means that if expected market return increases by 1%, the stock's expected return will increase by 2%. If a Stock's beta is 0.5 then if the expected return on the market increases by 1%, the stock's expected return will increase by 0.5%.

In this case the expected return on the market increases by 6% so the expected return on Static Corporation should increase by;

= 0.7 * 6%

= 4.2%

8 0

3 years ago

The seller wants to net $65,000 from the sale of his house after paying the broker's fee of 6%. His gross sales price will be

Nitella [24]

Based on the information given his gross sales price will be:$69,149.

Gross sales price:

Using this formula

Gross sales price=Net price/(1-Broker's fee percentage)

Where:

Net price=$65,000

Broker's fee percentage=6%

Let plug in the formula

Gross sales price=$65,000/(1-6%)

Gross sales price=$65,000/94%

Gross sales price=$69,148.9

Gross sales price=$69,149(Approximately)

his gross sales price will be:$69,149.

Inconclusion his gross sales price will be:$69,149.

Learn more about gross sales price here:brainly.com/question/26103201

8 0

2 years ago