Answer and Explanation:
amount borrowed = $10,000
interest rate =12%
interest accrued = $10,000*12%*1/12
= $100
date general journal debit credit
jan 31 interest expense 100
interest payable 100
The profit margin is the financial gain from a sale after the costs of providing the sold product have been deducted. Thus, the statement is true.
<h3>What is the profit margin?</h3>
Profit margin is the portion of sales that a company keeps after all costs are subtracted. It essentially displays the percentage of each dollar of sales that is kept as profit. A 15% profit margin, for instance, means that a company keeps $0.15 from every dollar of sales produced.
Comparing the firm's operations to those of a best-in-class company, maybe in a different industry, is another way to increase your profit margin. This comparison could point out several operational tweaks that could be done to raise profit margins.
Learn more about profit margin, here:
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Answer:
$90
Explanation:
Hollister has an offer of 10% savings for every purchase.
Jason buys clothes for $100. His savings will be 10% of $100
=10/100 x100
=0.1 x 100
=$10
Jason will pay
=$100 - $10
=$90
Jason will pay $90
Answer:
a. $26,720
Explanation:
Before computing the accumulated depreciation, first we have to compute the original cost of the equipment, after that the depreciation expense. The calculation is shown below:
Original cos t = Equipment purchase cost + freight charges + installment charges
= $68,000 + $2,800 + $8,000
= $78,800
Now the depreciation expense under the straight-line method is shown below:
= (Original cost - residual value) ÷ estimated life in years
= ($78,800 - $12,000) ÷ 5 years
= $13,360
Now the accumulated depreciation is
= Depreciation expense × number of years
= $13,360 × 2 years
= $26,720
