Presented below is financial information for two different companies.Instructions(a) Determine the missing amounts.(b) Determine the gross profit

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Presented below is financial information for two different companies.Instructions(a) Determine the missing amounts.(b) Determine the gross profit rates. (Round to one decimalplace)

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Oct 24, 2011 08:01 AM

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Presented below is financial information for two different companies.Instructions(a) Determine the missing amounts.(b) Determine the gross profit

Question:

Dae Company Kim Company Sales revenue Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income (d) $ 5,000 102,000 (e) $90,000 (a) 87,000 56,000 (b) 15,000 (c) 41.500 (f) 15,000

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