FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Inc. had the following results for 2020 Sales 1940000 Accounts receivable 10000Cost of sales 318000 Net income 90000 Calculate A Inc.'s gross profit percentage

A Inc. had the following results for 2020

Sales 1940000

Accounts receivable 10000Cost of sales 318000

Net income 90000

Calculate A Inc.'s gross profit percentage for 2020.

State youranswer as a percentage and round to two decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting IFRS

Financial Accounting IFRS

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

2nd edition

1118285909, 1118285905, 978-1118285909

More Books

Students also viewed these Accounting questions

Question

★★★★★
Determine the parameters {Km} of the lattice filter corresponding to the FIR filter described by the system function H(z) = A2(z) = 1 + 2z 1 + z 2

Answered: 1 week ago

Question

★★★★★
You and a friend go out to dinner and each pay for your own meal. The total cost of the two meals is $25. Your meal cost $4 more than your friend's meal. How much does each meal cost?

Answered: 1 week ago

Question

★★★★★
What is the first-attempt pass rate for your students on the licensure exams? (Applied Programs Only)

Answered: 1 week ago

Question

★★★★★
New Horizons Co. is a high-tech firm whose owner does not have the required management expertise to run the firm. The owner wants to hire a manager with the required expertise. The continued success...

Answered: 1 week ago

Question

★★★★★
The board of directors of Carla Corp. declared cash dividends of $255,000 during the current year. If dividends payable was $90,000 at the beginning of the year and $92,500 at the end of the year,...

Answered: 1 week ago

Question

★★★★★
Quick assets are defined as: Mumble Choice Cavh, short term irvestments, and accounts payable. Cah, short term investments. and current recelvables. Cash, inventory and current receivables. Castu,...

Answered: 1 week ago

Question

★★★★★
Indicate whether each of the following expenditure items should be classified as a function (F), organization unit (OU), activity (A), character (C), or object (O). Answer is complete and correct....

Answered: 1 week ago

Question

★★★★★
You recently attended an industry conference. While there, you met up with a friend Roni, who works for a competitor. During a break, Roni implies that if you could get your company to charge for a...

Answered: 1 week ago

Question

★★★★★
Consider a firm with an EBITDA of $1,100,000 and an EBIT of $1,000,000. The firm finances its assets with $4,550,000 debt (costing 8.3 percent, all of which is tax deductible) and 203,000 shares of...

Answered: 1 week ago

Question

★★★★★
Control: On a monthly basis, the financial analyst performs the reconciliation of the AR subledger system to the general ledger. All reconciling items in excess of US$15,000 are investigated and...

Answered: 1 week ago

Question

★★★★★
TB Problem Qu. 9-402 (Static) Hislop Tech is a for-profit vocational... Hislop Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers),...

Answered: 1 week ago

Question

★★★★★
project management myths dispelled by sherwin williams case study

Answered: 1 week ago

Question

★★★★★
The quality of the proposed ideas

Answered: 1 week ago

Question

★★★★★
The number of new ideas that emerge

Answered: 1 week ago

Question

★★★★★
7. Develop a circular model, with positive and negative feedback loops, showing the following critical variables:

Answered: 1 week ago

Previous Question Next Question