Company had $400,000 in net sales, $100.000 in operating profit, and $50,000 in net profit. Net profit rate equals: A) 15% B) 10% C) 17.5% D) 20% E) 12.5% C Company had $800,000 in net sales, gross profit of $200,000, and net profit of $200,000. Net profit rate: OA) 30% B) 25% C) 20% OD) 15% E) 35% According to below data, what is Account Receivable Turnover? Gross credit sales $45,000. Returns and Allowances from credit sales is $5,000. Sales Discounts from credit sales $4,000. Accounts Receivable at the beginning of the year is $11,000. Allowances for Doubtful Accounts at the beginning of the year is $1,000. Accounts Receivable at the end of the year is $9,000. Allowances for Doubtful Accounts at the end of the year is $1,000. A) 5 B) 6 C) 7 D) 4 E) 8 Company X sells its $3,000 Accounts Receivables to the bank with 10% service commission. The bank transfers the necessary amount immediately to Company X's account Which of the following is correct journal entry to be recorded by Company X? A) Cash 3,000 Service Charge Expenses Sales Revenue 300 2,700 B) Cash Service Charge Expenses Sales Revenue 2.700 300 3,000 Cach 3.000 Accounts Receivable 1.000 Allowance for Doubtful Accounts 2.000 D) Cash 2.700 300 Service Charge Expenses Accounts Receivable 3.000 E) Accounts Receivable Service Charge Expenses 2.700 300 34000 If sales revenues is $400,000, cost of goods sold is $310,000, and operating expenses are $60,000, what is the gross profit? A) $340,000 B) $400,000 C) $90,000 D) $30,000 E ) $420,000