Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help figuring out the Gross Profit Percentage. Preliminary Analytics - PBC Trial Balance December 31, 2019 Scope: Performance Materiality = $210,000 and 10%

image text in transcribed

I need help figuring out the Gross Profit Percentage.

Preliminary Analytics - PBC Trial Balance December 31, 2019 Scope: Performance Materiality = $210,000 and 10% 12/31/19 Balance 12/31/18 Balance Account Class Variance % Variance (931,393) 3,846,482 (631,355) (1,218,201) 427,347 322,900 2,780,678 (19,680) 184,564 649,786 873,950 Cash Investments Accounts Receivable Inventory Prepaids and Other Assets Fixed Assets Intangibles Current Portion of Debt Accounts Payable Accruals and Other Liabilities Long Term Debt Common Stock APIC AOCI Retained Earnings Revenues Cost of Goods Sold Other Income SG&A Depreciation Interest Expense Income Tax Expense 1,940,636 17,884,359 1,739,185 2,278,220 3,046,824 2,049,917 4,723,026 (873,950) (1,049,324) (1,805,961) (5,541,772) (1,000,000) (5,000,000) 681,275 (10,721,842) (38,567,154) 18,223,005 (1,324,646) 10,392,187 699,100 372,887 1,854,028 2,872,029 14,037,877 2,370,540 3,496,421 2,619,477 1,727,017 1,942,348 (854,270) (1,233,888) (2,455,747) (6,415,722) (1,000,000) (5,000,000) (1,384,240) (4,564,183) (37,995,152) 17,911,437 (1,684,417) 11,685,148 678,100 460,337 2,786,888 -32% 27% -27% -35% 16% 19% 143% 2% -15% -26% -14% 0% 0% -149% 135% 2% 2% -21% -11% 3% -19% -33% 2,065,515 (6,157,659) (572,002) 311,568 359,771 (1,292,961) 21,000 (87,450) (932,860) Total Assets 33,662,167 29,065,709 Total Libilities 9,271,007 10,959,627 Total Equity 24,391,160 18,106,082 Net Income 8,350,593 6,157,659 Gross Profit %

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

Acca Financial Reporting Practice And Revision Kit

Authors: BPP Learning Media

1st Edition

1509738053, 978-1509738052

More Books

Students also viewed these Accounting questions

Question

Explain in detail how the Mughal Empire was established in India

Answered: 1 week ago

Question

Problem: Evaluate the integral: I - -[ze dx

Answered: 1 week ago

Question

Problem: Evaluate the integral: I = 1- 1 dx 9

Answered: 1 week ago