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Kaylee James, a connoisseur of fine chocolate, opened Kaylee's Sweets in Collegetown on February 1. The shop specializes in a selection of gourmet chocolate candies
Kaylee James, a connoisseur of fine chocolate, opened Kaylee's Sweets in Collegetown on February 1. The shop specializes in a selection of gourmet chocolate candies and a line of gourmet Ice cream. You have been hired as manager. Your duties include maintaining the store's financial records. The following transactions occurred in February, the first month of operations a Received four shareholders' contributions totaling $29,500 cash to form the corporation: Issued 700 shares of $010 par value common stock b. Paid three months rent for the store at $1720 per month (recorded as prepaid expenses) c. Purchased and received candy for $5,700 on account, due in 60 days. d. Purchased supplies for $1,430 cash e. Negotiated and signed a two-year $14,000 loan at the bank, receiving cash at the time f. Used the money from (e) to purchase a computer for $3,200 (for recordkeeping and inventory tracking; used the balance for furniture and fixtures for the store. g. Placed a grand opening advertisement in the local paper for $440 cash; the ad ran in the current month h. Made sales on Valentine's Day totaling $3.900, $2.675 was in cash and the rest on accounts receivable. The cost of the candy sold was $2,100. Made a $570 payment on accounts payable. Incurred and paid employee wages of $1,500. K. Collected accounts receivable of $165 from customers. 1. Made a repair to one of the display cases for $135 cash. m Made cash sales of $2.800 during the rest of the month. The cost of the candy sold was $1,610. 5. After three years in business, you are being evaluated for a promotion. One measure is how effectively you managed the sales and expenses of the business. The following data are available: Total asses 3021 $90,000 2020 $53,000 2019 141,500 Ti 1000ree 46,000. 24,500 14,000 Total Mocate deity 44,008 28,500 25,500 $4,500 53,000 incurred and paid employee wages of $1.5M k Collected accounts receivable of $165 from customers I Made a repair to one of the display cases for $135 cash m. Made cash sales of $2,800 during the rest of the month. The cost of the candy sold was $1,610. 5. After three years in business, you are being evaluated for a promotion. One measure is how effectively you managed the sales and expenses of the business. The following data are available:: 2021 Total assets $90,000 2020 $53,000 2019 $41,500, Total liabilities 46,000 24,500) 16,000 Total stockholders' equity 44,000 28,500 25,500 Net sales revenue 94,500 79,500 Net income 21,300 11,900 $3,000 3,800 "At the end of 2021 Kaylee decided to open a second store, requiring loans and Inventory purchases prior to the store's opening in early 2022 5-a. Compute the net profit margin ratio for each year. (Round your answers to 1 decimal place.) Net Profit Margin Rabo 2021 2020 2019
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