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

Question

1 Approved Answer

please answer as soon as possible Apply concepts from pages 6-1 through 6-4 and page 6-7 of the VLN to answer the following: The company

please answer as soon as possible image text in transcribed
Apply concepts from pages 6-1 through 6-4 and page 6-7 of the VLN to answer the following: The company sales were $500,000 they had $10,000 in sales discounts and cost of good sold of $320,000 and operating expenses totaling $120,000. What is the company's gross profit ratio? Carry it out to 1 decimal place. Do not include the % sign in your answer. _%

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

Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities

Sound Investing, Chapter 6 - Valuation Of Assets And Liabilities

Authors: Kate Mooney

1st Edition

0071719288, 9780071719285

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following items may or may not be relevant to a company's bank reconciliation: 1. The company recorded a deposit as $540, but it correctly cleared the bank for $450. 2. A check recorded for...

Answered: 1 week ago

Question

★★★★★
5 Suppose the annual return on Disney stock follows a normal distribution, with mean .12 and standard deviation .30. a What is the probability that Disneys value will decrease during a year? b What...

Answered: 1 week ago

Question

★★★★★
Events occur according to a Poisson process with rate . Each time an event occurs, we must decide whether or not to stop, with our objective being to stop at the last event to occur prior to some...

Answered: 1 week ago

Question

★★★★★
Revenue recognition at and after time of sale. Assume that during December 2008, Nordstrom sold $20 million of merchandise and another $12 million of gift cards, of which $24 million was on credit...

Answered: 1 week ago

Question

★★★★★
On January 1, 2014, Novotna Company purchased $432,800, 8% bonds of Aguirre Co. for $383,865. The bonds were purchased to yield 11% interest. Interest is payable semiannually on July 1 and January 1....

Answered: 1 week ago

Question

★★★★★
Micro Spinoffs Inc. issued 10-year debt a year ago at par value with a coupon rate of 8%, paid annually. Today, the debt is selling at $1,160. If the firms tax bracket is 35%, what is its percentage...

Answered: 1 week ago

Question

★★★★★
Your firm-has A/P with credit terms of 1/15, net 30. What is the annualized cost of skipping the discount on day 15 and paying the full invoice amount on day 30? 24.6% 37.2% 18.6% 8.1%

Answered: 1 week ago

Question

★★★★★
total monthly production costs are 10,000 on a lot of 250 units. you sell each unit for $150. If all 250 units sell each month, how would you calculate your annual profit

Answered: 1 week ago

Question

★★★★★
One way to determine the trend of a data set is to find ______________________. Question 36 options: a) percentage of non-overlapping data b) the split middle line of progress c) percentage of...

Answered: 1 week ago

Question

★★★★★
The annual salaries for 5 randomly selected people: Diana: $154,500 Clark: $76,000 Lois: $119,350 Bruce: $2,350,000,000 Barry: $68,000 Which would be the best measure of central tendency for this...

Answered: 1 week ago

Question

★★★★★
Your clients expect a 10% return on investment for podcast and a 15% ROI for TV ads. How would you calculate the expected profit for a client who invests $5500 on a podcast ad and $10,000 for a TV ad

Answered: 1 week ago

Question

★★★★★
What are some of the security considerations organizations must understand when implementing a human resource information system?

Answered: 1 week ago

Question

★★★★★
LO2 Discuss the constraints faced in a typical recruitment process.

Answered: 1 week ago

Question

★★★★★
What are some popular approaches to matching the supply of and demand for human resources? Briefly discuss two approaches (each) for situations when demand exceeds and is less than supply of human...

Answered: 1 week ago

Previous Question Next Question