Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help with this, which ones am i missing and i also need help calculating the gross profit rate Net Sales Sales Revenue 410000 Less

please help with this, which ones am i missing and i also need help calculating the gross profit rate image text in transcribed
image text in transcribed
Net Sales Sales Revenue 410000 Less VE Sales Returns and Allowances 11000 Sales Revenue 399000 154000 Gross Profit 154000 Freight-Out 7000 Insurance Expense 5000 Salaries and Wapes Expense 63000 1 Rent Expense 36000 Sales Discounts 8000 Total Operating Expenses 7 219000 Net Income (Loss) 35000 $ 35000 Net Income to eTextbook and Media List of Accounts Your answer is incorrect Compute the gross proftrate Round wwer to 1 decima 52.7%) Gross proftrate eTextbook and Media List of Accounts

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

Students also viewed these Accounting questions