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The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash $ 225,300 Accounts receivable 51,000 Interest receivable 20,000 Notes
The adjusted trial balance for Chiara Company as of December 31, 2017, follows.
Debit | Credit | |||||
Cash | $ | 225,300 | ||||
Accounts receivable | 51,000 | |||||
Interest receivable | 20,000 | |||||
Notes receivable (due in 90 days) | 172,000 | |||||
Office supplies | 16,000 | |||||
Automobiles | 169,000 | |||||
Accumulated depreciationAutomobiles | $ | 105,000 | ||||
Equipment | 146,000 | |||||
Accumulated depreciationEquipment | 19,000 | |||||
Land | 84,000 | |||||
Accounts payable | 103,000 | |||||
Interest payable | 40,000 | |||||
Salaries payable | 23,000 | |||||
Unearned fees | 34,000 | |||||
Long-term notes payable | 152,000 | |||||
Common stock | 29,580 | |||||
Retained earnings | 266,220 | |||||
Dividends | 54,000 | |||||
Fees earned | 574,000 | |||||
Interest earned | 36,000 | |||||
Depreciation expenseAutomobiles | 28,000 | |||||
Depreciation expenseEquipment | 21,500 | |||||
Salaries expense | 191,000 | |||||
Wages expense | 47,000 | |||||
Interest expense | 34,000 | |||||
Office supplies expense | 33,800 | |||||
Advertising expense | 64,000 | |||||
Repairs expenseAutomobiles | 25,200 | |||||
Totals | $ | 1,381,800 | $ | 1,381,800 | ||
2. Calculate the profit margin for year 2017.
Profit Margin Choose Numerator:I Choose Denominator: Profit Margin Profit margin
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