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- Calculate the gross profit percentage for 2022 with comparative figures Discuss 3 ways in which the gross profit margin can be improved 2022 R 2021 R Sales (all credit) 1 435 400 1 685 400 Cost of sales (all credit) (778 700) (825 600)nku.31. Selected data for ABC Co. for 2020 are as follows: Decrease in merchandise inventory: P20,000 increase in accounts payable: P50,000 Disbursements for purchases of merchandise: P580,000. How much is the 2020 Cost of goods sold? * a.P510,000 b.P550,000 c.P610,000 d.P650,000 e. answer not given 2. The following expenses were recognized by CBA Co., a retailer, during 2020: Interest expense: P120,000 Telephone expense: P95,000 Loss on sale of store equipment: P47,000 Legal fees: P74,000 Officers’ salaries: P115,000. How much should CBA Co. report as general and administrative expenses for 2020? * a.P210,000 b.P284,000 c.P330,000 d.P404,000 e. answer not given 3.Positivity Company provided the following information on December 31, 2020 ( in their normal balances): Accounts Receivable- 350,000; Accounts payable - 200,000; Accrued Expenses - 150,000; Building in progress - 500,000; Cash in bank - 200,000; Cash surrender value - 150,000; Merchandise Inventory - 580,000; Office equipment…
- A customer paid a total of $7700 for a purchase, including 13% HST (Harmonized Sales Tax). How much was the HST? 1. $911 2. $6885 3. $886 4. $7700Calculate the missing amounts. (Loss amounts should be Indicated with a minus sign and input all other amounts as positive velues. Do not round Intermedlate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2020 2019 2020 2019 Sales 263,000 187,000 48,500 Sales discounts 2,630 1,200 570 Sales returns and allowances Net sales 16,700 6,200 168,950 45,500 Cost of goods sold 157,100 57,700 Gross profit from sales 51,700 49,100 22,100 Selling expenses 18,620 19,700 25,700 Administrative expenses 26,300 30,400 9,700 Total operating expenses 47,400 Profit (loss) 15,100 2,700 Gross profit ratio % %D Traders purchased a product for R1 450 (excluding VAT). It was resold for R2 100 (excluding VAT) Calculate the mark-up on cost for this product.
- cost of P500,000. Required: Compute the cost charged to cost of goods sold. а. b.Required information [The following information applies to the questions displayed below.] Foster Supplies is a wholesaler of hair supplies. Foster Supplies uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $34,917). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $390). c. Sold merchandise (costing $9,595) to a customer on account with terms n/60. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $310) after year-end from sales made during the year. $ 62,080 420 20,200 10,100 194 430b. Sarah purchases a set of furniture for RM3956.52 and sells it at X ringgit. If the operating expenses are 15% of the cost and the net profit is 35% on the retail price compute the: i. value of X ii. breakeven price iii. maximum markdown percent that could be offered without incurring any loss. iv. net profit or loss of Sarah sells at RM 4220.
- Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes Taxes (35%) Income after taxes. LANCASTER CORPORATION a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 259,000 209,000 $ 50,000 24,500 $ 25,500 19,000 $ 6,500 2,275 $ 4,225from the following tralasaction, prepar in come Statement Sales reven ue tinished Goeds 50006 Net purchases lo o00 rent expenses 250 000 returns sales lo o 00 3000 So00 6 vent revenue administrutive Expensese 2e0 Sales salaries looo Depreriation other expensese tax income tooo t500-6 finished goads 34 7o00 . toooNo. 10. year 2011 Sales loss 8.00,000 2012 45,000 3,75,000 Calculate: Piv Ratio BEP a Sale Rs. 4,00,000 on Sale on a desized prefit of Rs S0,00 O margin of Solet y for the year