FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- just need the headers thanksarrow_forwardAssume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit$2 Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases What is the gross margin? O $155,000 O $260,000 O $255,000 O $265,000 20,000 $30 $3 $50,000 $24,000 $19,000 $340,000arrow_forwardLIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory F Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Beginning Sale Purchase $4 Sale Purchase Sale Total Purchases $4 Total COGS Gross Margin, LIFO perpetuak Sales COGS Gross Margin %24arrow_forward
- Problem 13-5A (Algo) Comparative ratio analysis LO P3 [The following information applies to the questions displayed below.] Summary information from the financial statements of two companies competing in the same industry follows. Barco Company Kyan Company Barco Company Kyan Company Data from the current year-end balance sheets Data from the current year's income statement Assets $ 800,000 Cash $ 18,500 $ 32,000 Accounts receivable, net 40,400 Merchandise inventory Prepaid expenses Plant assets, net 84,540 6,000 370,000 52,400 130,500 7,800 303,400 $ 526,100 $ 519,440 $ 69,340 $ 99,300 103,000 196,000 Total assets Liabilities and Equity Current liabilities Long-term notes payable Common stock, $5 par value Retained earnings Total liabilities and equity 83,800 180,000 186,300 $ 519,440 127,800 $ 526,100 Sales Cost of goods sold Interest expense Income tax expense Net income Basic earnings per share Cash dividends per share. Beginning-of-year balance sheet data Accounts receivable, net…arrow_forwardHelparrow_forwardDetermine the Prior Year and Current Year common-size percents for cost of goods sold using net sales as the base. ( answers in thousands of dollars.) ($ thousands) Net sales Cost of goods sold Current Year: Prior Year: Prior Current Year $801,810 $ 453,000 Year: 392,887 134,088 Common-Size Percent for Cost of Goods Sold using Net Sales as the base: Choose Denominator: Base year net sales 801,810/ $ 453,000/ $ Choose Numerator: Analysis period net sales S S 453,000= 453,000 = Common-size percents 177.0 % 100.0 %arrow_forward
- When a company that sells its products with a positive gross profit increases its sales by15 percent and its cost of goods sold by 7 percent, the cost of goods sold ratio willa. Increase.b. Decrease.c. Remain unchanged.d. Not be able to be determined with the information providedarrow_forwardCompute cost of goods sold using the following information. Merchandise inventory, beginning Cost of merchandise purchased Merchandise inventory, ending $12,200 45.200 18,200 Cost of Goods Sold is Computed an Cost of goods sold $ Heip have t Subitarrow_forwardGiven the information below, what is the gross profit? Sales revenue Accounts receivable Ending inventory Cost of goods sold Sales returns Multiple Choice $76,000 $197,000 $79,000 $106,000 $ 345,000 60,000 118,000 239,000 30,000arrow_forward
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