If gross sales for the shoe department for spring were $2,675,000 and the returns in dollars were $1,284,000, what are the net sales? Write answer to two decimal places with the $ symbol, example $6,00d23
Q: During the current year, merchandise is sold for $31,850,000. The cost of the merchandise sold is…
A: Gross Profit: Gross profit represents the revenue after the deduction of cost of goods sold from the…
Q: Assume Juniper Natural Dyes made Net Sales Revenue of $90,000 and Cost of Goods Sold totaled…
A: Gross profit = Sales - Cost of Goods Sold = $90,000-$58,000…
Q: During the current year, Sokowski Manufacturing earned income of $360,000 from total sales of…
A: Sales margin formula = Income earned/Total sales = $360,000 /$6,000,000
Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…
A: A common size income statement is a statement which shows the percentage of value of each line item…
Q: Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of…
A: a. Calculate gross profit: Gross profit = Sales - Cost of goods sold Gross profit = $11,750,000 -…
Q: Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current…
A: Under vertical analysis, each line item is presented as a percentage of base figure within the…
Q: Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods…
A: Times interest earned ratio = Earnings before interest and taxesInterest expense
Q: During the current year, Sokowski Manufacturing earned income of $422,100 from total sales of…
A: Sales margin is the amount that is generated by the sale of product or services. It is calculated by…
Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…
A: The revenue and expense data of Company T are given along with the electronics industry averages.…
Q: Last year, Dogwood Company had net sales of $9,375,000 and cost of goods sold of $4,877,000. Dogwood…
A: Formula used: Inventory turnover ratio = Cost of goods sold / Average Inventory
Q: The income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of…
A: Gross profit: Gross profit is calculated after deducting the costs associated with production of…
Q: Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for…
A: The question is based on the concept of Accounting Ratios.
Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…
A: A common size income statement is similar to a regular income statement, except that each variable…
Q: Dr. Zhivàgo Diagnostics Corp.'s income statement for 20X1 is as follows: Sales $…
A: The profit margin is a calculation of the profitability of a firm, which explains the percentage of…
Q: The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000…
A: Total cost = Cost of goods sold + Operating expenses = 134,400 + 145,600 = $280,000
Q: For the fiscal year, sales were $191,350,000 and the cost of merchandise sold was $114,800,000.a.…
A: a.Calculate the amount of gross profit.
Q: Assume Juniper Natural Dyes made Net Sales Revenue of $90,000 and Cost of Goods Sold totaled…
A: Gross Profit Percentage: Gross profit percentage is the financial ratio that shows the relationship…
Q: What is the amount of gross profit?
A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…
Q: Zebra Company reports the following figures for the years ending December 31, 2019 and 2018:…
A: Given the following information: Net sales:2019: $65,0002018: $40,000 Cost of goods sold2019:…
Q: During the current year, Sokowski Manufacturing earned income of $327,600 from total sales of…
A: Sales margin means profit earned from the revenue generated from the sale of the goods or services.…
Q: Presented below is information for Ayayai Company for the month of March 2020. Cost of goods sold…
A: Gross profit is an excess value of revenue over the cost of goods sold. The gross profit rate can be…
Q: For the fiscal year, sales were $7310000, sales discounts were $120000, sales returns and allowances…
A: GROSS PROFIT : = SALES - SALES DISCOUNT - SALES RETURNS AND ALLOWANCES - COST OF GOODS SOLD
Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and…
A: Gross Profit Margin Ratio = (Gross profit/Net sales) *100 where gross profit = Net sales - Cost of…
Q: Instructions Revenue and expense data for the current calendar year for Tannenhill Company and for…
A: Common size statement is an income statement under which each item is expressed as a percentage of…
Q: Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns…
A: a. Net sales = sales revenue - sales return and allowance = $610000 - 30000 = $580,000
Q: sing the financial information presented below: Operating Expenses $ 55,000…
A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales…
Q: The following income statements were drawn from the annual reports of the Atlanta Company and the…
A: Gross margin percentage = Gross margin * 100 / Net Sales Return on sales ratio = Net Income * 100 /…
Q: Determining Cost of Goods Sold For a recent year, TechMart reported sales of $44,476 million. Its…
A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…
Q: Swank Clothiers had sales of $442,000 and cost of goods sold of $328,000. a. What is the gross…
A: Given: Sales= $ 4,42,000 Cost of good sold = $3,28,000
Q: What is the gross margin percentage
A: Gross margin is the net gain an entity recieved on selling goods without considering expense that is…
Q: Determining gross profitDuring the current year, merchandise is sold for $8,100,000. The cost of the…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: Determining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million.…
A: COST OF GOODS SOLD IS CALCULATED BY ADDING UP THE VARIOUS DIRECT COSTS REQUIRED TO GENERATE…
Q: Using the financial information is presented below: Operating Expenses $ 55,000…
A: Solution: Net sales = Sales - Sales returns and allowances - Sales discount = $160,000 - $13,000 -…
Q: Using the data below, compute lan's return on sales ratio for the month of January. Net Sales…
A: Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar of…
Q: If a retailer has revenues of $700,000, cost of goods sold that total $270,000, and operating…
A: The earning before taxes would be considered without considering the operating expenses. All these…
Q: During the current year, Sokowski Manufacturing earned income of $270,000 from total sales of…
A: Sales margin Formula = Income earned/Total sales
Q: For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191…
A: Gross margin: Difference between the sales and the cost of goods sold is called gross margin. Gross…
Q: During the current year, Sokowski Manufacturing earned income of $346,500 from total sales of…
A: Please find the answer to the above question below:
Q: Use the following multi-step income statement of Ancho Company to prepare a single-step version.…
A: Formula: Net Income = Total Revenues - Total expenses.
Q: Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of…
A: Gross profit = Sales - Cost of goods sold Net profit = Gross profit - Operating expenses Gross…
Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…
A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending inventory
Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…
A: Income statement is a statement which records the revenue and expenses of an undertaking for a…
Q: For the year, Simmons Incorporated reports net sales of $100,000, cost of goods sold of $80,000, and…
A: Gross profit: Gross profit is calculated after deducting the costs associated with production of…
Q: Our company is a manufacturer and has the following data available for the current year: sales,…
A: Sales 550000 Less: Sales discounts 20000 Less: Sales returns and allowances 15000 Net sales…
Q: Ziehart Pharmaceuticals reported Net Sales of $178,000 and Cost of Goods Sold of $58,000.Candy…
A: GP% = (sales - COGS)/sales GP% for Ziehart Pharmaceuticals = ($178000-$58000)/$178000 = 0.6742 or…
Q: During the current year, Sokowski Manufacturing earned income of $396,900 from total sales of…
A: Formula: Sales margin = Earned income / Total sales.
Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…
A: Common size income statement is income statement which shows all items of the income statement as…
Q: The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000…
A: Markup percentage = (Gross margin / Cost of goods sold) x 100
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.
- Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
- During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000 Cost of goods sold 134,400 Gross margin 201,600 Operating expenses 145,600 Operating income $56,000 (a) What is the markup percentage on cost of goods sold? (Round answer to 0 decimal places, e.g. 45%.) Markup percentage enter markup percentage rounded to 0 decimal places %
- The income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of $130,000, and cost of goods sold of $219,000. What is the amount of net salesrevenue?a. $362,000b. $492,000c. $273,000d. $349,000For the fiscal year, sales were $191,350,000 and the cost of merchandise sold was $114,800,000.a. What was the amount of gross profit?b. If total operating expenses were $18,250,000, could you determine net income?c. Is Customer Refunds Payable an asset, liability, or owner’s equity account, and what is its normal balance?d. Is Estimated Returns Inventory an asset, liability, or owner’s equity account, and what is its normal balance?Our company is a manufacturer and has the following data available for the current year: sales, $550,000; sales discounts, $20,000; sales returns and allowances, $15,000; and cost of goods sold, $200,000. What is the amount reported on the income statement for net sales? $530,000 $515,000 $500,000 $330,000
