menu
bartleby
search
close search
Hit Return to see all results
close solutoin list

Gross profit percent and markup percent Deere & Company (DE) produces and sells tractors, loaders, combines, lawnmowers, and a variety of other equipment. The following data (in millions) were adapted from recent financial statements of Deere. Compare the results in parts (1) and (2) for ‘tears 1 and 2. Comment on your comparison.

BuyFindarrow_forward

Survey of Accounting (Accounting I)

8th Edition
Carl Warren
Publisher: Cengage Learning
ISBN: 9781305961883

Solutions

Chapter
Section
BuyFindarrow_forward

Survey of Accounting (Accounting I)

8th Edition
Carl Warren
Publisher: Cengage Learning
ISBN: 9781305961883
Chapter 4, Problem 4.7.3MBA
Textbook Problem
1 views

Gross profit percent and markup percent
Deere & Company (DE) produces and sells tractors, loaders, combines, lawnmowers, and a variety of other equipment. The following data (in millions) were adapted from recent financial statements of Deere.

Chapter 4, Problem 4.7.3MBA, Gross profit percent and markup percent Deere & Company (DE) produces and sells tractors, loaders,

Compare the results in parts (1) and (2) for ‘tears 1 and 2. Comment on your comparison.

To determine

Concept Introduction:

Gross Profit ratio:

Gross profit ratio is calculated by dividing the gross profit by sales. The formula to calculate the gross profit ratio is as follows:

  Gross Profit = Gross ProfitSales 

To Indicate:

The comparison for year 2 and year 1

Explanation of Solution

The Gross Profit % for Years 1 and 2 are calculated as follows:

    Year 2Year 1
    Gross Profit (A) $ 8,720 $ 11,291
    Sales (B) $ 28,863 $ 36,067
    Gross Profit (% = (A/B)30.2%31...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 4 Solutions

Survey of Accounting (Accounting I)
Show all chapter solutions
add
Ch. 4 - When you purchase a new car, the “sticker price”...Ch. 4 - How are sales to customers using MasterCard and...Ch. 4 - Differentiate between the multiple and single-step...Ch. 4 - What are the mar advantages and disadvantages of...Ch. 4 - Can a business earn a gross profit but incur a net...Ch. 4 - What type of revenue is reported in the Other...Ch. 4 - Office Outfitters Inc., which uses a perpetual...Ch. 4 - Determining gross profit During the current year,...Ch. 4 - Determining cost of goods sold For a recent year,...Ch. 4 - Purchase-related transaction Burr Company...Ch. 4 - Purchase-related transactions A retailer Is...Ch. 4 - Purchase-related transactions Milan Co., a women’s...Ch. 4 - Purchase-related transactions Illustrate the...Ch. 4 - Determining amounts to be paid on invoices...Ch. 4 - Sales-related transactions, including the use of...Ch. 4 - Sales-related transactions After the amount due on...Ch. 4 - Sales-related transactions Merchandise is sold on...Ch. 4 - Sales tax A sale of rnerchandi.st on account for...Ch. 4 - Sales tax transactions Illustrate the effects on...Ch. 4 - Sales-related transactions Steritech Co., a...Ch. 4 - Purchase-related transactions Based on the data...Ch. 4 - Adjustment for merchandise inventory shrinkage...Ch. 4 - Adjustment for Customer Refunds and Returns Assume...Ch. 4 - Income statement for merchandiser The following...Ch. 4 - Multiple-step income statement On March 31, 20Y5,...Ch. 4 - Single-step income statement Summary operating...Ch. 4 - Multiple-step income statement Identify the enurs...Ch. 4 - Purchase-related transactions The following...Ch. 4 - Sales-related transactions The- following selected...Ch. 4 - Sales and purchase-related transactions for seller...Ch. 4 - Multiple-step income statement and report form of...Ch. 4 - Multiple-step income statement and report form of...Ch. 4 - Multiple-step income statement and report form of...Ch. 4 - Multiple-step income statement and report form of...Ch. 4 - Single-step income statement Selected accounts and...Ch. 4 - Single-step income statement Selected accounts and...Ch. 4 - Appendix Statement of cash flows using indirect...Ch. 4 - Appendix Statement of cash flows using indirect...Ch. 4 - Purchase transactions Using transactions listed in...Ch. 4 - Sales transactions Using transactions listed in...Ch. 4 - Inventory shrinkage Using adjustment data listed...Ch. 4 - Customer refunds and returns Using adjustment data...Ch. 4 - Gross margin percent and markup percent Target...Ch. 4 - Gross margin percent and markup percent Target...Ch. 4 - Gross margin percent and markup percent Target...Ch. 4 - Gross profit percent and markup percent Compare...Ch. 4 - Gross profit percent and markup percent Deere &...Ch. 4 - Gross profit percent and markup percent Deere &...Ch. 4 - Gross profit percent and markup percent Deere &...Ch. 4 - Gross profit percent and markup percent...Ch. 4 - Gross profit percent and markup percent...Ch. 4 - Gross profit percent and markup percent...Ch. 4 - Gross profit percent, markup percent, and ratio of...Ch. 4 - Gross profit percent and markup percent Companies...Ch. 4 - Gross profit percent and markup percent Companies...Ch. 4 - Gross profit percent and markup percent Companies...Ch. 4 - Ethics and professional conduct in business On...Ch. 4 - Purchases discounts and accounts payable The...Ch. 4 - Determining cost of purchase The following is an...Ch. 4 - Determining cost of purchase The following is an...Ch. 4 - Sales discounts Your sister operates Harbor Ready...Ch. 4 - Sales discounts Your sister operates Harbor Ready...Ch. 4 - Sales discounts Your sister operates Harbor Ready...Ch. 4 - Shopping for a television Assume that you are...

Additional Business Textbook Solutions

Find more solutions based on key concepts
Show solutions add
The cash received in advance before delivering a product or performing a service is called unearned revenue.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

DEFAULT RISK PREMIUM The real risk-f nee rate, r, is 2.5%. Inflation is expected to average 2.8% a year for the...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)