Calculate the gross margin ratio for each of the following separate cases A through C:
A = ($145,000 — $83,600)/$145,000 = 42.3%
B = ($623,500 — $269,200)/$623,500 = 56.8%
C = ($37,800 — $13,230)/$37,800 = 65%
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West Corporation purchased 15,000 shares of Luffy Corporation common stock for $60 per share on January 2, 2009 . Luffy Corporation reported net income of $1,500,000 for 2009 and paid dividends of $300,000 during 2009 . Luffy has a total of 50,000 shares of common stock outstanding. The entry that would be recorded to recognize the receipt of cash dividend is:
a. Cash 90,000 Dividend Income 90,000 b. Income,Luffy Corporation Investment 90,000 Cash 90,000 c. Cash 90,000 Income,Luffy Corporation Investment 90,000 d. Cash 90,000 Investment in Luffy Corporation 90,000
What effects on a retail store's accounting equation occur when the retail store pays a third-party carrier to transport inventory to its warehouse?
A) No net effect. B) Assets and equity increase. C) Assets decrease and liabilities increase. D) Equity decreases and liabilities increase.
Computing systems that attempt to encompass and integrate all of a business’s processes in one interface are known as ___________________________________ (ERP).
Fill in the blank(s) with the appropriate word(s).
Contracting is a ______ process.
a. one-time b. continual c. temporary d. permanent