Evergreen Corporation has two major divisions: Agricultural Products and Industrial Products. It provides the following information for the year.
Calculate the profit margin ratio for the Industrial Division of the company. (Round your answer to two decimal places.)
A) 3.96%
B) 5.55%
C) 21.80%
D) 12.29%
C) 21.80%
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The store design that provides a major aisle to facilitate customer traffic with access to the store's multiple entrances is called the racetrack layout.
Answer the following statement true (T) or false (F)
On April 1, Garcia Publishing Company received $1,548 from Otisco, Inc. for 36-month subscriptions to several different magazines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. Assuming adjustments are only made at year-end, What is the adjusting entry that should be recorded by Garcia Publishing Company on December 31 of the second year?
A. debit Unearned Fees, $516; credit Fees Earned, $516. B. debit Unearned Fees, $1,548; credit Fees Earned, $1,548. C. debit Unearned Fees, $129; credit Fees Earned, $129. D. debit Unearned Fees, $1,161; credit Fees Earned, $1,161. E. debit Unearned Fees, $387; credit Fees Earned, $387.
Answer the following statements true (T) or false (F)
1. For a manufacturer, the budgeted multi-step income statement shows operating income and net income. 2. Amounts needed for the preparation of the budgeted balance sheet for a manufacturer are taken from various operating and financial budgets. 3. When a manufacturing company prepares the budgeted balance sheet, the balance of the Accounts Payable account is taken from the cash budget. 4. The cash budget of a manufacturer is comprised of three sections: cash receipts, cash payments and long-term financing. 5. Unlike a manufacturing company, the sales budget is the cornerstone for the master budget of a merchandising company.
For each of the accounts listed below, enter the words, Increase or Decrease, in the Debit and Credit columns to indicate the effects of each on the account balance. The first row has been completed for reference.AccountDebitCreditA.CashIncreaseDecreaseB.Accounts Payable??C.Accounts Receivable??D.Fees Income??E.Supplies Expense??F.Laurie Fellowes, Drawing??G.Office Equipment??H.Rent Expense??I.Office Supplies??J.Laurie Fellows, Capital??K.Prepaid Rent??
What will be an ideal response?