How is gross margin percent calculated?
A. Gross margin divided by net sales
B. Add operating and interest expenses together and divide by gross sales
C. Divide net profit by net sales
D. Cost of goods sold divided by gross sales
E. Net sales multiplied by gross margin
Answer: A
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Furniture World is required by law to collect and remit sales taxes to the state. If Furniture World has $78,000 of cash sales that are subject to a 6% sales tax, what is the journal entry to record the cash sales?
A. Debit Cash $78,000; credit Sales $78,000; and record the taxes when paid. B. Debit Sales Taxes Payable $4,680; debit Cash $73,220; credit Sales $78,000. C. Debit Cash $82,680; credit Sales $78,000; credit Sales Taxes Payable $4,680. D. Debit Cash $78,000; credit Sales $73,320; credit Sales Taxes Payable $4,680. E. Debit Accounts Receivable $82,680; credit Sales $78,000; credit Sales Taxes Payable $4,680.
The weighted-average breakeven point is the breakeven point for the entire company
Indicate whether the statement is true or false
She is an example of a _____________ pronoun
a. personal b. interrogative c. relative d. demonstrative
When does defamation occur in post-employment references?
What will be an ideal response?