A company's gross profit was $83,750 and its net sales were $347,800. Its gross margin ratio equals:
A) 4.2%.
B) 24.1%.
C) 75.9%.
D) $83,750.
E) $264,050.
B) 24.1%.
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On November 1, 2016, Brownsville Co borrowed $80,000 from State Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. At December 31, 2016, the adjusting entry for this note includes a:
a. Debit to Interest Expense for $3,200. b. Credit to Notes Payable for $1,600. c. Credit to Cash for $4,800. d. Credit to Interest Payable for $1,600.
Many accountants argue that relevance and reliability often require trade-offs. Define both relevance and reliability and explain what is meant by "trade-offs" between relevance and reliability. Include in your explanation a specific example of where trade-offs could occur
How do companies such as the Home Shopping Network effectively utilize media-sharing sites? Provide examples, including reference to which two of the 4E frameworks are most active.
What will be an ideal response?
Suppose the parent MNC had a choice of licensing, royalties and overhead allocations to repatriate funds from its subsidiaries, which ones represent pure profit to the parent?
A) licensing and overhead allocations B) licensing and royalties C) royalties and overhead allocations D) a combination of all three