A company has the following account balances: Sales revenue $2,000,000: Sales Returns and Allowances $250,000: Sales Discounts $50,000: and Cost of Goods Sold $1,275,000. How much is the gross profit rate?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company has the following account balances: Sales revenue $2,000,000: Sales Returns and Allowances $250,000: Sales Discounts $50,000: and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Flitter reported net income of $20,500 for the past year. At the beginning of the year the company had $206,000 in assets and $56,000 in liabilities. By the end of the year, assets had increased to $306,000 and liabilities were $81,000.
Answers (1)
In which of the following performance spaces does the audience surround the stage? A) thrust B) in the round C) black box D) proscenium
Answers (1)
Information on Westcott Corporation's direct labor costs for a recent month follows: Standard direct labor rate $ 3.75 per hour Actual direct labor rate $ 3.
Answers (1)
A man buys a racehorse for $20 comma 00020,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $70 comma 00070,000.
Answers (1)
Rapid economic growth: has occurred periodically over the past 1000 years. occurred mostly between 300 and 500 years ago. never actually exceeds 2% per year. is relatively new in the context of history.
Answers (1)
New Questions in Business
Assume that total costs assigned to the setup activity cost pool in March are $120,000 and 100 setups were completed in March. Further, assume that during March machines were setup 20 times to make product X5.
Answers (1)
The accounting cycle starts with a. closing out the periodic accounts. b. recording the transaction based on the information in a source document. c. preparing the financial statements. d. preparing the adjusting entries.
Answers (1)
Ratemakers at ABC Insurance Company calculated the pure premium to be $280 for a risk they were considering insuring. What is the gross rate for this risk, assuming a 30 percent expense ratioA) $364 B) $400 C) $430 D) $520
Answers (1)
When plant assets are purchased as a group in a single transaction for a lump-sum price, the cost of the purchase is allocated among the different types of assets acquired based on their relative market values. true or false
Answers (1)
What are the security and management issues concerning virtual offices, especially hooked up into large virtual networks?
Answers (1)