User Account

All Pages

What is the amount of the gross profit

Assignment Help Accounting Basics
Reference no: EM132740133

Problem - Determining gross profit - During the current year, merchandise is sold for $8,100,000. The cost of the goods sold is $4,698,000.

a. What is the amount of the gross profit?

b. Compute the gross profit percentage (gross profit divided by sales).

c. Will the income statement always report an operating income? Explain.

Reference no: EM132740133

Questions Cloud

Develop an innovation framework : Develop a simple innovative framework for a business concept of your choice using the five (5) key questions (what, when, where, who, how).
Calculate the specific cost of source of financing : Toora is interested in measuring its specific and overall cost of capital because the company is willing to find out competitive advantage by this means.
Identify the stakeholders impacted by the project : Identify the stakeholders impacted by this project. Explain the patient outcome(s) or patient-care efficiencies this project is aimed at improving and explain.
Find how much is the compensation expense : How much is the compensation expense in 2009? On January 1, 2008, Milan Company granted share options to officers and key employees
What is the amount of the gross profit : During the current year, merchandise is sold for $8,100,000. The cost of the goods sold is $4,698,000. What is the amount of the gross profit
Compare the different federal safeguards : Compare and contrast the different federal safeguards that are in place to reduce financial reporting abuse.
What the exercise of the options will result in a credit : On January 1, 2008, Milan Company granted share options, What the exercise of the 18,000 options will result in a credit to Share premium - excess over par of
Feasibility analysis : A feasibility analysis is a chance to open your eyes, ask yourself some very tough questions, then check to see whether your idea, as originally conceived
Post the journal to a ledger of four-column accounts : Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y8. Post the journal to a ledger of four-column accounts

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd