Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Calculate the gross margin percentage?
Calculate the gross margin percentage by using the following formula
Grossmargin percentage = Grossmargin/Net sales
To show the use of this ratio considers the following information from the 2000 Annual Report of Abercrombie & Fitch.
($ millions) 2000 1999 1998
Revenues $ 1,238.6 $ 1,030.9 $ 805.2
Gross profit 509.4 450.4 331.4
Gross profit (margin)
Percentage $509.5/$1,238.6 = 41.13% $450.4/$1,030.9=43.69% $331.4/$805.2= 1.16%
Abercrombie's gross margin held at a relatively high 41-43 percent over those three years. You must now understand the distinction between accounting for a service company and a merchandising company. The next section persist the discussion of merchandise inventory carried by merchandising companies.
After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debi
entry for bad debts provision
If on the opening day of business, you put in supplies worth $250 and $3000 cash, would that be considered a transaction OR would it be considered your beginning balances because
Q. Maplehurst Company? Maplehurst Company manufactures huge spinning machines for the textile industry. The company had purchased USD 100000 of small hand tools to utilize in i
An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liabil
Q. Show Accumulated depreciation account with example? Micro Train credits the depreciation amount to an accumulated depreciation account which is a contra asset rather than di
Explain the process involved in accounting
Secret Trails received payment in full within the credit period for horse boarding for $900 plus 6% sales tax. terms of the sale were 2/10, n/30. which entry is required to record
Q. What is Intangible Assets? Intangible assets consist of the nonmonetary, noncurrent, nonphysical assets of a business. Companies should charge the costs of intangible assets
Q. Inventories and revenue recognition? Management make a decision which inventory costing method or methods (LIFO, FIFO, and so on.) to use. As well, management should determi
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd