Homework Answers
| Gross Profit | 123000 |
| Divide by Sales | 436000 |
| Gross Profit ratio | 28% |
| 28% is correct option | |
Add Answer to:
Saved Help Save Thompson TV and Appliance reported the following in its 2021 financial statements: 7...
MC Qu. 79 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its...
MC Qu. 79 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 $424,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 78,000 328,000 406,000 88,000 318, eee $106,000 Thompson's 2018 inventory turnover ratio is: (Round your answer to two decimal places.)
Hep Jave Thompson TV and Appliance reported the following in its 2021 financial statements: 2021 $420,000...
Hep Jave Thompson TV and Appliance reported the following in its 2021 financial statements: 2021 $420,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 82,000 340,000 422,000 86,000 336,000 $ 84,000 Thompson's 2021 inventory turnover ratio is: Multiple Choice 3.91 4.00. 4.88 5.00
MC Qu. 78 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its...
MC Qu. 78 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 $424,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale 62,000 330,000 392, е00 Inventory, December 31 Cost of goods sold 101,000 291,000 $133,000 Gross profit Thompson's 2018 gross profit ratio is: (Round your answer to the nearest whole percentage.)
Help Save G. Ex A company overstated its ending inventory balance by $7000 in 2021 What...
Help Save G. Ex A company overstated its ending inventory balance by $7000 in 2021 What impact will this error have on cost of goods sold and gross profit in 2021 and 20222 Cost of goods sold Gross profit 2022 Cost of goods sold Gross profit
4 i Saved Help Save Fun the banks in the following separate income statements a through...
4 i Saved Help Save Fun the banks in the following separate income statements a through e. Amounts to be deducted should by a minus sign.) d $ 68,000 b $ 43,600 $ c 56,000 e 25,500 los 16,950 6,500 8,000 59,000 Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 7,400 29,000 (7.100) 4,550 5,200 (2,500) 17,000 (8,100) 33.720 7,600 22,000 3,200...
40 Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 $309,000...
40
Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 $309,000 7,500 $301,500 2020 $304,000 5,900 $ 298,100 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 44,000 149,000 193,000 61,000 132,000 $169,500 27,000 144,000 171,000 44,000 127,000 $171,100 ATC's gross profit ratio (rounded) in 2021 is: (Round your answer to one decimal place e.g.,...
Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements....
Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $142,000 $112.000 Cost of goods sold Operating expenses 85,200 29,820 17,200 67,200 14,560 9,200 Income tax expense Net income $ 9,780 $ 21,040 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 2022 2021 Gross profit rate Profit margin
Appliance Apps has the following costs associated with its production and sale of devices that allow...
Appliance Apps has the following costs associated with its
production and sale of devices that allow appliances to receive
commands from cell phones.
eBook Calculator Print Item Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $144 Variable Sales and Administration Expenses Fixed Sales and Administration Expenses $975,000 Direct Material Cost per Unit Direct...
ter 9 Assignment Saved Help Save& Exit PEAR owns 60 % of the shares of Strata,...
ter 9 Assignment Saved Help Save& Exit PEAR owns 60 % of the shares of Strata, which is a joint venture. During 2019, PEAR sold merchandise totaling $60,000 to Strata and recorded a 30% gross profit on these sales. At year-end, Strata's inventory contained $10,000 of items purchased from PEAR. The adjustment to consolidated cost of goods sold to eliminate intercompany profits in inventory would consist of which of the following? (Assume that the company was following proportionate consolidation for...
Do It! Review 5-06 Oriole Company reported the following in its 2022 and 2021 income statements....
Do It! Review 5-06 Oriole Company reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $166,000 $136,000 Cost of goods sold 99,600 81,600 34,860 14,960 Operating expenses 11,400 Income tax expense 19,400 $12,140 28,040 Net income Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 2022 2021 Gross profit rate % Profit margin 6 pen Show Work Click if you would like to Show...
MC Qu. 79 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 $424,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 78,000 328,000 406,000 88,000 318, eee $106,000 Thompson's 2018 inventory turnover ratio is: (Round your answer to two decimal places.)
Hep Jave Thompson TV and Appliance reported the following in its 2021 financial statements: 2021 $420,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 82,000 340,000 422,000 86,000 336,000 $ 84,000 Thompson's 2021 inventory turnover ratio is: Multiple Choice 3.91 4.00. 4.88 5.00
MC Qu. 78 Thompson TV and Appliance... Thompson TV and Appliance reported the following in its 2018 financial statements: 2018 $424,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale 62,000 330,000 392, е00 Inventory, December 31 Cost of goods sold 101,000 291,000 $133,000 Gross profit Thompson's 2018 gross profit ratio is: (Round your answer to the nearest whole percentage.)
Help Save G. Ex A company overstated its ending inventory balance by $7000 in 2021 What impact will this error have on cost of goods sold and gross profit in 2021 and 20222 Cost of goods sold Gross profit 2022 Cost of goods sold Gross profit
4 i Saved Help Save Fun the banks in the following separate income statements a through e. Amounts to be deducted should by a minus sign.) d $ 68,000 b $ 43,600 $ c 56,000 e 25,500 los 16,950 6,500 8,000 59,000 Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 7,400 29,000 (7.100) 4,550 5,200 (2,500) 17,000 (8,100) 33.720 7,600 22,000 3,200...
40
Anthony Thomas Candies (ATC) reported the following financial data for 2021 and 2020: 2021 $309,000 7,500 $301,500 2020 $304,000 5,900 $ 298,100 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 44,000 149,000 193,000 61,000 132,000 $169,500 27,000 144,000 171,000 44,000 127,000 $171,100 ATC's gross profit ratio (rounded) in 2021 is: (Round your answer to one decimal place e.g.,...
Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $142,000 $112.000 Cost of goods sold Operating expenses 85,200 29,820 17,200 67,200 14,560 9,200 Income tax expense Net income $ 9,780 $ 21,040 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 2022 2021 Gross profit rate Profit margin
Appliance Apps has the following costs associated with its
production and sale of devices that allow appliances to receive
commands from cell phones.
eBook Calculator Print Item Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $144 Variable Sales and Administration Expenses Fixed Sales and Administration Expenses $975,000 Direct Material Cost per Unit Direct...
ter 9 Assignment Saved Help Save& Exit PEAR owns 60 % of the shares of Strata, which is a joint venture. During 2019, PEAR sold merchandise totaling $60,000 to Strata and recorded a 30% gross profit on these sales. At year-end, Strata's inventory contained $10,000 of items purchased from PEAR. The adjustment to consolidated cost of goods sold to eliminate intercompany profits in inventory would consist of which of the following? (Assume that the company was following proportionate consolidation for...
Do It! Review 5-06 Oriole Company reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $166,000 $136,000 Cost of goods sold 99,600 81,600 34,860 14,960 Operating expenses 11,400 Income tax expense 19,400 $12,140 28,040 Net income Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 2022 2021 Gross profit rate % Profit margin 6 pen Show Work Click if you would like to Show...
Most questions answered within 3 hours.
-
A resistor and the capacitor are used to control the timing in
the RC circuit of...
asked 10 minutes ago -
Five moles of monatomic ideal gas have initial pressure 2.50 ×
103 Pa and initial volume...
asked 10 minutes ago -
Living in a group could bring several disadvantages to an
individual. What are some of the...
asked 27 minutes ago -
Complete and balance the following reactions. In case of no
reaction occurring write NR.
Mix #1:...
asked 33 minutes ago -
If an economy consumes 75% of any increase in income, then an
increase in autonomous investment...
asked 36 minutes ago -
A shotputter throws the shot with an initial speed of 15.8 m/s
at a 38.0 ∘...
asked 52 minutes ago -
Debra and Merina sell electronic equipment and supplies through
their partnership. They wish to expand their...
asked 52 minutes ago -
How does a linear regression allow you to better estimate
trends, costs, and other factors in...
asked 1 hour ago -
1. (15%) Describe the difference between a pull (Kanban), push
and CONWIP production systems.
asked 57 minutes ago -
QUESTION 5
The total area under the Z distribution curve is equal to:
a.
10
b....
asked 1 hour ago -
Using Python
The variables x and y refer to numbers. Write a code segment
that prompts...
asked 1 hour ago -
If
the coefficient of static friction between a box and the floor is
0.35 with what...
asked 1 hour ago