Calculate the company profit margin and interpret the resuit

Reference no: EM131528320

Question: 1. Yang Company reported net income of $37,925 and net sales of $390,000 for the current year. Calculate the company's profit margin and interpret the result. Assume that its competitors earn an average profit margin of 15%.

2. Jordan Air has the following information in its unadjusted and adjusted trial balances. What are the adjusting entries that Jordan Air likely recorded?

Unadjusted Adjusted

Debit Credit Debit Credit

Prepaid insurance . . . . . . . . . . $6,200 $5,900

Salaries payable . . . . . . . . . . $ 0 $1,400

Reference no: EM131528320

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