What is the gross profit, The accounting records for a

What is the gross profit

Assignment Help Financial Accounting

Reference no: EM131261520

The accounting records for a restaurant indicate that food sales were $25,000, food used was $8,100, and employee meals at cost were $75. What is the gross profit?

Reference no: EM131261520

Questions Cloud

What nominal interest rate is being charged on this loan : The EZ Credit Company offers to loan a college student $6,000 for school expenses. Repayment of the loan will be in monthly installments of $304.07 for 24 months. The total repayment of money is $7,297.68, which includes the original $6,000, $1,207.0..

Beginning to understand break-even analysis : Jordan and Taylor are beginning to understand break-even analysis. Selling price to Yumminess at $10 per tin. The cost is $8 per tin, which includes $6 of direct material and $1.50 of direct labor. Annual manufacturing overhead is estimated at $100,0..

Compute devons lowest net tax payable or refund due : Tax Return Problem Devon Bishop, age 45, is single. He lives at 1507 Rose Lane, Albuquerque, NM 87131. His Social Security number is 111-11-1112. Devon does not want $3 to go to the Presidential Election Campaign Fund. Devon's wife, Ariane, passed aw..

The common stock has a current market value : Pilsen Company issues 12% bonds with a face value of $10,000 and 600 shares of $10 par common stock in a combined sale, receiving total proceeds of $23,000 on December 31. The common stock has a current market value of $21 per share; the market valu..

What is the gross profit : The accounting records for a restaurant indicate that food sales were $25,000, food used was $8,100, and employee meals at cost were $75. What is the gross profit?

Firm recently announced stock repurchase program : A year ago, Frank Figgs bought 10,000 shares of ABC Corporation’s stock for $35 per share. The firm recently paid a dividend of $0.20 per share and, in addition, the firm recently announced a stock repurchase program. How much in personal taxes will ..

What is the primary financial reporting objective : What is the primary financial reporting objective for not-for-profit organizations? How does this differ from the primary financial reporting objective for a government?

Assuming adrian has no other capital gains or losses : Three years ago, Adrian purchased 220 shares of stock in X Corp. for $29,480. On December 30 of year 4, Adrian sells the 220 shares for $22,000. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on he..

Tradition of keeping information about clients confidential : Swiss banks have had a long tradition of keeping information about their clients confidential. Is this the correct strategic focus to take in the 21st century? Should the United States government have the right to demand information pertaining to the..

User Account

All Pages