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Question - What two ratios measure factors that affect profitability?
1) Gross Profit Margin (GPM) - The gross profit margin is calculated by subtracting the cost of goods sold by the revenue and then dividing by the revenue. The ratio of profitability assesses the efficiency of the production process for a product sold by the company or for more than one product.
2) Net Profit Margin (NPM) - The net profit margin is the percentage of revenue that is left after all expenses have been deducted from sales. The measurement reveals the amount of profit that a business can extract from its total sales.
Calculate the amounts Macadamia should report for the following items in the Discontinued Operations section of the December 31, 2017 income statement
Consult Paragraphs 5–7 of PCAOB Auditing Standard No. 13. Given the reluctance of WorldCom’s management team to communicate with Andersen, do you believe that Andersen exercised due care and professional skepticism in completing the audit? Why or why..
Liberty is required to pay an annual rental of P780,000. What amount should be recorded as rent expense if any for the year ended December 31, 2019?
For Egger Manufacturing, evaluate the annual manufacturing overhead cost-allocation rate and what amount of manufacturing overhead costs may be allocated to this job?
On the basis of the information on Under Armour's Consolidated Balance Sheet for December 31, 2014, what journal entry would be required to record (a) a two-for-one stock split, and (b) the Class C stock dividend?
Frick Company began the accounting period with $60,000 of merchandise, and net cost of purchases was $240,000. A physical inventory showed $72,000 of merchandise unsold at the end of the period. The cost of goods sold of Frick Company for the period ..
Compute the number of meals and the amount of sales revenue needed to earn operating income of $75,600 for the year.
Explain factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to expense for financial reporting purposes.
How much did Janel spend in Latvian Lat. Janel is a Latvian student visiting family in the United States. She spent $176 on dinner for her family one evening.
The stock, which trades on a regional stock exchange, has a $25,000 FMV on the contribution date. Illustrate what is Yellow Corporation’s charitable contributions deduction for the current year?
Preapare a Record the retirement of the bonds (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Journalize the entries to record the following: (1) receipt of the note by Bork Furniture and (2) receipt of payment of the note at maturity
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