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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
النسخة 17الرقم المعياري الدولي: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
النسخة 17الرقم المعياري الدولي: 978-0078025778 تمرين 59
Preparation and Interpretation of a Merchandising Company's Income Statement
Instructions
a. Prepare an income statement for Hendry's Boutique dated December 31, 2015.
b. Compute the store's gross profit margin as a percentage of net sales.
c. Do the store's customers seem to be satisfied with their purchases? Defend your answer.
d. Explain how you can tell that the business records inventory purchases net of any purchase discounts.
e. The store reports sales taxes payable of $3,200 in its adjusted trial balance. Explain why it does not report any sales taxes expense.
f. Which accounts appearing in the store's adjusted trial balance comprise its operating cycle?
Instructions
a. Prepare an income statement for Hendry's Boutique dated December 31, 2015.
b. Compute the store's gross profit margin as a percentage of net sales.
c. Do the store's customers seem to be satisfied with their purchases? Defend your answer.
d. Explain how you can tell that the business records inventory purchases net of any purchase discounts.
e. The store reports sales taxes payable of $3,200 in its adjusted trial balance. Explain why it does not report any sales taxes expense.
f. Which accounts appearing in the store's adjusted trial balance comprise its operating cycle?
التوضيح
موثّق
موثّق
a.
Income statement:
• An income state...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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