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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 1
Preparation and Interpretation of a Merchandising Company's Income Statement
Instructions
a. Prepare an income statement for Harry's Haberdashery 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 $5,000 in its adjusted trial balance. Explain why it does not report any sales taxes expense.
f. What is meant by the term "operating cycle" and which accounts in the trial balance comprise Harry's Haberdashery's operating cycle?
Instructions
a. Prepare an income statement for Harry's Haberdashery 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 $5,000 in its adjusted trial balance. Explain why it does not report any sales taxes expense.
f. What is meant by the term "operating cycle" and which accounts in the trial balance comprise Harry's Haberdashery's operating cycle?
التوضيح
موثّق
موثّق
a.)
Gross profit equals to sales minus c...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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