Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 55

Hendry's Boutique is a retail clothing store for women.he store operates out of a rented building in Storm Lake, Iowa.hown below is the store's adjusted year-end trial balance dated December 31, 2015.

Instructions
a.repare an income statement for Hendry's Boutique dated December 31, 2015.
b.ompute the store's gross profit margin as a percentage of net sales.
c.o the store's customers seem to be satisfied with their purchases Defend your answer.
d.xplain how you can tell that the business records inventory purchases net of any purchase discounts.
e.he store reports sales taxes payable of $3,200 in its adjusted trial balance.xplain why it does not report any sales taxes expense.
f.hich accounts appearing in the store's adjusted trial balance comprise its operating cycle