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Pages:
1 page/≈275 words
Sources:
Level:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.32
Topic:

Bank Reconciliation Statement (Essay Sample)

Instructions:

The paper was all about preparing a bank reconciliation statement,trial balance and balance sheet

source..
Content:
Problem BTN 4-9

Net Sales

Cost of sales

Nokia

40984

27720

Research in motion

14953

8369

Apple

42905

25683

Gross margin ratio=Gross profit/Net sales
Gross profit=Net sales-cost of sales
Gross margin ratio of Nokia=(40984-27720)/40984=0.3236
Gross margin ratio of Research in motion=(14953-8369)/14953=0.4403
Gross margin ratio of Apple=(42905-25683)/42905=0.4014
Ranking the companies from highest to lowest in terms of gross margin ratio
1.Research in motion
2.Apple
3.Nokia
Problem 4-3A
Rex company adjusted trial balance
Cash

2200


Merchandise Inventory

11500

11100

Store supplies

4800+1650=6450


Prepaid insurance

2300


Store equipment

41900


Accumulated depreciation-store equipment


15000

Accounts payable


9000

Common stock


5000

Retained earnings


27000

Dividends

2000


Sales


104000

Sales discounts

1000


Sales returns and allowances

2000


Cost of goods sold

37400


Depreciation expense-store equipment

0+1400=1400


Salaries expense

31000


Insurance expense

0


Rent expense

14000


Store supplies expense

0


Advertising expense

9900


Expired insurance

1500


Administrative expense

1...
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