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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...
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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