Answer:
B. Gross profit decreased from 28.6% to 26.5%
Explanation:
As for the provided information, we have
Particulars Year 2016 Year 2015
Sales $38,537 $47,011
Cost of goods sold $28,309 $33,546
Gross Profit $10,228 $13,465
Gross profit as a percentage of sales shall be:
Year 2016 =
Year 2015 =
As the percentage is higher of 2015 by 0.1%
The statement B which states that the gross profit has reduced is correct.
Answer:
Answer//// Tom Cotton owes Sams garage;//////////////////
Explanation:
Answer:
Net cash provided by financing activities $315,000
Explanation:
The computation of the net cash provided or used by financing activities is shown below:
Issuance of common stock $275,000
Issuance of bonds payable $469,000
Less: Payment of dividends $380,000
Less: Purchase of treasury stock $49,000
Net cash provided by financing activities $315,000
Answer:
Refer below.
Explanation:
Answer is intended both & Done.
The accounting principles, assumptions, and constraints describes are identified as follows: A) 7, B) 6, C) 8, D) 9, E) 1, F) 4, G) 3.
<h3>What are Accounting Principles?</h3>
These are rules or laws that govern the reporting and recording of the financial information of a business.
7 - Expense Recognition Principle: This holds the rule of thought that expenses made ought to be recorded in the books or recognized in the same time frame as the revenue transactions they are related to.
3 - Monetary Unit Principle: This law indicates that if a transaction cannot be expressed in a currency, then it shouldn't be recorded. This means "in-kind" transactions and favors hold no place in proper Financial Bookkeeping practice.
See the link below for more about Accounting Principles:
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