Answers
| FURLOW COMPANY | ||
| Income Statement | ||
| For the month ended March 2020 | ||
| Particulars | Amount ($) | Amount ($) |
| SALES REVENUE | ||
| Sales Revenues | 3,80,000 | |
| Less: Sales return and allowances | 13,000 | |
| Less: Sales Discounts | 8,000 | 21,000 |
| Net Sales | 3,59,000 | |
| Less: Cost of goods sold | 2,12,000 | |
| Gross Profit | 1,47,000 | |
| Less: Operating Expenses | ||
| Rent Expenses | 32,000 | |
| Insurance Expenses | 6,000 | |
| Freight out | 7,000 | |
| Salaries & wage expenses | 58,000 | |
| Total Operating expenses | 1,03,000 | |
| Net Income | 44,000 |
Gross Profit rate
Gross Profit rate = [Gross profit / Net Sales] x 100
= [$147,000 / $359,000] x 100
= 40.95%
.Similar Solved Questions
1 answer
SO.2. Place the them in order of increasing (smallest to largest) Sulfur-- Oxygen bond Draw the...
SO.2. Place the them in order of increasing (smallest to largest) Sulfur-- Oxygen bond Draw the best Lewis structures for SO, SO, order. a) 503<5032-<50,2 b) 503<50,2 <5032 c) 50, <S02<5022 d) 50, <5022 <50 e) 50< 50,50,2...
1 answer
Capacity of 10 gate that seve three class of aircraft Aircraft class Mix% 15 :35 50...
capacity of 10 gate that seve three class of aircraft Aircraft class Mix% 15 :35 50 Avg. Occupancy time (mix) 25 45 60...
1 answer
Use the Venn diagram to list the elements of the set in roster form. U B...
Use the Venn diagram to list the elements of the set in roster form. U B 11 14 13 17 12 15 16 18 19 A {12, 15, 16, 18, 19) {11, 14, 18, 19) {12, 15, 16) (11, 13, 14, 17)...
1 answer
5. Four point-like charges are placed as shown in the figure, three of them are at...
5. Four point-like charges are placed as shown in the figure, three of them are at the corners and one at the center of a square, 28.0 cm on each side. Find the magnitude of the net electrostatic force exerted on the point charge q4-Let q-q3 = +24.0 μ C, q2-38.0 pC, and q,--35.0 μC. 42 43 94 4...
1 answer
View by 21 Find the area of the shaded region. The graph to the right depicts...
View by 21 Find the area of the shaded region. The graph to the right depicts IQ scores of adults, and those scores are normally distributed with a mean of 100 and a standard deviation of 15. Click to view page 1 of the table Click to view page 2 of the table The area of the shaded region is (Round ...
1 answer
Scenario 5.6: Consider the information in the table below, describing choices for a new doctor. The...
Scenario 5.6: Consider the information in the table below, describing choices for a new doctor. The outcomes represent different macroeconomic environments, which the individual cannot predict. We assume the doctor's utility of income function is given as: U(I) = I0.5, where I represents income....
1 answer
Need to show work 8. The following table gives the distribution, approximated to the nearest millions,...
Need to show work 8. The following table gives the distribution, approximated to the nearest millions, of the popula- tion of the United States according to age and gender for the year 1995. Males emales Row Total Under 25 years old 16 25 years old and older 7990 48 94 169 umn Total Define the foll...
1 answer
The CEO of your company recently met with the external auditors to discuss the scope of...
The CEO of your company recently met with the external auditors to discuss the scope of the year’s audit. The auditors suggested that they conduct an integrated audit. The CEO has asked you, the accountant, to make a presentation at the next board of directors meeting that includes the followi...
1 answer
3. (10 points) Given the L.T. V(s) = 3+1 (a) Find the value of v(t =...
3. (10 points) Given the L.T. V(s) = 3+1 (a) Find the value of v(t = 0+) (b) Find the steady state value of u(t)...
1 answer
3. Consider two random variables X and Y, whose joint density function is given as follows....
3. Consider two random variables X and Y, whose joint density function is given as follows. Let T be the triangle with vertices (0,0), (2,0), and (0,1). Then if (x, y for some constant K (a) (2 pts.) Find the constant K (b) (4 pts.) Find P(X +Y< 1) and P(X > Y). (c) (4 pts.) Find the marginal ...
1 answer
Which of these elements is most electronegative ? K Ga Br
Which of these elements is most electronegative ? K Ga Br...
1 answer
An OSU alumna wants to establish a scholarship fund that can provide $10,000 annually for scholarships...
An OSU alumna wants to establish a scholarship fund that can provide $10,000 annually for scholarships over a 20-year period, starting exactly 6 years from now (t.=6). She is planning to make the following cash contributions– an initial (t=0) contribution now followed by 5 annual (t=1 through ...
1 answer
Please dont answer my by excel .. would be better if use your PC to answer...
please dont answer my by excel .. would be better if use your PC to answer ,, as well as provide the formula Semangat Sdn. Bhd. plans to improve its workers' safety by sending them for training. The company will enjoy rebates in premium by the insurance company if the workers completed the ...
1 answer
Regarding nutrients, which ones only serve as "building blocks", contributing to and maintaining the structure of...
Regarding nutrients, which ones only serve as "building blocks", contributing to and maintaining the structure of the body? What is the function that all the others also have or have instead? A drug is defined by most experts as "any substance ingested or put in the body other than food ...
1 answer
Example: Groundwater A brownfield is contaminated with pollutants including PCBs. The water table declines in the...
Example: Groundwater A brownfield is contaminated with pollutants including PCBs. The water table declines in the direction of groundwater flow by 8 meters per 1000 meters. The soil has a hydraulic conductivity of 4.9 x 10-5 m/s, a porosity of 0.28, and a solids density of 2.1 kg/L. One PCB has a Kd...