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Home / Questions / Discuss the following statement: “Operating cycles for all merchandising businesses are

Discuss the following statement: “Operating cycles for all merchandising businesses are

 Discuss the following statement:

“Operating cycles for all merchandising businesses are the same, with similar profit margins.”

Include an example(s) to illustrate your explanation. 


 


 


 


 

 

188. Complete the following data taken from the condensed income statements for merchandising Companies A, B, & C.
 

 

Company A

Company B

Company C

Net income

315

?

215

Sales

?

865

560

Gross Profit

430

?

325

Operating Expenses

?

125

?

Cost of merchandise sold

545

320

?

 

 

 

 

 


 


 


 


 

 

189. Complete the following data taken from the condensed income statements for merchandising Companies X, Y, & Z.
 

 

Company X

Company Y

Company Z

Net income or (loss)

220

?

(70)

Sales

?

1,315

890

Gross Profit

435

?

465

Operating Expenses

?

565

?

Cost of merchandise sold

330

775

?

 

 

 

 

 


 


 


 


 

 

190. During the current year, merchandise is sold for $137,500 cash and $425,600 on account. The cost of the merchandise sold is $322,325. What is the amount of the gross profit? 


 


 


 


 

 

191. During the current year, merchandise is sold for $117,500 cash and $241,750 on account. The cost of the merchandise sold is $157,400. What is the amount of the gross profit? 


 


 


 


 

 

 

 

Dec 09 2019 View more View Less

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