A company reported sales of $100,000; cost of goods sold of $60,000; selling, general, and administrative expenses
Question:
A company reported sales of $100,000; cost of goods sold of $60,000; selling, general, and administrative expenses of $15,000; and income tax expense of $10,000. Compute the company’s profit margin.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Profit Margin Net IncomeSales 100000 60000 15000 100...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Question Posted:
Students also viewed these Accounting questions
-
Problem-4: An inverted hollow container with a uniform cross section area, A and height, H is slowly pushed into water as shown. The water rises into the container by a distance l (and compresses the...
-
Phoenix Company reported sales of $500,000 for Year 1, $550,000 for Year 2, and $600,000 for Year 3. Using Year 1 as the base year, what were the percentage increases for Year 2 and Year 3 compared...
-
Valdez Company reported sales of $343,000; beginning with net Accounts Receivable of $89,000 and ending net Accounts Receivable of $111,000. Valdez Company's receivable collection period(rounded to...
-
St . Petersburg Graduate School of Management ( GSOM ) in russia . now you required to Analyze the landscape and competitive market of our school ( you will need to choose from which market you are...
-
Consider the following independent situations for Kwok Corporation. Kwok applies ASPE. Situation 1: Kwok purchased equipment in 2010 for $120,000 and estimated a $12,000 residual value at the end of...
-
Please comment on the differences in risk between the two companies as reflected in their respective required rates of return and weighted average cost of capital. Explain why they are different and...
-
(a) Show that for Poiseuille flow in a tube of radius \(R\) the magnitude of the wall shearing stress, \(\tau_{r z}\), can be obtained from the relationship \[ \left|\left(\tau_{r z} ight)_{\text...
-
What type of demand exists for pharmaceutical and medical device products? Discuss the roles doctors play in the business buying process for medical equipment used in a hospital and why companies...
-
Encouraging team productivity can be a major issue in many organizations. Inclusive and Exclusive are the two common management styles most organizations exhibit. Discuss the effectiveness or...
-
You want to park your bicycle in a bicycle parking area where bike racks are aligned in a row. There are already N bikes parked there (each bike is attached to exactly one rack, but a rack can have...
-
Multiple versus Single-Step Income Statement A retailer is considering whether to prepare a multiple- or single-step income statement. Provide three lines that appear on a multiple-step statement...
-
A company started the year with retained earnings of $200,000. During the year, it reported net income of $80,000 and paid dividends of $50,000. Compute the companys ending retained earnings.
-
Toms Trailers Ltd. (TTL), located in London, Ontario, manufactures industrial trailers that are used to ship goods across the country. Originally, Tom Tran owned 60 percent of the common shares of...
-
When an advance becomes NPA?
-
State the provisions of the Companies Act, 1956 regarding the declaration and payment of dividend.
-
(a) What are the general considerations for evaluation and verification of assets? (b) State your views on the following: (i) Events occurring after the Balance Sheet date and (ii) prior period and...
-
What is meant by contingent liability? Discuss the auditors duty in this regard.
-
Physical presence of the auditor at the time of year end verification of stock is though not always possible, it is recommended that he should at least be present as an observer. Signify the...
-
Design a series \(R C\) circuit using dc voltage sources that delivers a voltage across the capacitor for \(t>0\) that fits entirely within the nonshaded region of Figure P7=3 . VC(D)(V) 10 9 6 0 -4...
-
Is times interest earned meaningful for utilities? Why or why not?
-
The average annual total returns for the Titan Equity Fund and its corresponding market benchmark for several recent years were as follows: Therefore, investing $10,000 in the Titan Fund and...
-
It takes Bradley Retailers 90 days on average to sell its inventory. The company began the year with $17,000 in inventor)'. Sales and cost of goods sold for the year amounted to $95,000 and $60,000,...
-
It takes Bradley Retailers 90 days on average to sell its inventory. The company began the year with $17,000 in inventor)'. Sales and cost of goods sold for the year amounted to $95,000 and $60,000,...
-
Kramer began operations early in 2016 and made the following purchases February 5 .........................200 $5 June 10................................ 500 6 October 4..............................
-
American X wishes to borrow U.S. dollars at a fixed rate of interest. Corporation Y wishes to borrow Japanese Yen at a fixed rate of interest. The amounts required by the two companies are the same...
-
Bunga Raya Kuning Berhad is a Malaysian-based MNC that obtains 12 percent of its supplies from the U.K. manufacturers. Sixty-five percent of its revenues are from due to exports to U.K. where its...
-
Trevor's Tool Shop is considering investing in a new machine. The company currently has $500,000 per year in sales. The company has $265,000 per year in net income. If the company invests in the new...
Study smarter with the SolutionInn App