Rapid Retail Comparative Statement of Income December 31st Increase (Decrease) Required: a) Complete the increase (decrease) in
Question:
December 31st Increase (Decrease)
Required:
a) Complete the increase (decrease) in dollars and percent
b) Comment on trends
Transcribed Image Text:
(In thousands of dollars) 2011 2010 Dollars Percent Net sales S30,000 S28,000 2,000 107-1490 Cost of goods sold 20,000 19,500 500 102.56% Gross profit 0,000 8,500 1,500 117.65% Selling, general and
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
b though net sales increase only by 714 net income ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
Here is the selected comparative statement data for the Clapton Guitar Company. All balance sheet data is as of December 31st. A. What is the profit margin ratio for 2004? (5 pts) B. Calculate the...
-
The first case at the end of this chapter and numerous subsequent chapters is a series of integrative cases involving Wal-Mart Stores, Inc. (Walmart). The series of cases applies the concepts and...
-
a. Complete the increase (decrease) in dollars and percent. b. Comment ontrends. Rapid Retail Comparative Statements of Income December 31 Increase (Decrease) 2010 2009 Dollars Percent (In thousands...
-
Asset allocation explains a large portion of a portfolio return. However, the implementation issues involved inthe asset allocation process may reduce the efficiency of the asset allocation strategy,...
-
After several years of operations, the partnership of Baldwin, Cowan, and Stewart is to be liquidated. After making closing entries on June 30, 20--, the following accounts remain open: The noncash...
-
For Problem rewrite in equivalent exponential form. log 4 8 = 3/2
-
A toroid carries a current \(I\) and has \(n\) circular windings per unit length measured along the inside edge of the windings. The radius of each circular winding is \(R_{\text {winding }}\), and...
-
After researching the different forms of business organization. Natalie Koebel decides to operate Cookie Creations as a proprietorship. She then starts the process of getting the business running. In...
-
1. Your program asks the user how many bananas they want to buy, and what the price is. This information is then passed to getTotal to calculate the total cost. System.out.println("How many bananas...
-
The marketing manager for a chain of hardware stores needed more information about the effectiveness of the three types of advertising that the chain used. These are localized direct mailing (in...
-
There is a classic debate about the relationship between attitudes and behaviors. Some people argue that attitude changes must precede behavioral responses, but other people believe that it is easier...
-
Professor Julia Silverman received the following e-mail message. "I don't know if you remember me. I am Tim Wallace. I was in your introductory accounting class a couple of years ago. I recently...
-
Identify two points in the audit process when analytical procedures are required by GAAS, and explain why they are considered necessary.
-
In an electron microscope, a beam of high energy electrons can knock out core electrons from atoms in the sample. The subsequent relaxation of electrons from higher energy shells to the empty orbital...
-
Explain the following statement: 'you must not lose, in order to win in the financial markets'. What does this mean and why might a trader/portfolio manager say this...what concept are they aware of?
-
A dump truck normally carries 10 cubic yards of gravel. A cubic yard of gravel weighs 1.35 tons. Road bans in the spring specify that the truck can only be loaded to 85 percent of normal capacity....
-
Use your critical analysis skills to identify the argument in the song "Zombie" by The Cranberries. Take into consideration that The Cranberries are from Dublin, Ireland where much of the violence...
-
design a Java program that reads all the characters in a text file ("input.txt") and outputs the following to a text file ("output.txt") "1. Total number of upper case alphabet:" RESULT "2. Total...
-
Using your favorite MANET simulator, create a sensor network. Assuming appropriate parameters simulate a sensor network with 100 nodes. Find the query propagation time from one end of the network to...
-
Refrigerant R-12 at 30C, 0.75 MPa enters a steady flow device and exits at 30C, 100 kPa. Assume the process is isothermal and reversible. Find the change in availability of the refrigerant.
-
A portion of the flue for a furnace is attached to the ceiling at A. While supporting the free end of the flue at F, a worker pushes in at E and pulls out at F to align end E with the furnace....
-
A portion of the flue for a furnace is attached to the ceiling at A. While supporting the free end of the flue at F, a worker pushes in at E and pulls out at F to align end E with the furnace....
-
The head-and-motor assembly of a radial drill press was originally positioned with arm AB parallel to the z axis and the axis of the chuck and bit parallel to the y axis. The assembly was then...
-
Victor Korchnoi bought a bond one month before a semi-annual coupon was due. The face value was $10,000 and the coupon rate 8.5%. At the time of purchase there were 34 coupons left and the YTM was 6%...
-
4. Consider a 30-year U.S. Treasury bond paying 4.5 percent coupon, and selling for $1010. What is the yield to maturity? Make sure to show your work. 5. A 30-year U.S. corporate bond with a 6...
-
A project's base case or most likely NPV is $44,000, and assume its probability of occurrence is 50%. Assume the best-case scenario NPV is 65% higher than the base case and assume the worst scenario...
Study smarter with the SolutionInn App