Georgina's income statement was as follows. Revenue for the year ended 31 May 2014 totalled $800,000. Calculate

Question:

Georgina's income statement was as follows. Revenue for the year ended 31 May 2014 totalled $800,000.

Calculate the following ratios:

a. Profit margin

b. Wages as a percentage of revenue

c. Insurance as a percentage of revenue

d. Loan interest as a percentage of revenue

e. Depreciation as a percentage of revenue.

In each case, state the formula used.

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Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

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Question Posted: Sep 17, 2021 01:27 AM

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Georgina's income statement was as follows. Revenue for the year ended 31 May 2014 totalled $800,000. Calculate

Question:

Georgina Income statement (extract) for the year ended 31 May 2014 $ Gross profit 240 000 Insurance 12 000 Loan interest 9 000 Wages 56 000 Depreciation 63 000 (140 000) Profit for year 100 000

Step by Step Answer:

a Profit margin Profit for the year Revenue x 100 Profit margin 140...View the full answer

Accounting For Cambridge International AS And A Level

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