Refer to Table 4-1. Using horizontal analysis, payroll taxes ______ by approximately ______ percent. Refer to Table
Question:
Refer to Table 4-1. Using horizontal analysis, payroll taxes ______ by approximately ______ percent.
Refer to Table 4-1. Using horizontal analysis, net profit ________ by approximately ______ percent.
Refer to Table 4-1. Using a vertical analysis of January data, cost of goods sold was approximately ___ percent.
January | February | |
Total Revenues | 46,062 | 44,759 |
Returns & Allowances | 545 | 685 |
Net Sales | 45,517 | 44,074 |
Cost of Goods Sold | 13,841 | 11,583 |
Gross Profit | 31,676 | 32,491 |
Operating Expenses | ||
Officer’s Salary | 2,500 | 2,500 |
Salaries | 15,750 | 14,250 |
Payroll Taxes | 3,623 | 3,278 |
Rent | 2,000 | 2,000 |
Janitorial | 150 | 150 |
Utilities | 512 | 485 |
Depreciation | 500 | 500 |
Sales Taxes | 2,994 | 2,909 |
Total Operating Expenses | 28,029 | 26,072 |
Operating Profit/Loss | 3,647 | 6,419 |
Interest Expense | 150 | 150 |
Net Profit/Loss | 3,497 | 6,269 |
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow