Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. fabulous dresses sold $225,000 of inventory to cus

Fabulous Dresses sold $225,000 of inventory to customers for $490,000 cash during May. The profit...

50.1K

Verified Solution

Question

Accounting

Fabulous Dresses sold $225,000 of inventory to customers for $490,000 cash during May. The profit margin (PM) for April was 50%. What effect will this event have on Fabulous Dresses(PM) and on total assets?
Group of answer choices
PM and total assets will increase.
PM and total assets will decrease.
PM will increase and total assets will decrease.
PM will decrease and total assets will increase.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

6) Solve the ff IPV: U(X,0) =f(X) b1) 2Ut + (X+1)2UX = 0 b2) Ut + Xt^2UX=0 b3)...

Advance Math
Q

Essay on an ethical issue. You will be writing a brief essay on an ethical issue...

Medical Sciences
Q

For a magnesium fluoride, MgF2, Ksp= 6.4x10^-9, calculate the molar solubility in pure water. Calculate the molar...

Chemistry
Q

NPVs and IRRs for Mutually Exclusive Projects Davis Industries must choose between a gas-powered and an electric-powered...

Finance
Q

For each of the following pairs of polymers, plot and label schematic stress-strain curves on the...

Mechanical Engineering
Q

1. (Covering part 1 of the lecture slides) Consider the subset A of natural numbers, defined...

Advance Math
Q

Which angles are consecutive interior angles E H D F I ZEFI and JIK ZEFI...

Geometry
Q

1 point The population of a colony of rabbits grows exponentially The colony begins with...

Calculus
Q

On July 1 2001 a savings account has 1000 This account earns interest at an...

Algebra
Q

Scenario: you are a junior buyer, and have been asked establish...

Accounting
Q

1. What is meant by the term break-even point? 2.What is...

Accounting
Q

Menlo Company distributes a single product. The companys sales and expenses for last month follow:...

Accounting