Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. using the answers in q 1 and q2, explain whether t

Using the answers in Q 1 and Q2, explain whether the net profit ratios have...

70.2K

Verified Solution

Question

Accounting

Using the answers in Q 1 and Q2, explain whether the net profit ratios have improved or worsened from 2022 to 2021? ABC Limited Income Statement for the years Ended Dec 31, 2022 and Dec 31, 2021 2022 2021 Sales $ 1,562,500.00 $ 1,406,250.00 Less Cost of Sales Opening Stock $ 250,000.00 $ 150,000.00 Add Purchases $ 1,550,000.00 $ 1,253,125.00 Less Closing Stock -$ 550,000.00 -$ 250,000.00 Total Cost of Sales $ 1,250,000.00 $ 1,153,125.00 Gross Profit $ 312,500.00 $ 253,125.00 Selling And Admin Expenses $ 132,500.00 $ 135,000.00 Operating Profit (Profit

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Question Completion Status 1 2 3 40 5 QUESTION 19 George Wallace is inter problems...

Statistics
Q

do balance sheets, income statements, cash flow statements, andstatements of shareholders' equity share the...

Accounting
Q

In sporophyte dominant plants the diploid plant grows to be significantly larger than the haploid...

Biology
Q

a CD b DE c AB d BC 10 Which of the following statements is...

Physics
Q

Volume of Spheres Practice Key Find the volume of each figure Round your answers to...

Geometry
Q

Evaluate the limit If the limit does not exist enter DNE Answers should be in...

Calculus
Q

In an experiment on social interaction 7 people including Darrell will sit in 7 seats...

Algebra
Q

What kind of a costing system should the following businesses have? State two reasons supporting...

Accounting
Q

You are the management accountant of a manufacturing company where production is capital-intensive, using machinery...

Accounting
Q

add calculations steps please \begin{tabular}{|c|c|c|c|c|} \hline & \multicolumn{2}{|c|}{BeforeAdjustment} & \multicolumn{2}{|c|}{AfterAdjustment} \\ \hline & Dr....

Accounting
Q

Use the following information for questions 65-68: Seasons Construction is constructing an office...

Accounting
Q

At what amount should Land be debited

Accounting