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Home Q & A Board Other Fields Homework Help Business Accounting
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gOOvER gOOvER
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6 years ago
Please refer to the following trial balance.

   Debit   Credit
Cash   $5,000    
Accounts receivable   14,000    
Inventory   20,000    
Supplies   5,000    
Land   100,000    
Accounts payable      $3,000
Notes payable      25,000
Capital      90,000
Withdrawals   1,000    
Sales revenues      160,000
Sales returns and allowances   2,000    
Sales discounts   3,000    
Cost of goods sold   80,000    
Salary expense   5,000    
Utility expense   23,000    
Rent expense   18,000    
Interest expense   2,000    
Totals   $278,000    $278,000

How much is the gross profit percentage?
A) 50.0%
B) 51.6%
C) 46.8%
D) 48.4%
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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migrodmigrod
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6 years ago
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gOOvER Author
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6 years ago
Helped a lot
shelbycox
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I appreciate what you did here, answered it right Smiling Face with Open Mouth
rhockeygirl
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2 hours ago
this is exactly what I needed
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