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What was the gro6s profit ratio for the year-ended December 31, 20XS?

What was the gro6s profit ratio for the year-ended December 31, 20XS?

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter4: Accounting For Retail Operations
Section: Chapter Questions
Problem 4.2MBA: Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on...
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QUESTION 14 Random Rotailers, Inc.'s income statoment for the year ended December 31, 2015, included the folowing accounts: Sales.. Cost of goods sold. Selling expenses (total. General and administrative expenses. $100,000,000 $36,000,000 $10,000,000 $25,000,000 Income tax expense... $5,500,000 What was the gross profit ratio for the year-ended December 31, 20X5? Oa 25.0% Ob.36.0% O. 64.0% Od. 40.0% QUESTION 15 XYZ Co. extemal auditor rendered an opinion on the financial statements which stated that, in the opinion of the auditor, the financial statements and related disclosures fairly presented financial information in all material renpects fairly in terms of U.S. GAAP except for the fact that an asset that should have been reported at original historical cost wos reported at its higher tair market value as of the date of the preparation of the statement of financial position. This is an example of a (an) On Qualifed opinion. Ob Disclaimer opinion. Adverse opinion. Unqualified (unmodified) opinion.
Transcribed Image Text:QUESTION 14 Random Rotailers, Inc.'s income statoment for the year ended December 31, 2015, included the folowing accounts: Sales.. Cost of goods sold. Selling expenses (total. General and administrative expenses. $100,000,000 $36,000,000 $10,000,000 $25,000,000 Income tax expense... $5,500,000 What was the gross profit ratio for the year-ended December 31, 20X5? Oa 25.0% Ob.36.0% O. 64.0% Od. 40.0% QUESTION 15 XYZ Co. extemal auditor rendered an opinion on the financial statements which stated that, in the opinion of the auditor, the financial statements and related disclosures fairly presented financial information in all material renpects fairly in terms of U.S. GAAP except for the fact that an asset that should have been reported at original historical cost wos reported at its higher tair market value as of the date of the preparation of the statement of financial position. This is an example of a (an) On Qualifed opinion. Ob Disclaimer opinion. Adverse opinion. Unqualified (unmodified) opinion.
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