During the current year, merchandise is sold for $898,000. the cost of merchandise sold sold is $664,520.
a. what is the amount of the gross profit?
b. compute the gross profit percentage (gross profit divided by sales). round to the nearest whole number.
c. when will the income statement necessarily report a net income?

In the rbv are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies.answers: management policies

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Decision alternatives should be identified before decision criteria are established. are limited to quantitative solutions are evaluated as a part of the problem definition stage. are best generated by brain-storming.