What was the profit margin, Accounting Basics

+44 141 628 6080
[email protected]

What was the profit margin

For 2007 Mossland Corporation reported gross profit $100,000; net income of $24,000; sales $500,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 profit margin?

A. 20%

B. 25%

C. 6%

D. 4.8%

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the profit margin

Reference No:- TGS087076

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Prepare a table of entities

Prepare a table of entities for the Erickson Inc. Erickson, Inc. sells pluming supplies to contractors in the northeast region of the United states.

Q : Legal services incrueed during the company organization

Jan 15 Exchanged 10,000 shares of common stock for equipment with a market value of $80,000. Feb. 1 Exchanged 500 shares of common stock for $3,000 of legal services incrueed during the company's organization.

Q : Reorting for not-for-profit and governmental entities

Write a Memo to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for not-for-profit and governmental entities.

Q : Holding period on the new truck and its basis

Jim Junction purchased a truck fro business on November 17, 2009, for $40,000. On July 21, 2010, he exchanged the truck for another truck in a like-kind exchange. The new truck had a fair market value of $42,000. When does the holding period on th

Q : What was the profit margin

Q : What was recognized gain or loss

On November 28, 2010, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares of $188, What was her recognized gain or loss?

Q : Elements of generally accepted auditing standards-gaas

Describe the elements of the Generally Accepted Auditing Standards (GAAS).

Q : Problem based on ownership in the project

Calculate the IRR and NPV of this project utilizing a 12% discount rate and a 15% cap rate. Ms. Brown was able to secure a loan for $1,540,000, and an equity investor agreed to invest the remaining $660,000 in exchange for 20% ownership in the pro

Q : What net amount can be deducted for lease expense

Based on the value of the automobile, the inclusion amounts for 2008, 2009, and 2010 are $313, $590, and $602, respectively. If the taxpayer uses the car 70% for business, what net amount can be deducted for lease expense in 2009?

1933486

Questions
Asked

3,689

Active Tutors

1413744

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the profit margin

Reference No:- TGS087076

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Prepare a table of entities

Q : Legal services incrueed during the company organization

Q : Reorting for not-for-profit and governmental entities

Q : Holding period on the new truck and its basis

Q : What was the profit margin

Q : What was recognized gain or loss

Q : Elements of generally accepted auditing standards-gaas

Q : Problem based on ownership in the project

Q : What net amount can be deducted for lease expense

Investigate the cause of the recent werewolf attacks

Describe marxist theory and psychology of addiction

Explain framers decisions in creating the constitution

Federal bureaucracy has to put up with a lot of red tape

What power of recognition when it comes to office president

What right ordinance power give to the president

Analyze leadership of organization during particular event

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What was the profit margin

Reference No:- TGS087076

Recent Questions Asked Accounting Basics

Q : Prepare a table of entities

Q : Legal services incrueed during the company organization

Q : Reorting for not-for-profit and governmental entities

Q : Holding period on the new truck and its basis

Q : What was the profit margin

Q : What was recognized gain or loss

Q : Elements of generally accepted auditing standards-gaas

Q : Problem based on ownership in the project

Q : What net amount can be deducted for lease expense

Asked Questions