gb 519 unit 3 homework

unit03_assignment.xlsx

2

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BTN 4-9

8 Unit

Assignment

0

:

1
2
3

GB 5	1						0	3
		Student Name:
Global Decision — BTN 4-9
	Part 1
(in millions)	Nokia	Research In Motion	Apple
Revenues
Cost of sales
	Gross margin
	Gross margin ratio
Company	Gross Margin %	Rank
Click in the text box to enter you response to Part 2, below:
Part 2 –>

Given P04-03A

, 2011

2,200

5,000

2,000

–

–

–

$ 160,000

Given Data P04-03A:
				REX COMPANY
Unadjusted Trial Balance
January			31
Cash	$
Merchandise inventory	11,500
Store supplies	4,800
Prepaid insurance	2,300
Store equipment	41,900
Accumulated depreciation-Store equipment	$ 1	5,000
Accounts payable	9,000
Common stock
Retained earnings	27,000
Dividends		2,000
	Sales	104,000
Sales discounts	1,000
Sales returns and allowances
		Cost of goods sold	37,400
Depreciation expense-Store equipment
Salaries expense	31,000
Insurance expense
Rent expense	14,000
Store supplies expense
Advertising expense	9,900
Totals		$ 160,000
Additional information:
Store supplies on hand at year-end	$ 1,650
Expired insurance for year	$ 1,500
Depreciation expense for year	$ 1,400
Ending inventory	$ 11,100
Check figures:
(2)	Gross profit	$ 63,200
(3)	Total expenses	$ 98,750
		Net income	$ 2,250

SP04-03A

Student Name: 0

REX COMPANY

31

– 0 «- Try again!

31

– 0 «- Try again!

31

– 0 «- Try again!

REX COMPANY
Sales

– 0

– 0

Cost of goods sold
Gross profit – 0

:

– 0

expense

– 0

Total expenses – 0
Net income

0

Try again!

REX COMPANY
Income Statement
For Year Ended January 31, 2011

Net sales

Expenses

– 0

– 0

– 0

– 0

Net income $ – 0
Try again!

REX COMPANY

:

Store supplies
Current ratio

ERROR:#DIV/0!

:

$0

Current liabilities $0
Acid-test ratio ERROR:#DIV/0! ERROR:#DIV/0!
Net sales $ – 0
Cost of goods sold – 0
Gross margin $ – 0
Gross margin ratio ERROR:#DIV/0! ERROR:#DIV/0!

Class:

GB 518 Unit 03 Assignment

Problem 04-03A

General Journal

Trans.

Date

Account Titles

no.

Debit

Credit

Adjusting Entries:

Jan. 31

Store Supplies Expense

x: Enter appropriate data in yellow cells. Your Credit entries will be verified.

Store Supplies

– 0

«-

Try again!

To record store supplies expense.

Insurance Expense

Prepaid Insurance

To record expired insurance.

Depreciation Expense, Store Equipment

Accumulated Depreciation, Store Equipment

To record depreciation expense.

Cost of Goods Sold

Merchandise Inventory

To adjust inventory for shrinkage.

Income Statement

For Year Ended January 31, 2011

Less: Sales discounts

Sales returns and allowances

Net sales

Expenses

Selling expenses

Depreciation expense, Store equipment

Sales salaries expense

Rent expense-Selling space

Store supplies

Advertising expense

Total selling expenses

General and administrative expenses

Insurance expense

Office salaries expense

Rent expense-Office space

Total general and administrative expenses

$ –

$ – 0 x: Enter appropriate data in yellow cells. Your answer for “Net income” will be verified.

x: Enter appropriate data in yellow cells. Your answer for “Net income” will be verified.

Cost of goods sold

Selling expenses

General and administrative expense

Total expenses

Ratios

Current ratio

Current assets:

Cash

x: Enter appropriate data in yellow cells. Your answers for “Ratios” will be verified.

Merchandise inventory

Prepaid insurance

Total current assets

$0

Current liabilities

ERROR:#DIV/0!

Acid-test ratio

Quick assets: Cash

Gross margin ratio:

Problem 6-4A, Part 1 ONLY

Student Name:
0
Part 1
0

0

$0

Add:

0

Deduct:

$ –

$0 Try again.

GB518 Unit 03 Assignment
CLARK COMPANY
Bank Reconciliation
31-Jul-11
Bank statement balance
	Add:
Deposit of July 31
	Deduct:
Checks No. 3031
3065
3069
Adjusted bank balance		Try again.
Book balance
Proceeds of note less
collection charge
NSF check
Service charge
Error (Check 3056)
Adjusted book balance