Bank Reconciliation Statement Essay - 275 Words

Bank Reconciliation Statement (Essay Sample) Content: Problem BTN 4-9 Net Sales Cost of sales Nokia 40984 27720 Research in motion 14953 8369 Apple 42905 25683 Gross margin ratio=Gross profit/Net salesGross profit=Net sales-cost of salesGross margin ratio of Nokia=(40984-27720)/40984=0.3236Gross margin ratio of Research in motion=(14953-8369)/14953=0.4403Gross margin ratio of Apple=(42905-25683)/42905=0.4014Ranking the companies from highest to lowest in terms of gross margin ratio1.Research in motion2.Apple3.NokiaProblem 4-3ARex company adjusted trial balanceCash 2200 Merchandise Inventory 11500 11100 Store supplies 4800+1650=6450 Prepaid insurance 2300 Store equipment 41900 Accumulated depreciation-store equipment 15000 Accounts payable 9000 Common stock 5000 Retained earnings 27000 Dividends 2000 Sales 104000 Sales discounts 1000 Sales returns and allowances 2000 Cost of goods sold 37400 Depreciation expense-store equipment 0+1400=1400 Salaries expense 31000 Insurance expense 0 Rent expense 14000 Stor e supplies expense 0 Advertising expense 9900 Expired insurance 1500 Administrative expense 1...