: Accounting equation and financial statement purposes.
= (Revenue – COGS) / Revenue = (1,000,000 – 600,000) / 1,000,000 = 40% (Increased from 37.5% in 2024 – good sign) accounting exit exam question and solutions wit new
If a company has assets of $150,000 and owner’s equity of $60,000, what is the total amount of liabilities? a) $60,000 b) $90,000 c) $150,000 d) $210,000 : Accounting equation and financial statement purposes
= COGS / Average Inventory = 600,000 / 120,000 = 5.0 times (Slower than 2024’s 5.0? Actually 2024: 500k/100k=5.0 – same; no deterioration) 000 – 600