Maurice Tutor

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    Argosy University/ Phoniex University/
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    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Sep 2017 My Price 5.00

Yang Company

1. Yang Company reported net income of $37,925 and net sales of $390,000 for the current year. Calculate the company’s profit margin and interpret the result. Assume that its competitors earn an average profit margin of 15%.

2. Jordan Air has the following information in its unadjusted and adjusted trial balances. What are the adjusting entries that Jordan Air likely recorded?

Unadjusted                        Adjusted

Debit     Credit                    Debit     Credit

Prepaid insurance . . . . . . . . . . $6,200                                      $5,900

Salaries payable . . . . . . . . . .                        $ 0                                          $1,400

Answers

Maurice Tutor
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Status NEW Posted 10 Sep 2017 03:09 PM My Price 5.00

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