King Sporting Goods reports net income of $100,000, net sales of $500,000, and average assets of $1,000,000. The profit margin is:Multiple Choice50%.20%.5 times.10%.

Larry King sold his home in Sandton for R5 million. The base cost of the asset was calculated at R1 750 000. He occupied 20% of his home to run his business from the premise. Calculate Larry’s taxable gain for the current year of assessment.a.R 650 000b.R 484 000c.R 3 250 000d.R 224 000

King Company uses the percentage of sales method for recording bad debts expense.  For the year cash sales are $500,000 and credit sales are $2,000,000.  Based on past experience it is estimated that 2% is the sales percentage to use to estimate bad debts.  What adjusting entry will King Company make to record the bad debts expense?Question 8Answera.DR Bad Debts Expense $50,000; and CR Accounts Receivable $50,000b.DR Bad Debts Expense $40,000; and CR Accounts Receivable $40,000c.DR Bad Debts Expense $50,000; and CR Allowance for Doubtful Debts $50,000d.DR Bad Debts Expense $40,000; and CR Allowance for Doubtful Debts $40,000

King Ltd's contribution margin per unit is $2 and the break-even number of units is 2000. If King Ltd sells 5000 units, what will their profit? A. $4000 B. $6000 C. $10 000 D. $2000

Presented below is information related to Kingbird Company at December 31, 2025, the end of its first year of operations.Sales revenue$287,320 Cost of goods sold126,540 Selling and administrative expenses53,200 Gain on sale of plant assets31,270 Unrealized gain on available-for-sale debt investments10,590 Interest expense5,720 Loss on discontinued operations10,870 Dividends declared and paid4,570

For the year, Simmons Incorporated reports net sales of $100,000, cost of goods sold of $80,000, and an average inventory balance of $40,000. What is Simmons’ gross profit ratio?Multiple Choice20%.40%.50%.