( 2) Compute the gross margin percentage and net profit margin ratio. Alpha Company’ s assets at the beginning of the year were $ 1,500,000, and the assets were $ 1,400,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings.
Question 6.( TCO F) This is a 2-part question. Part 1) Journalize the adjusting entries below at year-end December 31, XXXX. Please share your supporting calculations for the adjusting entries requiring computations.( a) The unadjusted balance of the Supplies account is $ 2,200. The total cost of supplies remaining is $ 1,000.( b) Accrued Service Revenue of $ 9,000.( c) Equipment was purchased at the beginning of the year for $ 45,000. The equipment’ s useful life is 5 years, and the residual value is $ 5,000. Record the depreciation for this year.( d) The weekly payroll is $ 25,000. Employees are owed for 3 days of a 5-day work week.( e) Beginning unearned service revenue is $ 7,500, and ending unearned service revenue is $ 3,500.( f) The business has interest expense of $ 750 that is due in January.( 30 points)
Q-7( TCO G) Please review the following 6 ratios for Langley Company and XYZ Inc. for the year ended 2014, and address the 2 questions below. Instructions: This is a 2-part question.( 1) Explain the meaning of each of the Langley Company ratios above.( 18 points)( 2) State which company performed better for each ratio.( 18 points)( Points: 36)