Please Refer to the Following Trial Balance -How Much Is the Gross Profit Percentage?
A) 50

question 67

Multiple Choice

Please refer to the following trial balance. $$\begin{array} { | l | r | r | } \hline &{ \text { Debit } } & { \text { Credit } } \\\hline \text { Cash } & \$ 5,000 & \\\hline \text { Accounts receivable } & 14,000 & \\\hline \text { Inventory } & 20,000 & \\\hline \text { Supplies } & 5,000 & \\\hline \text { Land } & 100,000 & \\\hline \text { Accounts payable } & & \$ 3,000 \\\hline \text { Notes payable } & & 25,000 \\\hline \text { Capital } & &90,000 \\\hline \text { Drawing } & 1,000 & \\\hline \text { Sales revenues } & & 160,000 \\\hline \text { Sales returns and allowances } &2,000 & \\\hline \text { Sales discounts } & 3,000 & \\\hline \text { Cost of goods sold } &80,000 & \\\hline \text { Salary expense } &5,000 & \\\hline \text { Utility expense } &23,000 & \\\hline \text { Rent expense } & 18,000& \\\hline \text { Interest expense } &2,000 \\\hline \text { Totals } &\$ 278,000 & \$ 278,000 \\\hline\end{array}$$

-How much is the Gross profit percentage?

• A) 50.0%
• B) 51.6%
• C) 46.8%
• D) 48.4%

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Definitions:

Implicit Association Tests

Psychological assessments that measure the strength of associations between concepts (e.g., black or white, young or old) and evaluations (e.g., good or bad).

Functionalist Psychologists

Functionalist psychologists focus on how mental processes and behaviors help individuals adapt to their environments, emphasizing the purpose of psychological phenomena.

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Physiological Psychology

A branch of psychology that studies the relationship between behavior and the physical processes of the brain and other parts of the nervous system.