coleman industries worksheet for the month ended april 30, 20xx account title income statement balance sheet…

coleman industries worksheet for the month ended april 30, 20xx account title income statement balance sheet debit credit debit credit cash 1,500.00 accounts receivable 170.00 supplies 480.00 prepaid insurance 1,400.00 accounts payable anthony coleman, capital 875.00 anthony coleman, drawing 400.00 1,725.00 sales 4,775.00 advertising expense 525.00 insurance expense 400.00 miscellaneous expense 250.00 rent expense 900.00 supplies expense 275.00 2,350.00 4,775.00 3,950.00 2,600.00 net income 2,425.00 1,350.00 4,775.00 4,775.00 3,950.00 3,950.00 what is the component percentage for total expenses? a. 33.30% b. 49.21% c. 66.70% d. 100%

coleman industries worksheet for the month ended april 30, 20xx account title income statement balance sheet debit credit debit credit cash 1,500.00 accounts receivable 170.00 supplies 480.00 prepaid insurance 1,400.00 accounts payable anthony coleman, capital 875.00 anthony coleman, drawing 400.00 1,725.00 sales 4,775.00 advertising expense 525.00 insurance expense 400.00 miscellaneous expense 250.00 rent expense 900.00 supplies expense 275.00 2,350.00 4,775.00 3,950.00 2,600.00 net income 2,425.00 1,350.00 4,775.00 4,775.00 3,950.00 3,950.00 what is the component percentage for total expenses? a. 33.30% b. 49.21% c. 66.70% d. 100%

Answer

Explanation:

Step1: Calculate total expenses

Total expenses = Advertising Expense + Insurance Expense+ Miscellaneous Expense + Rent Expense+ Supplies Expense Total expenses = $525 + 400+250 + 900+275=2350$

Step2: Calculate component - percentage

Component percentage for total expenses=$\frac{\text{Total expenses}}{\text{Sales}}\times100%$ Sales = $4775$ Component percentage = $\frac{2350}{4775}\times 100%\approx49.21%$

Answer:

B. 49.21%