Homework Answers
A.
Accounts receivable turnover = Net credit sales / Average
accounts receivable
Net credit sales = 2,660
Accounts receivable = 3,275
Accounts receivable turnover = 2,660 / 3,275 = 0.81 times
Inventory turnover = Cost of goods sold / Average
inventory
= 1,645 / 2,420
= 0.6798 times
B.
Day's sales in receivables = (Accounts receivables / Net credit
sales) * 365
= (3,275 / 2,660) * 365
= 449.39 or 449 days
Day's sales in inventory = (Ending inventory / cost of goods
sold) * 365
= (2,420 / 1,645) * 365
= 536.96 or 537 days
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e s This act includes three tim Question 1. A ation ratio The following information for...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory...
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i put the formulas for each question 2. Given the following data: 1989 1990 Cash $...
i put the formulas for each question
2. Given the following data: 1989 1990 Cash $ 70,000 Marketable Securities 25,000 Accounts Receivable 120,000 Merchandise Inventory 190,000 Current Liabilities 160,000 Credit Sales (N ET SALES) 3,000,000 Cost of Goods Sold 59,000 21,000 140,000 240,000 152,000 2,716,000 2,160,000 2,500,000 Calculate for 1990: a. Working Capital b. Current Ratio c. Quick Ratio d. Inventory Turnover e Accounts Receivable Turnover a. Working Capital: current Asset current liability b. Current Ratio: current Habilities c. Quick...
→ c e dugen.wileyplus.com/edugen/student/mainfr.uni Presented below is information related to Skysong Inc. SKYSONG INC. BALANCE SHEET...
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Click to add title e-Shop, Inc. has net sales on account of $1,500,000. The average net...
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1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round you...
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
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At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
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Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
i put the formulas for each question
2. Given the following data: 1989 1990 Cash $ 70,000 Marketable Securities 25,000 Accounts Receivable 120,000 Merchandise Inventory 190,000 Current Liabilities 160,000 Credit Sales (N ET SALES) 3,000,000 Cost of Goods Sold 59,000 21,000 140,000 240,000 152,000 2,716,000 2,160,000 2,500,000 Calculate for 1990: a. Working Capital b. Current Ratio c. Quick Ratio d. Inventory Turnover e Accounts Receivable Turnover a. Working Capital: current Asset current liability b. Current Ratio: current Habilities c. Quick...
→ c e dugen.wileyplus.com/edugen/student/mainfr.uni Presented below is information related to Skysong Inc. SKYSONG INC. BALANCE SHEET DECEMBER 31, 2017 $44,600 $109,100 14,900 Cash Receivables Less: Allowance Inventory Prepaid insurance Land Equipment (net) Notes payable (short-term) Accounts payable Accrued liabilities Common stock (par $5) Retained earnings $50,400 31,800 5,100 261,900 138,700 94,200 170,100 8,100 19,900 151,000 $487,900 $487,900 $1,408,500 SKYSONG INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue Cost of goods sold Inventory, Jan. 1, 2017 $200,600...
Click to add title e-Shop, Inc. has net sales on account of $1,500,000. The average net accounts receivable are $610,000. Calculate the days' sales in receivables. Zebra, Inc. cost of goods sold for the year is $2,300,000, and the average merchandise inventory for the year is $139,000. Calculate the inventory turnover ratio of the company. NOTES COMMENTS B -- + 70 X 14.1.2020
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
E13-19 (L04) (Ratio Computations and Effect of Transactions) Presented below is information related to Carver Inc CARVER INC. BALANCE SHEET DECEMBER 31, 2017 50,000 32,000 5,000 260,000 141,000 Cash Receivables $ 45,000 Notes payable (short-term) Accounts payable Accrued liabilities Common stock (par $5) Retained earnings $110,000 15,000 Less: Allowance Inventory Prepaid insurance Land Equipment (net) 95,000 170,000 8,000 20,000 150,000 $488,000 $488,000 CARVER INC INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $1,400,000 Cost of goods sold...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
Required information Problem 13-5A Comparative ratio analysis LO A1, P3 [The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 19,500 $ 37,000 Accounts receivable, net 39,400 55,400 Current notes receivable (trade) 9,800 8,000 Merchandise inventory 84,640 132,500 Prepaid expenses 5,300 7,650 Plant assets, net 310,000 1304,400 Total assets $468,640 $544,950 Data...
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