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Compute the company's receivables turnover ratio? General accounting

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Assume Martinez Company has the following reported amounts: Sales revenue $ 610,000, Sales returns and allowances $ 30,000, Cost of goods sold $ 396,500, and Operating expenses $ 84,000. (a) Compute net sales. Net sales (b) Compute gross profit. Gross profit (c) Compute income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate %24

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Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%

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take&inprogress=false Assume the following sales data for a company: Current year $718,386 Preceding year 639,310 What is the percentage increase in sales from the preceding year to the current year (rounded to one decimal place)? O a. 23.4% Ob. 1.4% O c. 12.4% O d. 11.0%

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TB MC Qu. 16-106 (Algo) Jester Corporation's most recent income statement... Jester Corporation's most recent income statement appears below: Income Statement Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $ 230,000 105,000 125,000 37,000 88,000 19,000 69,000 20,700 $ 48,300 The beginning balance of total assets was $230,000 and the ending balance was $223,000. The return on total assets is closest Multiple Choice 30.5% O 27.2% O 38.9% 21.3%

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omplete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%Total liabilities-to-assets ratio: 45%Quick ratio: 1.00Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $   Cost of goods sold        Balance Sheet Assets   Liabilities and Equity Cash $      Accounts payable $    Accounts receivable        Long-term debt     50,000 Inventories        Common stock      Fixed assets        Retained earnings     100,000 Total assets $   400,000   Total liabilities and equity $

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Calculate the company's accounts receivable turnover

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CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 448,600 297,150 151,450 98,600 5,000 47,850 19,276 $ 28,574 Cost of goods sold Gross profit Operating expenses Interest expense Profit before taxes Income tax expense Net profit Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Property, plant and equipment, net Total assets Req 1 and 2 Req 3 Req 4 CABOT CORPORATION Balance Sheet December 31 Liabilities and Equity Req 5 8,000 Accounts payable 8,800 Accrued wages payable 32,400 Income taxes payable 2,750 Share capital 150,300 Retained earnings $ 238,400 Total liabilities and equity Complete this question by entering your answers in the tabs below. Compute the current ratio and acid-test ratio. 36,150 Long-term note payable, secured by mortgage on property, plant and equipment Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days'…

Use the following to answer questions 6 – 7 MC, Inc., reported the following amounts at the end of the year: Total sales $888,000 Accounts receivable Sales allowances 60,000 3,500 Allowance for Uncollectible accounts 1,400 Sales discounts 18,000 9,000 Sales returns Determine total contra revenues for $ the company 6. 7. $ Determine net sales for the company

a. Prepare a common-sized income statement comparing the results of operations for Dawg Electronics Company with the industry average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Dawg Electronics Dawg Electronics Electronics Industry Company Amount Company Percent Average Sales $3,750,000 100.0 % 100.0% Cost of goods sold (2,062,500) 550.0 % (61.0)% Gross profit $1,687,500 45.0 % 39.0% Selling expenses $(1,125,000) 0.3 % (23.0)% Administrative expenses (262,500) 0.7 % (10.0)% Total operating expenses $(1,387,500) 37.0 % (33.0)% Operating income $300,000 8.0 % 6.0% Other revenue and expense: Other revenue 15,000 0.4 % 3.0% Other expense (3,750) 0.1 % (1.0)% Income before income tax $311,250 8.3 % 8.0% Income tax expense (93,750) 25 % (2.5)% Net income $217,500 5.8 % 5.5%

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Financial Ratios The financial statements for Jackson Enterprises (income statement, statement of owner’s equity, and balance sheet) are shown.   Jackson EnterprisesIncome StatementFor Year Ended December 31, 20-- Revenue from sales:           Sales     $170,000      Less: Sales returns and allowances     10,000          Net sales       $160,000 Cost of goods sold:            Merchandise inventory, January 1, 20--   $6,800        Estimated returns inventory, January 1, 20--   1,200 $8,000      Purchases   $92,930        Less: Purchases returns and allowances $1,782                   Purchases discounts 1,802 3,584        Net purchases   $89,346        Add: Freight-in   945            Cost of goods purchased     90,291      Goods available for sale     $98,291      Less: Merchandise inventory, Dec. 31, 20--   $9,320                Estimated returns inventory, Dec. 31, 20--   1,180 10,500          Cost of goods sold       87,791 Gross profit…

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Financial Ratios The financial statements for Jackson Enterprises (income statement, statement of owner’s equity, and balance sheet) are shown.   Jackson EnterprisesIncome StatementFor Year Ended December 31, 20-- Revenue from sales:           Sales     $170,000      Less: Sales returns and allowances     10,000          Net sales       $160,000 Cost of goods sold:            Merchandise inventory, January 1, 20--   $8,700        Estimated returns inventory, January 1, 20--   1,300 $10,000      Purchases   $92,940        Less: Purchases returns and allowances $1,850                   Purchases discounts 1,802 3,652        Net purchases   $89,288        Add: Freight-in   913            Cost of goods purchased     90,201      Goods available for sale     $100,201      Less: Merchandise inventory, Dec. 31, 20--   $7,300                Estimated returns inventory, Dec. 31, 20--   1,200 8,500          Cost of goods sold       91,701 Gross profit…