2) The company also provide the following details: Total current assets $57,000; supplies $4,000; average collection period 60.83 days; days' sales in inventory 97.33 days; sales 90,000; cost of goods sold 75,000. Calculate cash given the previous information.
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- Branton Ltd. had cash sales of $56,390, credit sales of $42,810, sales returns and allowances of $6,450, and sales discounts of $5,120. The company's net sales for this period___. A. $88,200 B. $87,630 C. $92,180 D. $93,830 E. $95,900The cost of merchandise sold for Kohl’s Corporation for a recent year was $12,265 million. The balance sheet showed the following current account balances (in millions): Balance,End of Year Balance,Beginning of YearMerchandise inventories $4,038 $3,814Accounts payable 1,251 1,511Determine the amount of cash payments for merchandise.Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 73.0 days² Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $ $ $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 90,000 90,000
- How much is net income?Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to findABC Inc. has the following data. What is the firm's cash (conversion) cycle? Inventory Conversion Period = 38 days Receivables Collection Period = 19 days Payables Deferral Period = 26 days
- Edison Co. reported the following for the current year: net sales of $80,000; cost of goods sold of $56,000; net income of $16,000; beginning balance of total assets of $60,000; and ending balance of total assets of $68,000. Compute (a) profit margin and (b) return on total assets.A classified income statement showed net sales of $630,000, cost of goods sold of $342,000, and total operating expenses of $192,000 for the fiscal year ended June 30, 2019. 1. What was the gross profit on sales? 2. What was the net income from operations?Prestige Company has determined the following information for Its recent fiscal year: Days inventory outstanding 50.6 days Days payable outstanding 85.9 days Days accounts receivable outstanding 42.2 days Compute the length of Prestige Company's cash conversion cycle. O 178.7 days O 128.1 days O 77.5 days O 94.3 days O 6.9 days
- Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 73.0 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% aCalculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Cash Accounts receivable Inventories Fixed assets Total assets Sales $ $ Balance Sheet $270,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 54,000 67,500Calculating Cycles Consider the following financial statement information for the Hop Corporation: Item Beginning Ending Inventory $16,284 $19,108 Accounts Receivable 11,219 13,973 Accounts Payable 13,960 16,676 Net Sales $219,320 Cost of Goods Sold 168,420 Calculate the operating and cash cycles. How do you interpret your answer?Cop

