Answered: 2011 2012 2013 2014 Days' Sales in…

2011 2012 2013 2014 Days' Sales in Inventory Days' Sales in Receivables 81 69 62 46 20 46 119 144 Accounts payable period 84 90 95 91 Cash cycle in days 17 25 85 98

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 5TF: LO4 Accounts receivable turnover is the number of times merchandise inventory turned over or was...

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Question

Based on the information for the past four years (attached in the screenshot), could you explain why the company’s cash cycle seems to be increasing, without going into any calculations? Also, what are two remedial actions the company could take to improve this situation?

2011
2012
2013
2014
Days' Sales in Inventory
Days' Sales in Receivables
81
69
62
46
20
46
119
144
Accounts payable period
84
90
95
91
Cash cycle in days
17
25
85
98

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LO4 Accounts receivable turnover is the number of times merchandise inventory turned over or was sold during the accounting period.
Suppose the following:Beginning Inventory = 11257Ending Inventory= 12407Beginning Receivables = 6167Ending Receivables = 6879Beginning Payables = 8498Ending Payables = 8829Credit Sales = 93480Cost of Goods Sold = 72325Calculate the following (round final answers to 2 decimal places):Operating Cycle = daysCash Cycle = days
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Cost of goods sold Average inventory 2020 2021 2022 $923,550 $980,640 126,290 Inventory Turnover 7.3 2021 6.3 5.3 156,510 2022 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell invento (Round inventory turnover to 2 decimal places, e.g. 18.42 and number of days to 1 decimal place, e.g. 13.6., $1,149,910 $1,329,510 208,410 Number of Days 2023 321,820 days days days 2024 $1,408,530 451,860
Princeton's detailed age analysis of trade receivables at 31 December 2020 shows the following: Customername Totaloutstanding £ Creditlimit £ 0-30days £ 31-60days £ 61-90days £ Over 90days £ A. Ames 16200 15000 2000 8700 2500 3000 B.Bristow 18300 25000 18300 - - - C.Chen 4700 4800 - 2000 2700 - TOTAL 39200 - 20300 10700 5200 3000 Notes:• The company offers 30 days credit to its customers.• The credit is offered to the customers based on words of mouth• Ames is disputing the quality of some of the goods and refusing to pay, no decision hasbeen made yet (£3,000 over 90 days)• Chen has just put in an order for £5,000, he is a good friend of the directorRequired:What are the key points arising from the credit controller's review in respect of each tradereceivable balance and what suggestions can be made to improve the aged analysis report?
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Bradley has an inventory turnover rate solve this accounting questions
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Purchases of an inventory item during last month vere as follows: Number of items Unit price $5.00 5 10 8 15 $8.00 $6.00 $3.00 What was the weighted average price per item? O a Ob O c Od $5.21 $49.50 $55.50 $5.50
5. PE.07-08B H Show Me How eBook Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Tango Company follows: 20Y7 20Y6 Cost of merchandise sold $3,864,000 $4,001,500 Inventories: Beginning of year 770,000 740,000 End of year ৪40,000 770,000 a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. Inventory Turnover 20Y7 20Y6 b. Determine the days' sales in inventory for 20Y7 and 20Y6. Assume 365 days a year. Round interim calculations and final answers to one decimal place. Days' Sales in Inventory 20Y7 days 20Y6 days c. Does the change in inventory turnover and the days' sales in inventory from 20Y6 to 20Y7 indicate a favorable or an unfavorable trend?