Using the information provided, what is the accounts payable cycle for the firm?Allied Industries, Inc.Selected Income Statement Items, 2017Cash Sales $1,500,000Credit Sales $7.500,000Total Sales $9,000,000COGS $6,000,000Allied Industries, Inc.Selected Balance Sheet Accounts12/31/2017 12/31/2016 ChangeAccounts Receivable $270,000 S240.000 S30,000Inventory $125,000 $100,000 S25,000 Allied Industries, Inc.Selected Income Statement Items, 2017Cash Sales $1,500,000Credit Sales $7,500,000Total Sales $9,000,000COGS $6,000,000Allied Industries, Inc.Selected Balance Sheet Accounts12/31/2017 12/31/2016 ChangeAccounts Receivable $270,000 $240,000 $30,000Inventory $125,000 $100,000 $25,000Accounts Payable $110,000 S90,000 S20,000

In this we have to find out account payable turnover in year that means for how many days account…

Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales $7,500.000 Total Sales $9,000,000 COGS $6,000,000 Allied Industries, Inc. Selected Balance Sheet Accounts 12/31/2017 12/31/2016 Change Accounts Receivable $270,000 $240,000 $30,000 Inventory $125,000 $100,000 S25,000 Accounts Payable $110,000 S90,000 S20,000

Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales $7,500.000 Total Sales $9,000,000 COGS $6,000,000 Allied Industries, Inc. Selected Balance Sheet Accounts 12/31/2017 12/31/2016 Change Accounts Receivable $270,000 $240,000 $30,000 Inventory $125,000 $100,000 S25,000 Accounts Payable $110,000 S90,000 S20,000

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Clean Company Balance Sheet Cash 68,200 Accounts payable 113,500 Accounts 295,000 Notes payable 73,900 receivable Other current Inventories 212,000 101,000 liabilities Total Current Total Current 575,200 288,400 assets liabilities PP&E Net 257,400 Long-term debt 226,500 Total Equity 317,700 Total Liabilities + Total Assets 832,600 832,600 Equity Clean Company Income Statement Sales $1,414,600 Cost of sales 1,190,640 Gross profit 223,960 Operating expenses 125,840 Depreciation 36,520 EBIT 61,600 Interest expenses 21,560 Earnings before 40,040 taxes Taxes (40%) 16,016 Net profit 24,024
The following balances remained in Bop’s books after the preparation of the income statement for the year ended 30th April 2016. The profit for the year was $8650. $ Machinery 100 000 Trade receivables 9 420 Motor vehicle 12 000 Cash 50 Equipment 31 000 Inventory (1.5.15) 11,000 Inventory (30.4.16) 12 650 Capital 120 000 Bank overdraft 13 270 Drawings 7 100 Trade payables 10 300 Bank Loan 20 000 Prepare a statement of financial position at 30th April 2016.
The following information is available for Cullumber Products: 2014 2013 Accounts receivable $76,800 $94,720 Cost of goods sold 675,840 742,400 Inventory (ending) 66,560 87,040 Net cash provided by operating activities 281,600 217,600 Net sales 1,157,760 1,203,200 Capital expenditures 51,200 48,640 Dividends 31,104 40,960 Compute the following for 2014: (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times Average collection period enter a number of days rounded to 1 decimal place days
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 Gross sales $ 20,400 $ 16,050 Sales returns and allowances 900 100 Net sales $ 19,500 $ 15,950 Cost of merchandise (goods) sold 11,650 8,650 Gross profit $ 7,850 $ 7,300 Operating expenses: Depreciation $ 840 $ 670 Selling and administrative 3,250 2,700 Research 690 570 Miscellaneous 500 370 Total operating expenses $ 5,280 $ 4,310 Income before interest and taxes $ 2,570 $ 2,990 Interest expense 700 570 Income before taxes $ 1,870 $ 2,420 Provision for taxes 748 968 Net income $ 1,122 $ 1,452 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $ 12,700 $…
Level Up reported the following information for 2016 and 2017: Accounts payable, 31 December 2016 $50 000 Accounts payable, 31 December 2017 $80 000 Inventory, 31 December 2016 $60 000 Inventory, 31 December 2017 $150 000 Cost of goods sold, 2017 $850 000 Assume that all merchandise purchases are on account. How much cash was paid to suppliers for inventory purchases during 2017? O $1 060 000 O $910 000 O $970 000 O $790 000
The following information in the table is available for Huge Corporation in 2018. Huge’s cost of goods sold for 2018 is Sales $ 1,500,000 Beginning Inventory $ 360,000 Ending Inventory $ 190,000 Purchase $ 430,000 a. $400,000 b. $600,000 c. $690,000 d. $880,000
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 Gross sales $ 22,800 $ 17,850 Sales returns and allowances 900 100 Net sales $ 21,900 $ 17,750 Cost of merchandise (goods) sold 11,050 7,700 Gross profit $ 10,850 $ 10,050 Operating expenses: Depreciation $ 1,080 $ 790 Selling and administrative 5,050 3,900 Research 930 690 Miscellaneous 740 490 Total operating expenses $ 7,800 $ 5,870 Income before interest and taxes $ 3,050 $ 4,180 Interest expense 940 690 Income before taxes $ 2,110 $ 3,490 Provision for taxes 844 1,396 Net income $ 1,266 $ 2,094 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $ 11,800…
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 Gross sales $ 21,400 $ 16,800 Sales returns and allowances 1,000 100 Net sales $ 20,400 $ 16,700 Cost of merchandise (goods) sold 11,400 8,400 Gross profit $ 9,000 $ 8,300 Operating expenses: Depreciation $ 940 $ 720 Selling and administrative 4,000 3,200 Research 790 620 Miscellaneous 600 420 Total operating expenses $ 6,330 $ 4,960 Income before interest and taxes $ 2,670 $ 3,340 Interest expense 800 620 Income before taxes $ 1,870 $ 2,720 Provision for taxes 748 1,088 Net income $ 1,122 $ 1,632 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $ 13,200…
Current Assets Cash A/R Inventory Total Net Plant & Equip Total Assets Tomson Corporation 2013 and 2014 Statement of Financial Position Assets 2013 $ 8,436 21,530 38.760 $ 68,726 $ 226.706 $295,432 2014 $ 10,157 23,406 42.650 $ 76,213 Current Liabilities A/P Notes Payable Total 1. The current ratio for each year 2. The quick ratio for each year Long-term Debt Owner's Equity Common Stock & Paid-in Surplus Retained Earnings $248,306 Total Total Liabilities & $324,519 Owners Equity Liabilities 3. The cash ratio for each year 4. The NWC to total assets ratio for each year 2013 5. The debt-equity ratio and the equity multiplier for each year 6. The total debt ratio and the long-term debt ratio for each year Round all answers to 2 decimal places. $ 43,050 18.384 $61.434 $ 25.000 $ 40,000 168.998 $ 208,998 $ 295,432 2014 1. Prepare: The 2014 combined common-size, common-base year statement of financial position for Tomson. Round your intermediate calculations to 2 decimal places…
Jinchuriki Inc.'s Financial Statement for years 2014-2015. Compute of the Average Sales Period/ Average Age of Inventory. * INCOME STATEMENTS BALANCE SHEETSs 2015 Assets $ 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories 500 2015 50 2014 2014 $ 4,760 3,560 Net sales 60 S COGS (excl. depr.) Depreciation Other operating expenses EBIT 40 170 380 500 480 820 1,000 $ 1,300 1,700 $ 3,000 $ 1,550 2,000 $ 3,550 550 Total CA 120 Interest expense Pre-tax earnings 100 Net PP&E 450 380 Total assets 152 Taxes (40%) NI before pref. div. 180 228 Liabilities and equity 8 Accounts payable 220 Accruals Notes payable 270 Preferred div. 8 $ 190 200 Net income 262 280 300 130 280 $ 600 1,000 $ 1,600 Other Data Total CL 780 S50 Long-term bonds $170 Common dividends $48 1,200 S 1,980 100 Addition to RE $214 Total liabilities 40% Preferred stock Common stock Retained earnings Total common equity Total liabs. & equity 40% 50 Tax rate 100 Shares of common stock 50 500 500 $5.24 $4.40…
Changes in Various RatiosPresented below is selected information for Brimmer Company: 2013 2012 Sales revenue $911,000 $840,000 Cost of goods sold 576,000 542,000 Interest expense 21,000 20,000 Income tax expense 28,000 24,000 Net income 62,000 52,000 Cash flow from operating activities 66,000 55,000 Capital expenditures 43,000 45,000 Accounts receivable (net), December 31 127,000 120,000 Inventory, December 31 197,000 160,000 Stockholders' equity, December 31 451,000 400,000 Total assets, December 31 731,000 660,000 RequiredCalculate the following ratios for 2013. The 2012 results are given for comparative purposes. Round answers to one decimal place. Use 365 days in a year. 2012 2013 1. Gross profit percentage 35.5% Answer % 2. Return on assets 8.3% Answer % 3. Return on sales 6.2% Answer % 4. Return on common stockholders' equity (no preferred stock was outstanding) 13.9% Answer % 5. Accounts receivable…
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