Carla Vista Corporation's comparative balance sheet is presented below.CashAccounts receivableInventoryLandBuildingsAccumulated depreciation-buildingsTotalAccounts payableCommon sharesRetained earningsTotala.b.C.d.e.f.CARLA VISTA CORPORATIONBalance SheetDecember 31h.i.j.k.Current ratioAcid-test ratioReceivables turnoverCollection periodInventory turnoverDays sales in inventoryProfit marginAsset turnoverReturn on assetsReturn on equity2024Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000.Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to O decimal places e.g. 52 and all other answersto 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.)Debt to total assets$5,10013,0009,50019,00090,000(14,000)$122,600$11,66075,00035,940$122,60020232024$3,20023,7007,50025,00090,000(9,000)$140,400$32,60069,00038,800$140,400timesdaystimesdays%times%%%

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Description: Carla Vista Corporation's comparative balance sheet is presented below.CashAccounts receivableInventoryLandBuildingsAccumulated depreciation-buildingsTotalAccounts payableCommon sharesRetained earningsTotala.b.C.d.e.f.CARLA VISTA CORPORATIONBalance

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Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days

Carla Vista Corporation's comparative balance sheet is presented below. Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings Total Accounts payable Common shares Retained earnings Total CARLA VISTA CORPORATION Balance Sheet December 31 a. b. C. d. Current ratio Acid-test ratio Receivables turnover 2024 Collection period $5,100 13,000 9,500 19,000 90,000 (14,000) $11,660 75,000 35,940 $122,600 2023 $3,200 2024 23,700 $122,600 $140,400 7,500 Carla Vista's 2024 income statement included net sales of $110,000, cost of goods sold of $60,000, and profit of $17,000. Calculate the following ratios for 2024. (Round Collection period and Days sales in inventory to 0 decimal places e.g. 52 and all other answ o 1 decimal place, e.g. 52.7 or 52.7%. Use 365 days for calculation.) 25,000 90,000 (9,000) $32,600 69,000 38,800 $140,400 times days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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