Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory S 12,435 $ 15,615 Accountsreceivable 6,120 6,287 Accounts payable 7,930 9,140 Credit sales $ 143,187 Cost of goods sold 79,218 Calculate the operating and cash cycles. (Use365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)Answer is complete but not entirely correct.Operating cycle 80.87selected answer correctCash cycledays.40.64selected answer incorrect days

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Description: Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory S 12,435 $ 15,615 Accountsreceivable 6,120 6,287 Accounts payable 7,930 9,140 Credit sales $ 143,187 Cost of goods sold 79,218 Calculate

Inventory=$12435 and $15615Account receivable=$6120 and $6287Cost of good sold=$79218Credit…

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Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory S 12,435 S 15,615 Accounts receivable 6,120 6,287 Accounts payable 7,930 9,140 Credit sales $ 143,187 Cost of goods sold 79,218 Calculate the operating and cash cycles. (Us 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Operating cycle 80.87selected answer correct Cash cycle days 40.64selected answer incorrect days

Consider the following financial statement information for the Newk Corporation: Item Beginning Ending Inventory S 12,435 S 15,615 Accounts receivable 6,120 6,287 Accounts payable 7,930 9,140 Credit sales $ 143,187 Cost of goods sold 79,218 Calculate the operating and cash cycles. (Us 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Operating cycle 80.87selected answer correct Cash cycle days 40.64selected answer incorrect days

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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The following data were taken from the financial statements of Tokyo Corporation: Annual Sales - P1,250,666, Cost of Goods Sold - P1,014,540, Inventory - P250,000, Accounts Receivable - P300,000 and Accounts Payable - P150,000. Compute for the Inventory Conversion Period. ______ days. Use whole number, no peso sign.
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AB Ltd. has MCC has prepared the Income statement including the following data (all sales are on account): Sales $80,000 Cost of Goods Sold Gross Profit Expenses Net Profit $50,000 $ 25,000 $ 10,000 $15,000 The comparative balance sheet shows the following data (by definition, accounts payable relates to merchandise purchases only): End of Year Beginning of Year Accounts Receivables (net) Inventory Prepaid Expenses Accounts Payable $7,000 $3,000 $2,000 $1,140 $5,280 $2,000 $1,000 $1,500 Required 1: What is the amount of Cash received from Customers? $ Required 2: What is the amount of Cash paid for merchandise purchase? $
Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The company's comparative balance sheets included the following: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 What amount of cash was received for interest revenue during 2024? Select one: $65,500 $63,900 $67,100 $56,400
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Judon Corp. provides the following information from its annual report. Assume all revenues are credit sales. The cost of revenues can be used as an approximation of the company's purchases for the year. Revenues $ 546,190 Cost of revenues $ 340,275 Inventories as of 31 January 2022 $44,064 Inventories as of 31 January 2021 $41,020 Accounts payable as at 31 January 2022 $58,600 Accounts payable as at 31 January 2021 $51,800 Accounts receivable as at 31 January 2022 $7,482 Accounts receivable as at 31 January 2021 $5,434 Compute the following financial ratios for Judon Corp for 2022 1. Account Receivable Turnover Ratio (Times)? 2. Collection Interval (DSO) / Days? 3. Inventory Turnover Ratio (Times) ? 4. Holding Interval (Days) ? 5. Account Payable Turnover Ratio (Times)? 6.Payment Interval (Days)? 7. Does Judon Corp need short-term financing? 8. Using the information provided, compute the change in operating working captial
Answer the following questions by using the following data taken from the financial statement of 2 companies:Company ABC Company DEFAnnual Sales ( on Credit ) $1,324,600 Annual Sales ( on Credit ) $2,748,308Cost of Goods Sold $936,720 Cost of Goods Sold $1,709,406Average Inventory $225,025 Average Inventory $356,394Average Accounts Receivable $346,007 Average Accounts Receivable $300,000Average Accounts Payable $175,456 Average Accounts Payable $150,000 1. Which company shows a better standing when comparing its DPO? 2. Which company shows a better standing when comparing its CCC?
Dahlia Corporation has a current accounts receivable balance of $329,800. Credit sales for the year just ended were $4,369,850. a. What is the company's receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables c. Average collection period times days days
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Valenzuela, Incorporated, has a cash cycle of 47 days, an operating cycle of 70 days, and an inventory period of 30.5 days. The company reported cost of goods sold in the amount of $349,000, and credit sales were $572,000. What is the company's average balance in accounts payable and accounts receivable? Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Average accounts payable Average accounts receivable
Question: Presented below is the information for Skysong Company. Beginning of the year Accounts Receivable balance was $23600. Net sales (all on account) for the year were $103100. Skysong does not offer cash discounts. Collections on accounts receivable during the year were $90300. Skysong is planning to factor some accounts receivables at the end of the year. Accounts totaling $14100 will be transfered to Credit Factors, Inc with recourse. Credit Factor will retain 7% of the balances for probable adjustments and assesses a finance charge of 6%. The fair value of the recourse obligation is $1021. Prepare the journal entry to record the sale of the receivables. Compute Skysongs accounts receivable turnover for the year, assuming the receivables are sold.

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