#Days in Accounts Receivable #Days in Inventory #Days in Accounts Payable Company A 60 50 100 Company B 55 40 40 Company C 65 40 125 Company D 70 35 70 Based on the data in the above table, rank the companies in order of liquidity from least liquid to most liquid. Answer in the form "ABCD" (this is not the correct answer.)

#Days in Accounts Receivable #Days in Inventory #Days in Accounts Payable Company A 60 50 100 Company B 55 40 40 Company C 65 40 125 Company D 70 35 70 Based on the data in the above table, rank the companies in order of liquidity from least liquid to most liquid. Answer in the form "ABCD" (this is not the correct answer.)

Name: #Days in AccountsReceivable#Days in Inventory#Days in AccountsPayable
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Description: #Days in AccountsReceivable#Days in Inventory#Days in AccountsPayableCompany A6050100Company B554040Company C6540125Company D703570Based on the data in the above table, rank the companies in order of liquidity from least liquid to most liquid. Answe

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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Data table (Click on the icon in order to copy its contents into a spreadsheet.) Inventory Common stock Cash Operating expenses Short-term notes payable Interest expense Depreciation expense Sales Accounts receivable Accounts payable Long-term debt Cost of goods sold Buildings and equipment Accumulated depreciation Taxes General and administrative expense Retained earnings 6,470 45,070 16,570 1,380 600 870 540 12,740 9,560 4,750 54,860 5,710 122,330 33,960 1,400 870 ? I X
oped Dok H Int 0 ence [The following information applies to the questions displayed below] Forten Company's current year Income statement, comparative balance sheets, and additional Information follow. For the year. (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of Inventory are on credit, and (4) all debits to Accounts Payable reflect Sens cash payments for Inventory. FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net income Assets Cash FORTEN COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Long-term notes payable Total liabilities…
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Ratios Calculated Year 1 Year 2 3.64 +Q+ Price-to-cash-flow 5.20 Inventory turnover 10.40 Debt-to-equity 0.70 8.32 0.56 Year 3 2.91 6.66 0.45 Based on the preceding information, your calculations, and your assumptions, which of the following statements can be included in your analysis report? Check all that apply. Cold Goose Metal Works Inc.'s ability to meet its debt obligations has improved since its debt-to-equity ratio decreased from 0.70 to 0.45. A decline in the inventory turnover ratio can be explained by the new Inventory management system that the company recently adopted, which led to more efficient inventory management. A decline in the debt-to-equity ratio implies a decline in the creditworthiness of the firm. A plausible reason why Cold Goose Metal Works Inc.'s price-to-cash-flow ratio has decreased is that investors expect lower cash flow per share in the future.
Presented below are selected account balances for Skysong Co. as of December 31, 20X1. Inventory 12/31/X1 Common Stock Retained Earnings Dividends Sales Returns and Allowances $60,380 73,910 44,880 18,039 Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense $224,260 16,250 37,419 29,860 11,879 Sales Discounts 15,240 Sales Revenue 417,310 Prepare closing entries for Skysong Co. on December 31, 20X1.
Use the following ratios from Walmart, Target, and Dollar General to answer Questions 12-13. Ratio Liabilities-to-equity ratio Times interest earned Cash from operations to total debt Walmart 1.246 11.49 0.787 Target O Target O Walmart O This cannot be determined based on the information given O Dollar General 1.275 15.11 0.447 Dollar General 1.17 7.85 0.974 Based on the information given, which of the three companies is better able to cover its interest expense with current income? 3.33 pts
q. 13 A company has $628 in inventory, $1,921 in net fixed assets, $300 in accounts receivable, $141 in cash, and $354 in accounts payable. What are the company’s total current assets? $769 $1,069 $2,990 $1,123 $1,423
The comparative balance sheets of IvanhoeClothiers are as follows: December 31, 2014 December 31, 2013 Cash $50,400 $36,120 Accounts receivable 26,880 17,200 Inventory 38,640 32,680 Total assets 504,000 498,800 Perform horizontal analysis for IvanhoeClothiers. (If amount and percentage are a decrease show the numbers as ne e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) Increase (Decrease) 2014 2013 Amount Percentage Cash $50,400 $36,120 % Accounts receivable 26,880 17,200 Inventory 38,640 32,680 Total assets 504,000 498,800 %
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The following information comes from the accounting records of Wildhorse Ltd.: Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets Liabilities and shareholders' equity Accounts payable Long-term debt Common shares Retained earnings Statement of Income Sales Cost of goods sold Other expenses Income tax Net income (a1) Sales Cost of goods sold Gross margin Other expenses Income taxes Net income Current ratio Quick ratio A/R turnover Average collection period Inventory turnover 2022 Days to sell inventory $34,900 101,700 164,000 639,000 345,000 $149,000 300,000 779,000 757,000 402,000 $1,284,600 $1,341,000 $1,556,000 56,600 254,160 2022 21,180 17,000 $4,180 100 % 74 % $1,284,600 $1,341,000 26 % $1,059,000 $1.199,000 783,660 24 % 1.6 % 0.39 % 2022 2023 $32,000 3.2 119,000 9.5 195,000 Based on the above information, analyze the changes in the company's profitability and liquidity, in addition to the management of accounts receivable…
1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
Fortune Corporation's comparative balance sheet showed noncash current assets and liabilities as follows: Dec. 31, Year 2 Dec. 31, Year 1 $7,639 $4,034 11,762 16,277 4,443 5,510 4,585 2,265 Accounts receivable Merchandise inventory Accounts payable Dividends payable Adjust Year 2 net income of $48,103 for changes in current operating assets and liabilities to arrive at net cash flows from operating activities using the indirect method.