Please give me answer accounting Given the following information about Weber's Online Groceryassuming it wells entirely on credit, what is the total assetturnover?Current Assets$10,555Accounts receivable5,582Cash3,058Inventories1,734Sales36,938Cost of goods sold30,838Total current liabilities 11,609A. 3.49XB. 0.29XC. 2.84XD. 0.82X

Step 1: Define Total asset turnoverTotal asset turnover is given as the sales divided by the total…

Answered: Given the following information about…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...

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Consider the following financial statement information: Item Beginning Year Ending Inventory € 9.780 € 11.380 € 4.108 € 4.938 € 7.636 € 7.927 Accounts Receivable Accounts Payable Credit Sales Cost of Goods Sold € 89.804 € 56.384 Calculate the operating and cash cycles. How do you interpret your answer?
explain the image provided the Accounts receivable turn over, days to collect, Inventory turnover,Days to sell, accounts payable turnover,days to pay and give recommendation
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3. From the partial worksheet shown on the next page, prepare an income statement. You will need to use 4 columns for this Income Statement. Add in some discounts: Discount allowed: $1025.25 Discounts earned: $427.57 Master Security Systems Accounts Bank Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accum. Depreciation - Equipment Automobiles Accum. Depreciation - Automobiles Accounts Payable HST Payable HST Recoverable Bank Loan A. Kiriella, Capital A. Kiriella, Drawings Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Freight-in Advertising Expense Bank Charges Expense Car Expense Delivery Expense General Expense Rent Expense Telephone Expense Utilities Expense Wages Expense Supplies Expense Insurance Expense Worksheet 4 Net Income Depreciation Expense - Automobiles Depreciation Expense - Equipment Income Statement Debit Credit 45957- 4092- 75 316 20 1592- 1585- 2685- 8356- 569521 163225 12000- 111533 3875 25 47256 32 Year…
T. Nix, Capital$ 128,300Cost of goods sold$ 108,900T. Nix, Withdrawals7,000Depreciation expense11,600Sales183,000Salaries expense39,000Sales discounts4,200Miscellaneous expenses5,000Sales returns and allowances5,200 1. Record the entry to close the income statement accounts with credit balances. 2. Record the entry to close the income statement accounts with debit balances. 3. Record the entry to close the Income Summary account. 4. Record the entry to close the Withdrawals account.
Record the journal enteries under the appropiate accounts that are provided. Account # Account Title 100000 Bank Account 110100 Miscellaneous Accounts Receivable 110400 Allowance for Bad Debt 200600 Inventory-Operating Supplies 200900 Inventory-Raw Materials (Direct Post) 200910 Inventory-Finished Goods (Direct Post) 200920 Inventory-Trading Goods (Direct Post) 210000 Prepaid Insurance 212000 Prepaid Advertising 216000 Deposits on Purchases 220110 Land (Direct Post) 220210 Property, Plant & Equipment (Direct Post) 220310 Accumulated Depreciation-PP&E (Direct Post) 300200 Payables-Miscellaneous 300700 Payables-Salaries and Wages 300800 Accrued Expenses 320000 Accrued Tax-Output 329000 Common Stock 330100 Retained Earnings (Direct Posting) 600000 Sales Revenue 610000 Sales Discounts 780000 Cost of Goods Sold January 3GBI received $55,692 in safety product inventory and $37,128 in raw materials from Dallas Bike Basics. This…
Answer the Income Statement, Equity and Make a worksheet of this. thank you
From the following information, find receivable turnover. Sales 375000 (60% credit ) Account receivable 31.12 125000 Current Assets 760000 Cost of sale 120000 Fixed Assets 1440000 Net profit 30000 Inventory 800000 Current Liabilities 600000. Total assets 125000 Account receivable 1.1 25000 Select one: O a. 3 O b. The correct answer not available О с.5 O d. 1.5
Given the following information, answer the questions provided in the space below. Cash Gross accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Total long-term assets (net) Total assets Net credit sales Cost of goods sold Gross profit Net income 2019 $ 14,400 $ $ 106,300 $ $ 98,700 7,200 115,600 $ 108,700 7,000 $ 131,550 $ 140,000 5 363,050 $ 358,700 $ 976,600 $ 902.500 $ 598,000 $ 576,000 $ 378,600 $ 326,500 13,450 17,000 $ $ $ $ 9,800 $ 2018 11,500 5,000 $ Time left 2:15: 1. If target accounts receivable turnover is 30 days, how well is this company managing its accounts receivable in 2019? Be sure to include your calculations. 2. If target inventory turnover is 80 days, how well is this company managing its inventory in 2019? Be sure to include your calculations. 3. All of this company's competitors have a return on assets of 3.2-4,4%. How does this company compare? Are they better or worse?
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please prepare multi-step income statement. thank youu
Ratio of Current Assets $875,000 to Current Liabilities $350,000 2.5:1. The firm wants to maintain Current Ratio of 2:1 by purchasing goods on credit. Compute amount of goods that should be purchased on Credit.

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