General Accounting Income statement data:Sales$6,800Cost of goods sold 6,000Balance sheet data:Inventory$ 670Accounts receivable 290Accounts payable450Calculate the cash conversion cycle for the above firm (Use365 days in a year. Do not round intermediate calculations.Round answers to 1 decimal place.)

Step 1: Define Cash cycleCash cycle refers to the full period of payment of cash to acquire the raw…

Answered: Income statement data: Sales $6,800…

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 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
Can you please give correct answer for this accounting question?
Accounting calculate a. b. c.
Calculate the accounts receivable period?
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.2x Days sales outstanding: 36 days Inventory turnover ratio: 7x Fixed assets turnover: 2.5x Current ratio: 1.5x Gross profit margin on sales: (Sales- Cost of goods sold)/Sales = 20% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash Accounts receivable. Inventories Fixed assets Total assets Sales $300,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold 45,000 90,000
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales MA $240,000 Current liabilities. Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ 60,000 84,000
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 73.0 days² Inventory turnover ratio: 3.75x Fixed assets turnover: 3.0x Current ratio: 2.5x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 35% *Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $ $ $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ $ 90,000 90,000
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Financial Accounting
Do not round intermediate calculation ??
Financial Accounting Question need help

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Income statement data: Sales $6,800 Cost of goods sold 6,000 Balance sheet data: Inventory $ 670 Accounts receivable 290 Accounts payable 450 Calculate the cash conversion cycle for the above firm (Use 365 days in a year. Do not round intermediate calculations. Round answers to 1 decimal place.)