Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,490,000. Assets were as follows:CashAccounts receivableInventoryNet plant and equipmentTotal assetsa. Compute the following:Note: Round your answers to 2 decimal places.1. Accounts receivable turnover2. Inventory turnover3. Fixed asset turnover4. Total asset turnoverCashAccounts receivableInventory$ 110,000864,000493,000504,000$ 1,971,000b. In 20X2, sales increased to $5,040,000 and the assets for that year were as follows:Net plant and equipmentTotal assetsTurnover Ratios5.00 times1,245.00 times76.00 times43.00 times1. Accounts receivable turnover2. Inventory turnover3. Fixed asset turnover4. Total asset turnover$ 110,000981,0001,007,000504,000$ 2,602,000Compute the following:Note: Round your answers to 2 decimal places.Turnover Ratios234.00 times789.00 times41.00 times32.00 times

Name: Jim Short's Company makes clothing for schools. Sales in 20X1 were $4
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Description: Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,490,000. Assets were as follows:CashAccounts receivableInventoryNet plant and equipmentTotal assetsa. Compute the following:Note: Round your answers to 2 decimal places.1. Account

Select financials have been provided. Several ratios have to be calculated for two years, based on…

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Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,490,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover a. Compute the following: Note: Round your answers to 2 decimal places. $ 110,000 864,000 Cash Accounts receivable Inventory Net plant and equipment Total assets 493,000 504,000 $ 1,971,000 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover Turnover Ratios 5.00 times 1,245.00 times b. In 20X2, sales increased to $5,040,000 and the assets for that year were as follows: 76.00 times 43.00 times $ 110,000 981,000 1,007,000 504,000 $ 2,602,000 Compute the following: Note: Round your answers to 2 decimal places. Turnover Ratios 234.00 times 789.00 times 41.00 times 32.00 times

Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,490,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover a. Compute the following: Note: Round your answers to 2 decimal places. $ 110,000 864,000 Cash Accounts receivable Inventory Net plant and equipment Total assets 493,000 504,000 $ 1,971,000 1. Accounts receivable turnover 2. Inventory turnover 3. Fixed asset turnover 4. Total asset turnover Turnover Ratios 5.00 times 1,245.00 times b. In 20X2, sales increased to $5,040,000 and the assets for that year were as follows: 76.00 times 43.00 times $ 110,000 981,000 1,007,000 504,000 $ 2,602,000 Compute the following: Note: Round your answers to 2 decimal places. Turnover Ratios 234.00 times 789.00 times 41.00 times 32.00 times

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

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what is income statement? cash $14,785.00 A/R $100.00 Packing and office supplies $370.00 inventory $6,350.00 office forniture and equipment $1,100.00 AD:office furn and equipment $31.00 A/P $1,850.00 interest payable $133.00 unearned revenue $350.00 bank loan $5,000.00 equity $11,089.00 drawings $15.00 shoe sales revenue $7,180.00 sales returns $120.00 cost of sales $500.00 online store expenses $650.00 shipping costs $1,199.00 interest expense $133.00 inventory shrink $150.00 depreciation expense $31.00 supplies expense $130.00 25,633 25,633
Use the following data to answer Questions 13 through 19. (Answers may be rounded off.) Alpha Company Sales 6000 Cost of goods sold 3500 Average Inventories 620 Accounts receivable Working capital. 740 Cash 450 200 Accounts payable 550 Fixed assets 4680 Total assets 5900 Annual purchases 2300 19. Alpha's cash conversion cycle is a. 35 days b. 107 days. c. 46 days d. 16 days. I I
Prime entries.
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? $
The accounts payable balance at the beginning of the year was $98,000. The company purchased $445,000 worth of goods on account, and the ending balance of the payables account was $135,000. What were the total payments on account? Multiple Choice $548,000 $463,000 $408.000 $478.000
The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending balance figures and that all sales were on credit. Use this information to answer the question that follow. Assets Cash and short-term investments $30,000 Accounts receivable (net) 20,000 Merchandise inventory 15,000 Property, plant, and equipment 185,000 Total assets $250,000 Liabilities and Stockholders' Equity Current liabilities $45,000 Long-term liabilities 70,000 Stockholders' equity—common 135,000 Total liabilities and stockholders' equity $250,000 Income Statement Sales $ 85,000 Cost of merchandise sold 45,000 Gross profit $ 40,000 Operating expenses (15,000) Interest expense (5,000) Net income $ 20,000 Number of shares of common stock outstanding 6,000 Market price per share of common stock $20 Total dividends paid $9,000 Net cash flows from operating activities $30,000…
The following selected account balances appeared on the financial statements of the Washington Company. Use these balances to answer the questions that follow. Accounts receivable, Jan. 1 $13,000 Accounts receivable, Dec. 31 9,000 Accounts payable, Jan. 1 4,000 Accounts payable, Dec. 31 7,000 Inventory, Jan. 1 10,000 Inventory, Dec. 31 15,000 Sales 56,000 Cost of goods sold 31,000 The Washington Company uses the direct method to calculate net cash flow from operating activities. Assume that all accounts payable are owed to merchandise suppliers. Cash collections from customers were Oa. $45,000 Ob. $56.000 Oc. $52,000 Od. $60,000
Financial information is presented below: Operating Expenses $ 92, 800 Sales Returns and Allowances 18,000 Sales Discounts 12,000 Sales Revenue 350,000 Cost of Goods Sold 176,000 The amount of net sales on the income statement would be Select one: a. $ 338,000. b. $332,000. c. $350,000. d. $320,000.
The following items were among those that appeared on Rubi Co.’s books at the end of year 1: Merchandise inventory P600,000; Loans to employees 20,000. What amount should Rubi classify as monetary assets in preparing constant peso financial statements? P0 P 20,000 P600,000 P620,000
Based on this information can you create an Income Statment Accounts Receivable $1,200 Accounts Payable $20,200 Advertising Expense $750 Cash $28,600 Cost of Goods Sold $8,800 Drawings by Owner $1,625 Equipment $5,150 Interest Expense $300 Interest Payable $300 Inventory $3,900 Investments by Owner $10,000 Rent Expense $3,600 Sales Returns $600 Sales Revenue $11,900 Service Revenue $20,750 Supplies $600 Supplies Expense $2,025 Utilities Expense $600 Wages Expense $5,400
Urban Inc. has Cash, $5,000; Accounts Receivable, $14,000; Supplies, $700; Equipment, $20,000; and Inventory in transit from the supplier (FOB Destination Point), $800. What are their total current assets? $19,700 $39,700 $20,500 $40,500

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