Mentha Company currently has the following statistics:.Days required to sell inventory: 80Days required to collect accounts receivable: 68What is the company's operating cycle?

The operating cycle of a company is the average time required for a business to make an initial…

Answered: Mentha Company currently has the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Blake distributors had a beginning inventory for June of 100,000. They purchased 25,000 in goods during the month. Their income from sales was 200,000 with 10,000 in returns. Their ending inventory was 30,000. Their operating expenses were 50,000. What was the amount of goods available for sale during June? What was the cost of goods sold? What was the net sales? What was the gross profit? Was there an excess or a deficit? What was the net profit or net loss?
A sole proprietorship firm has taxable income of $128,200. Assume this is the sole source of income for the owner. Taxable Tax Rate Income 9,525 10 % %$4 9,526 38,700 12 38,701 82,500 22 82,501 157,500 24 157,500 – 200,000 32 The marginal tax rate is percent
A company reports the following: Cost of merchandise sold $3,120,750Average merchandise inventory 182,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place.
A company reports the following: Cost of merchandise sold $1,861,500 Average merchandise inventory 365,000 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place. a. Inventory turnover b. Number of days' sales in inventory days
A company reports the following: Cost of goods sold $2,263,000 Average inventory 182,500 Determine the (a) inventory turnover, and (b) number of days' sales in inventory. Round your answers to one decimal place. Assume a 365-day year. a. Inventory turnover fill in the blank 1 b. Number of days' sales in inventory fill in the blank 2 days
What is the ratio that measures the number of days on average the company takes to turn its inventory into sales? Days sales outstanding Days inventory outstatnding Days payable outstatnding Days order outstanding
Assume that a company’s Inventory Turnover is 15. What does that mean? It takes about 15 days for inventory to move from the company to its customers. Receivables turn over 15 times per year. Inventories turn over 15 times per year. The average account receivable is collected about 15 days after the credit sale occurs.
On average, your firm sells $32,300 of items on credit each day. The average inventory period is 27 days and your operating cycle is 47 days. What is the average accounts receivable balance? $872,100 $1.292.000 $904,400 $646,000 $1,518,100
Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? a. 24.89 days b. 39.80 days c. 51.92 days d. 62.56 days e. 83.77 days
Arrow Distributing Corp. likes to track inventory by using weeks of supply as well as by inventory turnover. Arrow Distributing Corp. Net Revenue Cost of sales Inventory Total assets a) What is its weeks of supply? weeks (round your response to two decimal places). b) What is Arrow's inventory turnover? times per year (round your response to two decimal places). $16,830 $14,240 $920 $9,270 c) Suppose a manufacturer has an inventory turnover of 13.5 times per year. Arrow's supply chain performance relative to the manufacturer's, as measured by inventory turnover, is
Can you please help me

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Mentha Company currently has the following statistics: . Days required to sell inventory: 80 Days required to collect accounts receivable: 68 What is the company's operating cycle?