Pinnacle Industries has an inventory turnover of 78 days, an accounts payable turnover of 45 days, and an accounts receivable turnover of 52 days. What is Pinnacle Industries' cash conversion cycle?
Q: A machine costing $400,000 has a salvage value of $40,000 and a useful life of 12 years. They expect…
A: Concept of Cost of Machine:This refers to the total amount paid to acquire the machine, including…
Q: I need help with this general accounting question using the proper accounting approach.
A: Step 1: Definition of Debt to Assets Ratio The debt to assets ratio is a financial ratio that…
Q: I need the correct answer to this financial accounting problem using the standard accounting…
A: Step 1: Definition of PE RatioThe PE (Price-to-Earnings) ratio measures a company's current share…
Q: What Is the amount of the check??
A: Explanation of Sales Returns:Sales returns occur when a buyer sends back goods to the seller,…
Q: ??
A: Step 1: Definition of Direct Method AllocationThe Direct Method of cost allocation assigns support…
Q: Assume there are 365 days in a month year
A: To calculate the level of accounts receivable, use the formula: Accounts Receivable = DSO × Average…
Q: Kono Manufacturing within a relevant production range of 15,000 to 22,000 units.
A: I'll calculate the total amount of period costs incurred to sell 15,000 units for KONO…
Q: Subject:-- financial accounting questions
A: Step 1: Definition of Underapplied or Overapplied Manufacturing OverheadUnderapplied or overapplied…
Q: Please explain the solution to this financial accounting problem with accurate principles.
A: Step 1: Define P/E Ratio (Price-to-Earnings Ratio)The P/E Ratio, or Price-to-Earnings Ratio, is a…
Q: On September 30, 2021, Bricker Enterprises purchased a machine for $216,000. The estimated service…
A: Step 1: Definition of Double-Declining-Balance MethodThe Double-Declining-Balance (DDB) method is an…
Q: Solve this questions answers
A: Step 1: Definition of Days Sales Outstanding (DSO)Days Sales Outstanding (DSO) is a financial metric…
Q: Please explain the solution to this general accounting problem with accurate principles.
A: To calculate the budgeted manufacturing cost per unit, follow these steps: Add the variable costs…
Q: Manufacturing overhead to the cost of goods sold.
A: Provided Data:Beginning Finished Goods Inventory = $72,000Ending Finished Goods Inventory =…
Q: I am looking for the correct answer to this general accounting problem using valid accounting…
A: Step 1: Definition of Cash BalanceCash Balance refers to the amount of money available in a…
Q: I need help with this financial accounting problem using proper accounting guidelines.
A: Step 1: Define Return on Equity (ROE) Return on Equity (ROE) measures a company's profitability by…
Q: Samar Electronics started with 300 printers in inventory. They purchased 500 more and sold 600…
A: Explanation of Inventory: Inventory refers to goods or materials that a business holds for the…
Q: Can you help me solve this financial accounting question using the correct financial procedures?
A: Step 1: Define Profit MarginProfit margin is a financial ratio that shows the percentage of net…
Q: Please explain this financial accounting problem by applying valid financial principles.
A: Concept of Net Sales:Net sales refer to a company's total revenue from goods or services sold during…
Q: Provide correct solution accounting question
A: Step 1: Definition of Projected Benefit Obligation (PBO)The Projected Benefit Obligation (PBO) is…
Q: hi expert please help me
A: Step 1: Definition of Stockholders' Equity ChangeStockholders' equity change refers to the net…
Q: Can you solve this financial accounting problem using appropriate financial principles?
A: Step 1: Define Return on Common Stockholders' Equity (ROE)Return on Common Stockholders' Equity…
Q: I am looking for help with this financial accounting question using proper accounting standards.
A: 1. Identify the High and Low Activity Levels and Costs:High Activity: August - 12,000 units, $72,000…
Q: What amount did phoenix record the investment in vulcan?
A: Step 1: DefinitionsConcept of Business Combination:A business combination is a transaction in which…
Q: give me answer with calculation
A: To calculate the debt-to-equity ratio, use this formula: Debt-to-Equity Ratio = Total Liabilities ÷…
Q: Correct answer please this question
A: Step 1: Definition of Under-applied OverheadUnder-applied overhead occurs when the amount of…
Q: MAX's capital balance at the end of the year?
A: Concept of Assets:Assets are the resources owned by a business that provide future economic…
Q: What was the standard cost per unit of product?
A: Concept of Standard Costing:Standard costing is a system where predetermined costs are assigned to…
Q: I am searching for the accurate solution to this general accounting problem with the right approach.
A: To calculate the predetermined overhead rate, use this formula:Predetermined Overhead Rate =…
Q: A corporation has discovered that an employee has been embezzling funds from the company over the…
A: Explanation Of Embezzlement: Embezzlement is the fraudulent misappropriation of funds, assets, or…
Q: Hi expert please given correct answer with General accounting qestion
A: To calculate the net income of The Artisan Furniture Co., we can follow these steps: Step 1:…
Q: Need help in this question solve.
A: The correct answer to the question:"The kind of debts which are needed to be repaid in a short term…
Q: I need the correct answer to this general accounting problem using the standard accounting approach.
A: To compute the predetermined overhead rate, we use the formula:Predetermined Overhead Rate =…
Q: I am looking for the correct answer to this general accounting question with appropriate…
A: Step 1: Definition of Break-even PointThe break-even point is the level of sales at which total…
Q: Financial Accounting Question
A: To calculate Neptune Supplies' stockholders' equity at year-end, we use the formula: Ending…
Q: accounting question
A: Step 1: Definition of Net Income Net income, also known as net profit or the bottom line, is the…
Q: Please explain the solution to this general accounting problem with accurate principles.
A: Step 1: Definition of Quick RatioThe Quick Ratio, also known as the Acid-Test Ratio, is a financial…
Q: accounting solution?
A: Firm's total value = Free cash flow in year 1 / (WACC-Growth Rate) Firm's total value =…
Q: what is the product cost per cupcake under absorption costing ?
A: Step 1: Definition of Product Cost under Absorption CostingAbsorption Costing, also known as Full…
Q: Compare the cost model vs. revaluation model, including pros, cons, and theoretical implications…
A: 2. Revaluation ModelThe revaluation model allows for the periodic adjustment of an asset's carrying…
Q: Can you solve this financial accounting problem with appropriate steps and explanations?
A: Explanation of Market Value of Equity:Market value of equity, also known as market capitalization,…
Q: Financial accounting
A: To calculate Cost of Goods Sold (COGS), use this formula: COGS = Beginning Inventory + Net Purchases…
Q: General Accounting
A: Step 1: Definition of Manufacturing Cost per UnitThe manufacturing cost per unit is the total cost…
Q: I need guidance with this general accounting problem using the right accounting principles.
A: Step 1: Define EquityEquity, also known as owner's equity or stockholders' equity, represents the…
Q: Financial accounting
A: Step 1: Definition of Operating LeverageOperating leverage measures how a company's operating income…
Q: Determine the total number of budgeted direct labor hours for the year in the Finishing Department.
A: Concept of Factory Overhead:Factory overhead refers to all the indirect costs associated with…
Q: Can you solve this general accounting problem using appropriate accounting principles?
A: Step 1: Definition of EquityEquity represents the residual interest in the assets of a business…
Q: XYZ Corp. had a net income of $1,200 million and sales revenue of $22,500 million in 2022. The…
A: Step 1: a) Asset Turnover Ratio - DefinitionThe Asset Turnover Ratio measures how efficiently a…
Q: i need answer Financial Accounting question
A: Step 1: Define Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) refers to the direct costs…
Q: Please help me solve this general accounting problem with the correct financial process.
A: Problem:Greenwood Industries estimated manufacturing overhead to be $315,600 at the beginning of the…
Q: Kindly help me with this General accounting questions not use chart gpt please fast given solution
A: Step 1: Definition of Manufacturing Margin under Variable CostingThe manufacturing margin under…
Given the solution and accounting question
Step by step
Solved in 2 steps
- Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35 days, and a payables deferral period of 25 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm’s cash conversion cycle? If annual sales are $4,380,000 and all sales are on credit, what is the firm’s investment in accounts receivable? How many times per year does Negus Enterprises turn over its inventory?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 select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?
- Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: 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.Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
- Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
- The following four suggestions have been made to improve the company’s cash position. Evaluate the effect on cash flow for each of the four suggestions. After evaluating each suggestion, enter the projected cash balances in the spaces provided. Consider each suggestion separately. Reset cells to their initial values after each new suggestion. Seek agreement with suppliers to extend the credit period to 30 days. This would mean that all current monthly purchases would be paid for in the following month. Raise the unit price from $28 to $30. A price increase will reduce unit sales by 10% each month. Unit purchases will also be reduced by 10%. Put the company’s two salespeople on straight commission. This would reduce fixed marketing and administrative costs to $1,500 per month and raise variable marketing and administrative costs to $7 per unit. Increase the cash discount from 5% to 10%. It is anticipated that this would increase the percentage of customers paying within the discount period to 85%, and those paying the month after the discount period would drop to 8%. Five percent would pay in the following month and 2% would still be uncollectible. What are your recommendations for Sweet Pleasures, Inc.? Consider potential impact on profits as well as cash balances.The following select financial statement information from Candid Photography. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days sales in receivables ratio is 150 days?Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
