Silver stream Technologies provided the following financial data: Item Amount Average Inventory $50,000 Average Accounts Receivable $60,000 Average Accounts Payable $30,000 Sales $360,000 Cost of Goods Sold (COGS) $240,000 Calculate Operating Cycle
Q: Could you explain the steps for solving this financial accounting question accurately?
A: Concept of Retained Earnings:Retained earnings represent the portion of a company's net income that…
Q: The increase in the company's plan assets during the year is
A: Explanation of Company Contributions:Company contributions refer to the payments made by an employer…
Q: Calculate the sales volume variance
A: Explanation of Sales Volume Variance (Marginal Costing):Sales volume variance under marginal costing…
Q: Please provide the accurate answer to this general accounting problem using appropriate methods.
A: Step 1: Definition of Price-Earnings (P/E) RatioThe Price-Earnings (P/E) Ratio is a measure of the…
Q: What is the number of days' sales in receivables?
A: Explanation of Accounts Receivable Turnover: Accounts receivable turnover is a financial ratio that…
Q: Need help with this accounting question
A: Q1:Total cost = $100,000 (cash) + $5,000 (legal fees) = $105,000 Q2:Total assets = $200,000 +…
Q: I want to this question answer for General accounting question not need ai solution
A: Step 1: Detailed Explanation of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents…
Q: At Boston Industries, as of September 30, the company has net sales of $750,000 and a cost of goods…
A: Explanation of Gross Profit Rate:The gross profit rate is a percentage that shows the portion of…
Q: What is the amount of current assets, assuming the accounts above reflect normal activity ?
A: Provided Data (relevant to current assets):Cash = $28,400Accounts Receivable = $30,500Supplies =…
Q: Tesla Car Service started the year with total assets of $320,000 and total liabilities of $210,000.…
A: Explanation of Net Income: Net income represents the financial profit a business generates during a…
Q: Compute the number of days sales in account receivable
A: Explanation of Average Accounts Receivable:Average accounts receivable is the mean value of accounts…
Q: I need help with this general accounting question using the proper accounting approach.
A: Step 1: Definition of Total Asset TurnoverTotal Asset Turnover is a financial efficiency ratio that…
Q: Can you explain the correct methodology to solve this general accounting problem?
A: Step 1: Detailed explanation of Labor Rate VarianceThe labor rate variance measures the difference…
Q: What is the company CM ratio?
A: Let us break down these calculations step-by-step using the provided financial data for Belmont…
Q: explain properly all the answer for General accounting question Please given fast
A: Step 1: Detailed Explanation of Price-Sales RatioPrice-Sales (P/S) Ratio is a valuation metric that…
Q: Hello tutor please provide correct answer general accounting question with correct solution do fast
A: To calculate ending inventory under variable costing, we only include variable production costs…
Q: Please given correct answer for General accounting question I need step by step explanation
A: Step 1: Detailed Explanation of Depreciation and Straight-Line MethodDepreciation is the process of…
Q: None
A: B) P/E Ratio (Price-to-Earnings Ratio)Assuming the earnings are equal to the cash flow (as often…
Q: What is the amount of net sales from the transactions?
A: Concept of Net Sales:Net sales refer to the revenue a company earns from sales after deducting…
Q: The total variable cost per unit is?
A: Explanation of Variable Cost: Variable cost refers to expenses that change in proportion to…
Q: What is the cost of unused capacity ?
A: Provided Data:Cost of material supplied = $5,600Cost of material used = $5,000Cost of material used…
Q: The inventory cost for each notebook related to the fixed production overhead is closest to?
A: Concept of Fixed Production Overhead:Fixed production overhead refers to manufacturing costs that do…
Q: What are adjusting journal entries and why are they necessary? Meed
A: Adjusting Journal Entries: Definition and NecessityAdjusting journal entries (AJEs) are critical…
Q: Kindly help me with this General accounting questions not use chart gpt please fast given solution
A: Step 1: Detailed Explanation of Tax LiabilityTax liability refers to the total amount of tax a…
Q: Hello tutor please provide correct answer general accounting question with correct solution do fast
A: Step 1: Detailed Explanation of FICA TaxesFICA (Federal Insurance Contributions Act) taxes are…
Q: I need guidance with this general accounting problem using the right accounting principles.
A: Provided Data:Direct materials = $1.80Direct labor = $0.90Variable overhead = $2.30Variable selling…
Q: Please explain the correct approach for solving this accounting question.
A: Q1.Overhead rate for Department X = Overhead cost for Department X / Labor hours consumed by…
Q: I need help with this financial accounting question using the proper financial approach.
A: Step 1: Detailed Explanation of Gross Profit Gross profit is a key financial metric that represents…
Q: I am trying to find the accurate solution to this general accounting problem with the correct…
A: Step 1: Detailed Explanation of Full CostThe full cost approach includes all costs associated with…
Q: I am looking for a step-by-step explanation of this financial accounting problem with correct…
A: Meaning of Net Income Percentage (Net Profit Margin):The net income percentage, also known as net…
Q: Can you help me solve this general accounting problem using the correct accounting process?
A: Step 1: Detailed Explanation of Labor Variance CalculationLabor variances consist of two components:…
Q: No Ai What is a trial balance and what is its purpose?
A: A trial balance is an accounting report that lists all the balances of a company's general ledger…
Q: Please explain the solution to this general accounting problem with accurate principles.
A: Step 1: Detailed Explanation of Cost of Equity and Relevant FormulasCost of Equity: The cost of…
Q: Superior Manufacturing uses a predetermined overhead rate based on direct labor hours to allocate…
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a standard rate used…
Q: Please provide the correct answer to this accounting problem using accurate calculations.
A: Q2: Net Sales CalculationNet Sales = Sales - Sales Returns and Allowances= $90,000 - $1,500=…
Q: Accounting standard diferences
A:
Q: Lawrence Industries plans to produce 30,000 units next period at a denominator activity of 45,000…
A: Explanation of Predetermined Overhead Rate: The predetermined overhead rate is a calculated cost…
Q: Please provide the answer to this general accounting question using the right approach.
A: Step 1: Detailed Explanation of Absorption Costing Unit Product CostAbsorption costing is a method…
Q: Thompson & Sons values its goodwill at four years' purchase of the last five years' average…
A: Explanation of Average Profit:Average profit is calculated by summing the net profits of several…
Q: Trent Manufacturing Company produces and sells 95,000 units of a single product. Variable costs…
A: Provided Data:Units sold = 95,000 unitsTotal variable costs = $285,000Total fixed costs =…
Q: I need help with this problem and accounting question
A: Step 1: Detailed Explanation of Labour Rate VarianceLabour rate variance represents the difference…
Q: Compute the missing amount in the following table
A: Concept of AssetsAssets are resources owned by a business that provide future economic benefits.…
Q: I need help with this general accounting problem using proper accounting guidelines.
A: Step 1: Detailed explanation of Cost of Merchandise Sold (COMS)The cost of merchandise sold (COMS)…
Q: Please provide correct solution and accounting
A: Step 1: Detailed Explanation of Direct Labour Rate VarianceThe direct labour rate variance measures…
Q: Financial accounting
A: Step 1: Detailed Explanation of Future Value (FV)Future Value (FV) represents the value of a sum of…
Q: Job B: 4089
A: Compute the direct labor cost.Direct labor cost = Direct labor hours x direct labor rateDirect labor…
Q: Orville Manufacturing Company's work-in-process inventory on August 1 has a balance of $32,400,…
A: To determine whether manufacturing overhead is overallocated or underallocated for the month of…
Q: Don't use ai otherwise u will get unhelpful rate
A: Question: 1 Answer Step 1: Definition of Net Income Net income represents the company's profit after…
Q: Please provide the correct answer to this general accounting problem using valid calculations.
A: Step 1: Detailed explanation of trade-in transactionsIn trade-in transactions involving commercial…
Q: Solve my problem with accounting
A: Step 1: Detailed explanation of Gain or Loss on Disposal of an AssetWhen an asset is disposed of, a…
I am trying to find the accurate solution to this general accounting problem with the correct explanation.
Step by step
Solved in 2 steps
- Calculate the operating cycle of this financial accounting questionWhat is the operating cycleGiven the following information, calculate the operating cycle. Use average inventory and receivables in your calculations. Credit sales = = $1,000,000 Cost of goods sold = $750,000 Beginning balances: Inventory = $300,000 Accounts Receivable = $280,000 Ending balances: Inventory = $280,000 Accounts Receivable = $250,000 Multiple Choice 141 days 116 days 261 days 97 days 238 days
- What is the operating cycle?HirenCalculate the accounts receivable period, accounts payable period, inventory period, and cash conversion cycle for the following firm: Income statement data: Sales 5,000 Cost of goods sold 4,200 Balance Sheet Data: Beginning of Year End of Year Inventory 500 600 Accounts Receivable 100 120 Accounts Payable 250 290
- Calculating the CCC from the Financial Statement The following data are taken from the financial statement: Annual Sales ( on Credit ) 1,216,666 Cost of Goods Sold 1,013,889 Average Inventory 250,000 Average Accounts Receivable 300,000 Average Accounts Payable 150,000 COMPUTE FOR THE FOLLOWING and interpret your answer: 1. DIO stands for Days Inventory Outstanding 89.99999014 DIO= (Ave. Inventory/Cost of Goods Sold)*365 =(250,000/1,013,889)*365 =89.99 or 90 days It takes the company approximately 90 days to turn inventory into sales 2. DSO stands for Days Sales Outstanding 90.00004932 DSO=(Ave. Accts. Receivables/Total Credit Sales)*365 =(300,000/1,216,666)*365 =90 days #NAME? 3. DPO stands for Days Payable Outstanding 53.99999408 DPO=(Ave. Accts. Payables/Cost of Goods Sold)*365 =(150,000/1,013,889)*365 =53.99 or 54 days It takes the company approximately 54 days to pay its invoices 4.CASH CONVERSION CYCLE 126.0000454 CCC= DIO + DSO - DPO = 90+90-54 = 126 It takes the company…Consider the following financial statement information for the Newk Corporation: Beginning $10,382 Ending $ 11,180 6,181 6,293 Item Inventory Accounts receivable Accounts payable Net sales. Cost of goods sold 5,651 5,952 Operating cycle Cash cycle $ 139,303 87,113 Assume all sales are on credit. Calculate the operating and cash cycles. Note: Do not round intermediate calculations and round your answers to 2 decimal pla 2.19 days daysConor Company provided the following data for the current year: Sales P 10,000,000 Cost of goods sold 5,300,000 Operating expenses 3,800,000 December 31 January 1 Prepaid operating expenses P 1,000,000 P 700,000 Accounts payable 1,350,000 1,200,000 Inventory 2,500,000 2,100,000 Accounts receivable 1,400,000 1,375,000 What amount should be reported as purchases under the cash basis of accounting?