Answered: Soaring Eagles Corp. has total current…

Soaring Eagles Corp. has total current assets of $11,992,000, current liabilities of $5,324,000, and a quick ratio of 0.79. What is its level of inventory?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 15BEA: Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Related questions

Q: 4 POINTS

A: Explanation of Total Concession Revenue:Total concession revenue refers to the total earnings…

Q: Don't use ai given answer accounting questions

A: For this question we must compute for the profit of the business. Profit describes the financial…

Q: Can you help me with accounting questions

A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is a rate…

Q: What is the contribution margin?

A: Explanation of Fixed Costs: Fixed costs in a healthcare system are expenses that remain constant…

Q: How much is the accounts receivable turnover ratio on these financial accounting question?

A: Step 1: Define Accounts Receivable Turnover RatioThe Accounts Receivable Turnover Ratio measures how…

Q: The total Overhead Applied is $175,000 ?

A: Explanation of Overhead Applied:Overhead applied refers to the allocation of indirect manufacturing…

Q: 5 PTS

A: Explanation of Net Sales: Net sales represents the total revenue of Smith Enterprises after…

Q: Question

A: Concept of Income Summary AccountThe Income Summary account is a temporary account used during the…

Q: Ohms Company manufactures plugs at a cost of $41 per unit, which includes $5 of fixed overhead. Ohms…

A: Step 1: Costs if manufactured Total costs = Cost per unit x Number of unitsTotal costs = $41 per…

Q: None

A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the…

Q: Accounting MCQ

A: Explanation of Operating Margin:Operating Margin is a financial ratio that shows the percentage of…

Q: General Account Question

A: Explanation for 1: The cost of goods sold is calculated as = Cost of goods manufactured + Beginning…

Q: Solve this financial accounting Problem

A: To calculate the future value, use the formula for compound interest: FV = PV × (1 + r)^t Where:PV =…

Q: What is the investment turnover for this financial accounting question?

A: The formula for investment turnover is: Investment Turnover = Sales ÷ Invested Assets Given:Sales =…

Q: What is the accounts receivable turnover for skyline corporation?

A: Explanation of Accounts Receivable Turnover Rate:The Accounts Receivable Turnover Rate measures how…

Q: Accounting 24

A: Explanation: The formula for calculating Return on Equity (ROE) using the DuPont equation is as…

Q: Compute the debtor's turnover ratio for sterling enterprise?

A: Explanation of Net Credit Sales: Net credit sales represents the total amount of sales made on…

Q: Please solve this question general accounting

A: Step 1: Definition of Capital GainCapital gain refers to the increase in the value of an asset or…

Q: ????

A: The question pertains to triple bottom line reporting. Triple bottom line reporting adds greater…

Q: Calculate the gross profit ?

A: Explanation of Gross Profit:Gross profit is a key financial metric that represents the difference…

Q: Hello tutor please solve this question

A: To determine the total fixed costs using the high-low method, follow these steps: Step 1: Identify…

Q: Financial Accounting

A: Step 1: Define Current RatioThere are various metrics to understand and judge a company's current…

Q: Tutor Need Your Help

A: Given:Budgeted overhead = 8,600,000Budgeted machine hours = $630,000 Formula:Predetermined overhead…

Q: What is the price earning ratio?

A: 1. Calculate Net Income:Net Income = Sales * Profit MarginNet Income = $823,000 * 0.042Net Income =…

Q: If Rohan Inc., has an equity multiplier of 1.76, total asset turnover of 1.78, and a profit margin…

A: ROE=Profit Margin×Total Asset Turnover×Equity MultiplierGiven:Profit Margin = 9.50% = 0.095Total…

Q: Allowance for Doubtful Accounts has a debit balance of $2,900 at the end of the year, before…

A: Concept of Allowance for Doubtful AccountsThe allowance for doubtful accounts is a contra-asset…

Q: Please question answer general accounting

A: To calculate the annual opportunity cost of a checking account that requires a $500 minimum balance…

Q: Step by step answer

A: Explanation of Net Income:Net income is the amount a company earns after deducting all expenses,…

Q: Need answer the financial accounting question please answer do fast

A: Step 1: Define Perpetual Cash Flow and Interest RateA perpetual cash flow refers to a constant…

Q: Its gross margin ratio? General accounting

A: Step 1: Definition of Gross ProfitGross profit measures the amount of revenue a company retains…

Q: Please solve this question

A: Step 1: Definition of Owners' EquityOwners' equity represents the residual interest in a company's…

Q: Accounting question

A: Step 1: Define Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is a rate used by…

Q: Maston Incorporated has the following data for its operation in August: Increase in direct…

A: The direct materials usage variance measures the difference between the standard quantity of…

Q: Brier Company produces car covers. The company's master budget shows the following standards…

A: Calculating the Standard Cost Per Unit for Brier CompanyBrier Company produces car covers, and we…

Q: General Accounting 5.7

A: Concept of Total RevenueTotal Revenue refers to the total income a business generates from selling…

Q: Lalit Lumber Company has sales of $13 million per year, all on credit terms calling for payment…

A: **Key Concepts:**1. Days Sales Outstanding (DSO)- DSO measures how long it takes a company to…

Q: Don't use ai given answer accounting questions

A: Step 1: Definition of Accounts Receivable Turnover RatioThe accounts receivable turnover ratio…

Q: What is the sustainable rate of growth? General accounting

A: The sustainable growth rate (SGR) formula is:SGR = ROE × (1 - Dividend Payout Ratio)Where ROE…

Q: 6 POINTS

A: Explanation of Concession Sales: Concession sales represent revenue generated from selling food,…

Q: Correct Answer

A: Explanation of Vacation Pay:Vacation pay refers to the cost a company incurs for granting employees…

Q: Right Answer

A: Concept of Average InventoryThe Average Inventory represents the mean value of inventory a company…

Q: Do fast answer of this General accounting questions

A: Step 1: Calculation of Net SalesNet Sales = Sales revenue - Sales returnsNet Sales = $850,000 -…

Q: Subject : Financial Accounting

A: Explanation of Debt-Equity Ratio:The debt-equity ratio measures a company's financial leverage by…

Q: Ans plz general accounting

A: 1. Return of the original investment:$400,000 (initial investment)No calculation needed, as it's the…

Q: Financial Account questions

A: Correct Answer:A. always credits. Explanation:A Direct Material Quantity Variance measures the…

Q: The predetermined overhead rate for RON Company is $10, comprised of a variable overhead rate of $6…

A: Concept of Predetermined Overhead Rate:The predetermined overhead rate is calculated before…

Q: Problem related to Accounting

A: Concept of Operating IncomeOperating income represents the profit a company generates from its core…

Q: What was her capital gains yield?

A: 1. Calculate Capital Gain:Capital Gain = Selling Price - Purchase PriceCapital Gain = $43.89 -…

Q: Accounting questions.

A: Step 1: Definition of Standard CostingStandard Costing is an accounting system where costs of…

Q: Compute the percentage of total return?

A: 1. Calculate Capital Gain:Capital Gain = Ending Share Price - Initial Share PriceCapital Gain = $102…

Question

I need help with this solution and accounting question

Soaring Eagles Corp. has total current
assets of $11,992,000, current liabilities of
$5,324,000, and a quick ratio of 0.79.
What is its level of inventory?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Soaring Eagles Corp. has total current assetsof $11,320,000, current liabilities of $5,204,000 and a quick ratio of 0.84.What is its level of inventory?
What is it's level of inventory on this accounting question?
What is the value of inventory listed on the firm's balance sheet??
Valley Markets has an inventory turnover of 3.2 and a capital intensity ratio of 1.9. What are the days in inventory for Valley Markets?
A firm has Sales of $1,030, Net Income of $207, Net Fixed Assets of $506, and Current Assets of $262. The firm has $82 in Inventory. What is the common-size balance sheet value of Inventory?
Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet sales were $164,000 and net purchases were $81,000.12. What is Corrigan’s rate of inventory turnover?a. 3.2 timesb. 3.9 timesc. 3.5 timesd. 4.0 times
If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of $375,000, what is its grossmargin? What amount of inventory will be shown on its balance sheet?
What is the average inventory on this accounting question?
Wilberton’s has total assets of $537,800, net fixed assets of $412,400, long-term debt of $323,900, and total debt of $388,700. If inventory is $173,900, what is the current ratio? Can the calculator and excel solution be provided?
If a company has sales of $1,300,000 and inventory of $245,000 and net income of $85,000, what is their inventory turnover?
What is the cost of goods sold?
I