The following company information is available: Days sales outstanding 27 Days sales in inventory 19 Days accounts payable outstanding 29 How long is the company's operating cycle? Group of answer choices 56 days 8 days 75 days 46 days
Q: The following data were taken from a company’s latest financial statements: Annual sales $2,433,332…
A: Payables deferral period means number of days in which payment for accounts payable will be made.…
Q: The following company information is available: Average accounts receivable $800,000 Average…
A: The objective of the question is to calculate the company's inventory turnover ratio. The inventory…
Q: A firm’s expected sales as shown in the table below. company’s purchases amount to 70% of the…
A: The purchases for the month of March can be calculated based on the given information that purchases…
Q: Complete the balance sheet and sales information using the following financial data: Total assets…
A: Ratios:There are so many ratios used namely, short-term solvency ratios, long-term solvency ratios,…
Q: Required information [The following information applies to the questions displayed below.] Lansing…
A: Introduction: The direct method is one of two accounting treatments that are used to create a cash…
Q: Complete the balance sheet and sales information using the following financial data: Total assets…
A: Total asset turnover ratio = Turnover / Total Assets Cost of goods sold = [Sales * ( 1…
Q: Mentha Company currently has the following statistics: Days in inventory: 80 • Operating cycle: 148…
A: The operating cycle is a combination of days of inventory and days in account receivable. So the…
Q: The following data were extracted from the income statement of Keever Inc.: Current Year Previous…
A: Average Inventory = ( Opening Inventory + Closing Inventory ) / 2 For Current Year = (…
Q: Selected information regarding a company's most recent quarter follows (all data in thousands).…
A: The cost of goods sold can be calculated by the following formulas. Cost of goods sold = Beginning…
Q: Consider the following data determined from the financial statements of a major retailer: Inventory…
A: As we've given, Days' sales outstanding = 30 days Days' purchase outstanding = 50 days Inventory…
Q: The income statement and selected balance sheet information for Direct Products Company for the year…
A: Purchases = Ending inventory + cost of goods sold - beginning inventory = 830+18000-690 = $18140…
Q: tal assets turnover: 1x ays sales outstanding: 73.0 days ventory turnover ratio: 3.75x xed assets…
A: Financial ratios are calculated to determine the financial position of an entity. It is very…
Q: Window World Company's income statement for the year ending December 31, 2024 included the following…
A: Changes in salaries payable are adjusted with salaries expenses during the year to compute the…
Q: Refer to following financial information from a company. Compute the company's inventory turnover…
A: Inventory turnover ratio is an accounting ratio to evaluate how efficiently the inventory is sold by…
Q: The income statement and selected balance sheet information for Direct Products Company for the year…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: On December 32, Baxter inc has costs of goods sold of 360,000 ending inventory is 17,000 beginning…
A: Purchases = Cost of goods sold + Ending inventory - Beginning inventory = 360,000 + 17,000 - 20,000…
Q: A company has cost of goods sold of $85,000 and ending inventory of $18,000. Its days’ sales in…
A: Given, A company have the cost of goods sold at the rate of $85,000 and the ending inventory having…
Q: company reports the following: Cost of goods sold $4,445,700 Average inventory 255,500 Determine…
A: Lets understand the basics. Inventory turnover ratio is a ratio which indicates how many time…
Q: Consider the following financial statement information for the Newk Corporation: Item Beginning…
A: Inventory=$12435 and $15615Account receivable=$6120 and $6287Cost of good sold=$79218Credit…
Q: Given the following information, calculate the operating cycle. Use average inventory and…
A: Operating cycle = DIO+DSOwhereDIO = days inventory outstandingDSO = days sales outstanding
Q: Refer to the following selected financial information from Texas Electronics. Compute the company’s…
A: The days' sales in inventory is a measure of the average number of days that a company holds its…
Q: Consider the following financial statement information for the Emma Corpo Item Inventory Accounts…
A: Company needs to maintain a proper amount of working capital for that company needs to calculate the…
Q: A company reported the following balances in some selected accounts: Purchases $ 18,000, Cost of…
A: Net Sales = Sales – Sales Discount Net Sales = 35,000 – 1,500 = $33,500
Q: a. Total gross sales b. Total gross purchase c. Interest Income
A: As per our protocol we provide solution to the first three sub-parts only but you have asked…
Q: ABC Corp has an average inventory period (production process time + time before sale) of 36 days.…
A: An operating cycle is the amount of time it takes for a firm from getting the production started to…
Q: Required: Using the preceding data: 1. Complete the schedule of expected cash collections. 2.…
A: Hi studentSince there are multiple subparts, we will answer only first three subparts,Total Cash…
Q: Marian Company reported the following items for the month of July: Sales revenue $470,300 Cost of…
A: Days inventory outstanding is calculated by dividing 365 days by inventory turnover ratio. The…
Q: The following figures appear on LaGrange’s financial statements for the most recent fiscal year:…
A: Lets understand the basics. Days payable outstanding is a also known as age of account payable. It…
Q: Given the following information, complete the balance sheet shown next. days Collection period Days'…
A: Ratio analysis:Ratio analysis, a financial scrutinising lens, reveals the complex links between…
Q: A company has days sales outstanding of 44 days and days inventory outstanding of 36 days whilst…
A: Sales outstanding = 44 Days Inventory outstanding = 36 Days Payable outstanding = 43 Days
Q: Calculate the accounts receivable period, accounts payable period, inventory period, and cash…
A: Cash Conversion Cycle: It represents the time it takes for a business to transform its investments…
Q: Following is the aging schedule for Lure Corporation: Account Age Amount Outstanding Average Days…
A: Given the following information: 0-30 daysAmount outstanding: $75,000Average days: 21 days 31-60…
Q: Complete the balance sheet and sales information using the following financial data: Total assets…
A: Explanation Step 1: Calculate Sales and Cost of Goods Sold (COGS)- Sales were calculated using the…
Q: Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Utley Co. prepares monthly income statements. Inventory is counted only at year end; thus, month-end…
A: Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…
Q: the provided spaces below with two decimal places. Medtronic PLC Consolidated Statement of Income…
A: Consolidated balance sheet refers to the Financial cal document that reflects the assets and…
Q: Presented below is selected information for Bramble Company for the month of March 2022. Cost of…
A: Multi-step income statements are prepared by dividing the income and expenses into different…
Q: he following information summarizes the company's operating activities for the year: Utilities for…
A: Operating income:is the amount of revenue left after deducting the operational direct and indirect…
Q: The following figures appear on LaGrange’s financial statements for the most recent fiscal year:…
A: The phrase accounts payable turnover ratio refers to the liquidity ratio that gauges how quickly a…
Q: Based on the information provided below, what is the company's creditors turnover period? Opening…
A: Creditors turnover period shows the number of days which a company takes to repay its debts or…
| Days sales outstanding | 27 |
| Days sales in inventory | 19 |
| Days accounts payable outstanding | 29 |
How long is the company's operating cycle?
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- A Firm reported year-end cost of goods sold of $10 million. It listed $2 million of inventory on its balance sheet. Using a 365-day year, how many days did the firm's inventory stay on the premise? Multiple Choice _____ 73 days _____ 20 days _____ 18.25 days _____ 2 daysAccounts Debit Credit Cash $24,300 Accounts Receivable 42,500 Allowance for Uncollectible Accounts $2,700 Inventory 42,000 Land 79,600 Accounts Payable 29,200 Notes Payable (8%, due in 3 years) 42,000 Common Stock 68,000 Retained Earnings 46,500 Totals $188,400 $188,400 The $42,000 beginning balance of inventory consists of 420 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions: January 3 Purchase 1,050 units for $115,500 on account ($110 each). January 8 Purchase 1,150 units for $132,250 on account ($115 each). January 12 Purchase 1,250 units for $150,000 on account ($120 each). January 15 Return 160 of the units purchased on January 12 because of defects. January 19 Sell 3,600 units on account for $576,000. The cost of the units sold is determined using a FIFO perpetual inventory system. January 22 Receive $529,000 from customers on accounts receivable. January 24 Pay $359,000 to inventory suppliers on accounts payable. January…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.
- Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The following balances have been excerpted from the company's comparative balance sheets: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 The amount of cash paid by the company to suppliers in 2024 was Select one: $215,800. $212,200. $219,400. $248,290.Window World Company's income statement for the year ending December 31, 2024 included the following items: Interest revenue $65,500 Salaries expense 85,000 Cost of goods sold 217,600 The company's comparative balance sheets included the following: 31-Dec-24 31-Dec-23 Interest receivable $9,100 $7,500 Salaries payable 8,900 4,200 Accounts payable 12,700 10,900 Inventory 36,100 32,500 What amount of cash was received for interest revenue during 2024? Select one: $65,500 $63,900 $67,100 $56,400You are provided with the following data: inventory - to -sale conversion period = 100days Sale - to - cash conversionperiod = 46 days Purchase - to -payment conversion period30 days What is the operatingcycle?
- 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 outstandingAssume 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
- Sheridan Company provides the following information for the month ended October 31, 2022: sales on credit $366,100, cash sales $108,300, sales discounts $5,100, and sales returns and allowances $12,900.Prepare the sales section of the income statement based on this information.97) A company had the following purchases and sales during its first month of operations: Date January 1 January 9 January 17 January 27 A) $84.00. B) $60.71. Activities C) $23.35. D) $46.70. E) $37.36. Purchase Sales Purchase Sales Units Acquired at Cost 10 units @ $4.00 = $40.00 8 units @ $5.50 = $44.00 Units Sold at Retail 6 units @ $12.00 Using the Periodic weighted average method, what is the value of cost of goods sold? (Round weighted average cost per unit to 2 decimal places.) 7 units @ $12.00Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Statement of Income $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses Cost of products sold 9,155 Research and development expense 979 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 83 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 7,734 Other nonoperating income, net (157) Interest expense 1,444 Income before income taxes 6,447 Income tax provision 547 Net income 5,900 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $5,881…
