Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 73.0 days* Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% "Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ 90,000 90,000

Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.1x Days sales outstanding: 73.0 days* Inventory turnover ratio: 4x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20% "Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answers to the nearest dollar. Balance Sheet Cash Accounts receivable Inventories Fixed assets Total assets Sales $360,000 Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity Cost of goods sold $ $ 90,000 90,000

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

Problem Solving. Raymar Alison Trading has the following transactions during the fiscal year 2021. Cash sales 100,0000. Credit Sales 200,000. Total Sales 300,000. Cost of Goods Sold 150,000. Gross Margin 150,000. Beg. Accounts Receivable 25,000. End. Accounts Receivable 15,000. Beg. Inventory 35,000. End. Inventory 25,000. Total Expenses 50,000. 29. What is Days Inventory Outstanding? (360 days) 18 24 36 72
You are given the following information: STARTING Inventory $10,576 $5,129 $7,991 A/R A/P Credit Sales COGS $92,136 $60,777 ENDING $10,336 ? $7,395 If you are told that the cash cycle for this firm is 37.520 days, what is the value of the ending accounts receivable for the period? Assume that the company operates 365 days per year. Enter your answer to the nearest dollar. Do not include any commas or dollar signs.
Supply the missing components of the Statement of Financial Position and Sales information using the following financial data:Debt ratio: 50%Current ratio: 1.8×Total assets turnover: 1.5×Days sales outstanding: 36.5 days*Gross profit margin on sales: (Sales − Cost of goods sold)/Sales = 25%Inventory turnover ratio: 5×*Calculation is based on a 365-day year.Statement of Financial Position(in Thousands)Cash ________Accounts payable_________Accounts receivable ________Long-term debt PhP120,000Inventories ________Common stock_________Fixed assets ________Retained earnings 195,000Total assets PhP600,000Total liabilities and equity _________Sales _______Cost of goods sold _________
Use information attached 1-3 and 1-5 to answer the following For the years ended December 31, 2006 and 2005, assume all sales are on credit and then compute the following: (a) collection period, (b) accounts receivable turnover, (c) inventory turnover, and (d ) days’ sales in inventory. Comment on the changes in the ratios from 2005 to 2006.
A-6
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.6 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 35% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ 640,000 448,000 Balance Sheet Assets Cash Accounts payable Liabilities and Equity $ 90,000 Accounts receivable 64,000 Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $
Consider the following financial statement information for the Newk Corporation: Item Inventory Accounts receivable Accounts payable Net sales Cost of goods sold Beginning $ 11,400 6,400 8,600 Operating cycle Cash cycle $ 94,000 74,000 days days Ending $ 12,400 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 6,700 9,000
Help me
Cash and accounts receivable for Adams Company are provided below: Prior Year Current Year Cash $50,799 Accounts receivable (net) 26,163 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash Accounts Receivable $41,300 45,900
Can you please help me
Use the information below to compute the number of days in the cash conversion cycle for Apple ($ millions). Round calculations to the nearest whole day. Accounts payable, end of year $49,049 Inventory, end of year . $ 4,855 Accounts receivable, net, end of year 17,874 Net sales 229,234 Cost of goods sold . 141,048
Using the information in appendix 1 only, comment on the financial performance of thebusiness (briefly consider growth, profitability and credit management)