Statement showing Computations | |
Particulars | Amount |
Cost of goods sold | 5,200,000.00 |
Average Inventory = (1100,000 + 900,000)/2 | 1,000,000.00 |
Inventory Turnover ratio = 5.2M/1M | 5.20 |
b) | |
Sales | 9,000,000.00 |
Average Inventory = (780,000 + 540,000)/2 | 660,000.00 |
Receivable turnover = 9M/660,000 | 13.64 |
c) | |
Average Collection period = 365/13.64 | 26.77 |
d) | |
Sales | 9,000,000.00 |
Average Assets = (5,060,000+ 4,420,000)/2 | 4,740,000.00 |
Asset Turnover Ratio = 9M/4.74M | 1.90 |
The 2021 income statement of Anderson Medical Supply Company reported net sales of $9 million, cost...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.0 million, and net income of $860,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 Assets Cash $ 540 $ 620 Accounts receivable 940 620 Inventory 1,500 910 Property, plant, and equipment (net) 3,600 3,320 Total assets $6,580 $5,470 Liabilities and shareholders' equity Current liabilities $1,280 $1,070 Bonds payable 1,800...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $5.8 million, and net income of $850,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 500 900 1,400 3,400 $6,200 $ 580 600 1,200 3,120 $5,500 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.5 million, and net income of $885,000. The following table shows the company's comparative balance sheets for 2021 and 2020 ($ in thousands) 2021 2020 $ 640 $ 720 1.0406 70 1.250 1.160 4,100 3,820 $7,030 $6,370 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.7 million, and net income of $845,000. The following table shows the company's comparative balance sheets for 2021 and 2020: The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.7 million, and net income of $845,000. The following table shows the company's comparative balance sheets for 2021 and 2020:...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $5.4 million, and net income of $830,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021 2020 $ 420 820 1,200 3,000 $5,440 $ 500 560 1,000 2,720 $4,780 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $6.6 million, and net income of $890,000. The following table shows the company's comparative balance sheets for 2021 E and 2020: ($ in thousands) 2021 2020 $ 660 1,060 1,300 4,200 $ 7,220 $ 740 680 1,210 3,920 $ 6,550 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable...
The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.2 million, and net income of $870,000. The following table shows the company's comparative balance sheets for 2021 and 2020: (5 in 2021 2020 Assets $ 580 1,600 BBCO $6,960 60 540 1,010 2920 55,830 McCounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained earnings Total liabilities and...
The 2018 income statement of Anderson Medical Supply Company reported net sales of $10 million, cost of goods sold of $5.6 million, and net income of $840,000. The following table shows the company's comparative balance sheets for 2018 and 2017: 0182017 $460 540 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) 860 1,300 1,100 3,2002,920 $5,820 $5,140 Total assets Liabilities and shareholders equity Current liabilities Bonds payable Paid-in capital Retained earnings $1,120 990 1,600 1,600 1,800 1,800 1...
Saved Help HW Save & E Che The 2021 income statement of Anderson Medical Supply Company reported net sales of $8 million, cost of goods sold of $5.1 million, and net income of $815,000. The following table shows the company's comparative balance sheets for 2021 and 2020: (5 in thousands) 2021 2020 $ 360 760 1,050 2,700 $ 4,870 $ 440 530 850 2,420 $ 4,240 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and...
Exercise 4-26 (Algo) Evaluating efficiency of asset management [LO4-10] The 20 21 Income statement of Anderson Medical Supply Company reported net sales of $12 million cost of goods sold of $6.5 million and net income of $885,000. The following table shows the company's comparative balance sheets for 2021 and 2020 ($ in thousands) 2021 2020 $ $ 720 820 640 1.040 1.250 4. 100 1 160 2.0 20 $2.020 $6,070 Assate Cash Accounts receivable Inventory Property, plant, and equipment (net)...