Homework Answers
| Ans. | Credit Card Receivable Turnover = | Net credit card sales/Average credit card receivable | |
| = | $76,000/($6,000+$7,000)/2 | ||
| = | $76,000/$6,500 | ||
| = | 11.69 times |
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2015 2014 2015 Awets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable...
Question 3 2015 2014 2015 Assets Current Assets Not yet answered $45,000 Points out of 10.00...
Question 3 2015 2014 2015 Assets Current Assets Not yet answered $45,000 Points out of 10.00 Flag question Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Revenues Sales Cash Sales A/R Sales Credit Card Sales Toual Sales Cost of Sales Gross Profit $21,000 $76,000 $142,000 $38.340 $103,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
Question 9 2015 2014 | Revenues 2015 Not yet answered Points out of 10.00 Flag question...
Question 9 2015 2014 | Revenues 2015 Not yet answered Points out of 10.00 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales AVR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $45,000 $21,000 $76.000 $142,000 $28.340 $103,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales A/R Sales Credit Card Sales Total Sales Cost of Sales Gross Proli $145,000 $51.000 $76,000 $272,000 $73,440 5198,560 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses $27,200 $24.480 $51,680...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $76,000 $142.000 $22,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36.000 $139,500 Cash Sales NR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $34,340 $102,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets Provincial...
Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets Provincial Imports, Inc., Balance Sheet December 31, 2015 Liabilities and stockholders' equity $ 200,000 Accounts payable 225,000 Taxes payable 625.000 Notes payable 500,000 Other current liabilities $1,550,000 Total current liabilities 1,400,000 Long-term debt $2.950,000 Total liabilities Common stock Retained earnings Total liabilities and equity $ 700,000 95,000 200,000 5,000 $1,000,000 500,000 $1,500,000 75,000 1.375,000 $2.950.000 (1) Projected sales are $6,000,000. (2) Cost of goods sold...
Balance Sheet ASSETS: Cash and Marketable Securities: $75.00 Accounts Receivable: $100.00 Inventories: $200.00 TOTAL CURRENT ASSETS:...
Balance Sheet ASSETS: Cash and Marketable Securities: $75.00 Accounts Receivable: $100.00 Inventories: $200.00 TOTAL CURRENT ASSETS: $375.00 Gross Property, Plant and Equipment: (blank) less Accumulated Depreciation: $50.00 NET FIXED ASSETS: (blank) TOTAL ASSETS: (blank) LIABILITIES AND EQUITY: Accounts Payable: $75.00 Notes Payable: (blank) Accruals: $75.00 TOTAL CURRENT LIABILITIES: $300.00 Long Term Debt: $350.00 TOTAL LIABILITIES: $650.00 PREFERRED STOCK: (blank) Common Stock: $50.00 Accumulated Retained Earnings: $125.00 COMMON EQUITY: $175.00 TOTAL LIABILITIES AND EQUITY: $875.00 1. Consider the balance sheet above:...
Intro Use the following information to answer the questions: Assets Cash Marketable securities Accounts receivable Inventory...
Intro Use the following information to answer the questions: Assets Cash Marketable securities Accounts receivable Inventory Current assets Machines Real estate Fixed assets Total assets 9,000 2,000 6,000 24,000 41,000 34,000 80,000 114,000 155,000 Liabilities and Equity Accounts payable 17,000 Notes payable 6,000 Current liabilities 23,000 Long-term debt 95,000 Total liabilities 118,000 Paid-in capital 20,000 Retained earnings 17,000 Equity 37,000 Total liab. & equity 155,000 - Attempt 1/10 for 10 pts. Part 1 What is the current ratio? 2+ decimals...
Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets...
Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,150 8,260 13,400 11,500 171,500 (12, eee) $207,810 $ 8,720 3,400 4,200 21,180 114, 30e 56,010 $207,810 A OCA-FARM Required Compute each of the following: (Round your per share a. Current ratio b. Earnings per share o. Quick (acid-test) ratio d....
At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable,...
At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise Inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 131,100 104,750 79,250...
CONSOLIDATED BALANCE SHEETS FOR TEST CORPORATION Oct 31, 2015 Oct 31, 2014 ASSETS Current Assets Cash...
CONSOLIDATED BALANCE SHEETS FOR TEST CORPORATION Oct 31, 2015 Oct 31, 2014 ASSETS Current Assets Cash and Cash Equivalents Accounts Receivables Inventory Total Current Assets 700 150 200 100 700 1000 250 1100 600 600 Property, Plant, and Equipment Property, Plant and Equipment*** Less Cumulative Depreciation Total Property, Plant, and Equipment 200 250 350 400 Total Assets 1,450 1,400 LIABILITIES Current Liabilities Accounts Payable Other Current Liabilities Total Current Liabilities 100 200 100 200 300 500 Long-term Liabilities Loan Total...
Question 3 2015 2014 2015 Assets Current Assets Not yet answered $45,000 Points out of 10.00 Flag question Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Revenues Sales Cash Sales A/R Sales Credit Card Sales Toual Sales Cost of Sales Gross Profit $21,000 $76,000 $142,000 $38.340 $103,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
Question 9 2015 2014 | Revenues 2015 Not yet answered Points out of 10.00 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales AVR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $45,000 $21,000 $76.000 $142,000 $28.340 $103,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales A/R Sales Credit Card Sales Total Sales Cost of Sales Gross Proli $145,000 $51.000 $76,000 $272,000 $73,440 5198,560 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses $27,200 $24.480 $51,680...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $76,000 $142.000 $22,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36.000 $139,500 Cash Sales NR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $34,340 $102,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
Assets Cash Marketable securities Accounts receivable Inventories Total current assets Net fixed assets Total assets Provincial Imports, Inc., Balance Sheet December 31, 2015 Liabilities and stockholders' equity $ 200,000 Accounts payable 225,000 Taxes payable 625.000 Notes payable 500,000 Other current liabilities $1,550,000 Total current liabilities 1,400,000 Long-term debt $2.950,000 Total liabilities Common stock Retained earnings Total liabilities and equity $ 700,000 95,000 200,000 5,000 $1,000,000 500,000 $1,500,000 75,000 1.375,000 $2.950.000 (1) Projected sales are $6,000,000. (2) Cost of goods sold...
Intro Use the following information to answer the questions: Assets Cash Marketable securities Accounts receivable Inventory Current assets Machines Real estate Fixed assets Total assets 9,000 2,000 6,000 24,000 41,000 34,000 80,000 114,000 155,000 Liabilities and Equity Accounts payable 17,000 Notes payable 6,000 Current liabilities 23,000 Long-term debt 95,000 Total liabilities 118,000 Paid-in capital 20,000 Retained earnings 17,000 Equity 37,000 Total liab. & equity 155,000 - Attempt 1/10 for 10 pts. Part 1 What is the current ratio? 2+ decimals...
Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,150 8,260 13,400 11,500 171,500 (12, eee) $207,810 $ 8,720 3,400 4,200 21,180 114, 30e 56,010 $207,810 A OCA-FARM Required Compute each of the following: (Round your per share a. Current ratio b. Earnings per share o. Quick (acid-test) ratio d....
CONSOLIDATED BALANCE SHEETS FOR TEST CORPORATION Oct 31, 2015 Oct 31, 2014 ASSETS Current Assets Cash and Cash Equivalents Accounts Receivables Inventory Total Current Assets 700 150 200 100 700 1000 250 1100 600 600 Property, Plant, and Equipment Property, Plant and Equipment*** Less Cumulative Depreciation Total Property, Plant, and Equipment 200 250 350 400 Total Assets 1,450 1,400 LIABILITIES Current Liabilities Accounts Payable Other Current Liabilities Total Current Liabilities 100 200 100 200 300 500 Long-term Liabilities Loan Total...
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