The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):
Item/Account |
2018 |
2017 |
Cash |
22,000 |
$24,000 |
Accounts Receivable |
52,000 |
52,000 |
Inventory |
49,000 |
48,000 |
Current Liabilities |
68,000 |
42,000 |
Net Sales (all credit) |
550,000 |
485,000 |
Cost of Goods Sold |
288,000 |
265,000 |
Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)
Current Assets | |||
Cash | $ 22,000 | ||
Account Receivables | $ 52,000 | ||
Inevntory | $ 49,000 | ||
Total | $ 1,23,000 | ||
Current Ratio = Current Assets / Current Liabilities | |||
= $123000/68000 | |||
=1.8 times | |||
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 &...
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash 33,000 $24,000 Accounts Receivable 45,000 52,000 Inventory 44,000 48,000 Current Liabilities 75,000 42,000 Net Sales (all credit) 550,000 485,000 Cost of Goods Sold 288,000 265,000 Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)
Question 15 (5 points) The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash 40,000 $24,000 Accounts Receivable 49,000 52,000 Inventory 43,000 48,000 Current Liabilities 64,000 42,000 Net Sales (all credit) 550,000 485,000 Cost of Goods Sold 288,000 265,000 Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter...
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash $35,000 $24,000 Accounts Receivable 56,000 52,000 Inventory 42,000 46,000 Current Liabilities 76,000 42,000 Net Sales (all credit) 550,000 485,000 Cost of Goods Sold 330,000 265,000 Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal place and enter the...
Question 14 (5 points) The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Item/Account 2018 2017 Cash $35,000 $24,000 Accounts Receivable 56,000 52,000 Inventory 44,000 50,000 76,000 42,000 Current Liabilities 485,000 550,000 Net Sales (all credit) 320,000 265,000 Cost of Goods Sold Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal...
Question 13 (5 points) At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $3,200,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,350,000 of $10 par value common stock and Preferred Stock account of $100,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $103. Use this information to determine the book value per share of Common Stock as of...
The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): 2017 2016 Item/Account $9,800 $9,400 Accounts Receivable Inventory 30,000 16,000 Net Sales (all credit) 85,000 71,000 Cost of Goods Sold 62,000 52,000 7,200 6,900 Net Income Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) 1. the inventory turnover ratio 2. number of days of inventory 3....
The following financial information is for Alpha Corporation for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 30,000 16,000 Net Sales (all credit) 85,000 71,000 Cost of Goods Sold 62,000 52,000 Net Income 7,200 6,900 Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) 1. the inventory turnover ratio 2. number of days of inventory 3. Gross...
The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $30,000 $50,000 Inventory 42,000 38,000 Net Sales (all credit) 440,000 350,000 Cost of Goods Sold 154,000 152,000 Net Income 27,200 24,800 Use this information to determine the accounts receivable average collection period for FY 2019. (Use 365 day year. Round your answers to one decimal place.)
Question'7 The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $36,000 $32,000 Inventor 42,000 38,000 Net Sales (all credit) 390,000 350,000 Cost of Goods Sold 154,000 152,000 Net Income 27.200 24,800 Use this information to determine the accounts receivable average collection period for FY 2019. (Use 365 day vear. Round your answers to one decimal place.) Question S8 Towson Manufacturing had a Work...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 7,950 $ 11,800 Accounts payable $ 40,500 $ 45,800 Accounts receivable 23,550 29,000 Notes payable 14,850 20,800 Inventory 36,750 47,000 Total $ 68,250 $ 87,800 Total $ 55,350 $ 66,600 Long-term debt $ 30,000 $ 24,000 Owners’ equity Common stock and...