Homework Answers
1.Add comments to cell to give more information is not a best practice for financial input models
2. Complex financial models are all of the following execpt they are easy to follow and audit
3.Forecast COGS for 2019=29,160
=[COGS for 2018/(100-Gross Profit Margin 2018)](1+Sale growth rate for 2018)(100-GP Margin 2019)
=[27000/(100%-40%)](1+0.08)(100%-40%)
=(45000)(1.08)(60%)
=29,160
4.Forecast account receivable for Company XYZ =39,705
=Forecasted revenue ×(receivable days assumption/365)
=263500×(55/365)
=39,705
5.(inventory days/365)×cost of sales formula can be used to forecast inventory
Protect inputs by locking input cells
They are easy to follow and audit
32,400
39,705
(Inventory days / 365) x Cost of sales
Depreciation
Changes in operating assets and liabilities490
1,990
Trace Precedents
48
-200
4900
8100
2400
12800
Add Answer to:
Which of the following is NOT a best practice for financial model inputs? Add comments to...
The following information was available for the year ended December 31, 2019 Net sales Cost of...
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 &...
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.)
The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 &...
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 $50,000 $32,000 Inventory 42,000 38,000 Net Sales (all credit) 490,000 350,000 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.)
[The following information applies to the questions displayed below.] Summary information from the financial statements of...
[The following information applies to the questions
displayed below.]
Summary information from the financial statements of two companies
competing in the same industry follows.
Barco
Company
Kyan
Company
Barco
Company
Kyan
Company
Data from the current year-end balance
sheets
Data from the current year’s income
statement
Assets
Sales
$
770,000
$
880,200
Cash
$
19,500
$
34,000
Cost of goods sold
585,100
632,500
Accounts receivable, net
46,500
64,600
Interest expense
7,900
13,000
Merchandise inventory
84,440
132,500
Income tax expense...
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following financial data: Total...
BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.2x
Days sales outstanding: 42 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 2.5x
Current ratio: 1.8x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
20%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following...
please complete the entire question, try and use the same format if possible Cheche The following...
please complete the entire question, try and use the same format if
possible
Cheche The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,022,000 642,400 43,000 22,400 210.000 156409 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory...
PROJECT: Select any bank / firm of your choice. Take out its financial statements. Calculate the...
PROJECT:
Select any bank / firm of your choice. Take out its financial
statements.
Calculate the following ratios according to the information
found in these statements.
(NOTE: Show your workings)
1. Operating Cycle. Inventory Number of days of inventory - Average day's cost of goods sold Inventory cost of goods sold / 305 Number of days of receivables = Accounts receivable Average day's sales on credit Accounts receivable Sales on credit / 365 Number of days of payables - Accounts...
PROJECT: Select any bank / firm of your choice. Take out its financial statements. Calculate the...
PROJECT:
Select any bank / firm of your choice. Take out its financial
statements.
Calculate the following ratios according to the information
found in these statements.
(NOTE: Show your workings)
1. Operating Cycle. Inventory Number of days of inventory - Average day's cost of goods sold Inventory cost of goods sold / 305 Number of days of receivables = Accounts receivable Average day's sales on credit Accounts receivable Sales on credit / 365 Number of days of payables - Accounts...
Consider the following financial statement information for the Schwertzec Corporation: Item Beginning Ending Inventory $ 11,700...
Consider the following financial statement information for the Schwertzec Corporation: Item Beginning Ending Inventory $ 11,700 $ 12,700 Accounts receivable 6,700 7,000 Accounts payable 8,900 9,300 Credit sales $ 97,000 Cost of goods sold 77,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) Operating cycle days Cash cycle days
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 5x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales-30% Calculation is based on a 365-day year Do not round intermediate calculations. Round your answers to the nearest dollar Balance Sheet Cash Current liabilities $ Accounts receivable Long-term debt 45,000 Inventories Common stock Fixed assets Retained earnings...
The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average Inventory for the year Inventory at year-end $839.500 605,900 39,500 29.900 170,000 157,700 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories (Use 365 days a year. Round your answer to...
[The following information applies to the questions
displayed below.]
Summary information from the financial statements of two companies
competing in the same industry follows.
Barco
Company
Kyan
Company
Barco
Company
Kyan
Company
Data from the current year-end balance
sheets
Data from the current year’s income
statement
Assets
Sales
$
770,000
$
880,200
Cash
$
19,500
$
34,000
Cost of goods sold
585,100
632,500
Accounts receivable, net
46,500
64,600
Interest expense
7,900
13,000
Merchandise inventory
84,440
132,500
Income tax expense...
BALANCE SHEET ANALYSIS
Complete the balance sheet and sales information using the
following financial data:
Total assets turnover: 1.2x
Days sales outstanding: 42 daysa
Inventory turnover ratio: 7x
Fixed assets turnover: 2.5x
Current ratio: 1.8x
Gross profit margin on sales: (Sales - Cost of goods sold)/Sales =
20%
aCalculation is based on a 365-day year. Do not round
intermediate calculations. Round your answer to the nearest
cent.
BALANCE SHEET ANALYSIS Complete the balance sheet and sales information using the following...
please complete the entire question, try and use the same format if
possible
Cheche The following information was available for the year ended December 31, 2019 Net sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,022,000 642,400 43,000 22,400 210.000 156409 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory...
PROJECT:
Select any bank / firm of your choice. Take out its financial
statements.
Calculate the following ratios according to the information
found in these statements.
(NOTE: Show your workings)
1. Operating Cycle. Inventory Number of days of inventory - Average day's cost of goods sold Inventory cost of goods sold / 305 Number of days of receivables = Accounts receivable Average day's sales on credit Accounts receivable Sales on credit / 365 Number of days of payables - Accounts...
PROJECT:
Select any bank / firm of your choice. Take out its financial
statements.
Calculate the following ratios according to the information
found in these statements.
(NOTE: Show your workings)
1. Operating Cycle. Inventory Number of days of inventory - Average day's cost of goods sold Inventory cost of goods sold / 305 Number of days of receivables = Accounts receivable Average day's sales on credit Accounts receivable Sales on credit / 365 Number of days of payables - Accounts...
Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1x Days sales outstanding: 36.5 days Inventory turnover ratio: 5x Fixed assets turnover: 3.0x Current ratio: 2.0x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales-30% Calculation is based on a 365-day year Do not round intermediate calculations. Round your answers to the nearest dollar Balance Sheet Cash Current liabilities $ Accounts receivable Long-term debt 45,000 Inventories Common stock Fixed assets Retained earnings...
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