Homework Answers
| (a2) | |||
| Average days sell to inventory = 365/Inventory Turnover | |||
| Average days sell to inventory: | |||
| Company A | 34.4 | days | =365/10.6 |
| Company B | 70.2 | days | =365/5.2 |
| Alternatively, if inventory turnover is not rounded off: | |||
| Average days sell to inventory: | |||
| Company A | 34.6 | days | |
| Company B | 70.5 | days | |
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*Problem 12-16 (Part Level Submission) The following information in $ millions) was taken from the recent...
Problem 12-16 (Part Level Submission) The following information (in $ millions) was taken from the recent...
Problem 12-16 (Part Level Submission) The following information (in $ millions) was taken from the recent annual reports of two companies. Cost of goods sold Average inventory Company A $27,303.1 $2,758.1 Company B $26,558.0 $4,949.5 (1) Calculate each company's inventory turnover. (Round answers to 1 decimal place, e.g. 2.5.) Company A Company B Inventory turnover times times Click if you would like to Show Work for this question: Open Show Work Problem 12-17 (Part Level Submission) Poston, Inc., and Victor...
Problem 8-09A Suppose the amounts presented here are basic financial information (in millions) from the 2022...
Problem 8-09A Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending Nike $17,464.8 76.0 106.0 3,093.0 3,217,0 Adidas $7,831.8 130.0 135.0 1,608.0 1,405.0 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) Nike Adidas Accounts receivable turnover times times LINK...
View Policies Current Attempt in Progress The following information (in $ millions) was taken from the...
View Policies Current Attempt in Progress The following information (in $ millions) was taken from the recent annual reports of two companies. Company B Cost of goods sold Average inventory Company A $29,053 $2,551 $24,011 $4,732 (a1) Calculate each company's inventory turnover (Round answers to 1 decimal place, e.g. 2.5.) Company A Company B times times Inventory turnover e Textbook and Media Save for Later
The following information (in $ millions) was taken from recent annual reports of Kellogg Company and...
The following information (in $ millions) was taken from recent annual reports of Kellogg Company and General Mills, Inc. Sales revenue Average accounts receivable balance Kellogg General Mills $13,525 $17,630 $1,310 $1,435 Calculate each company's accounts receivable turnover. (Round answers to 1 decimal place, e.g. 50.1.) Accounts receivable turnover Kellogg times General Mills times LINK TO TEXT LINK TO VIDEO Calculate each company's average collection period. (Round answers to 1 decimal places, e.g. 50.1. Use 365 days for calculation.) Average...
Brief Exercise 13-12 a1-a2 (Part Level Submission) The following data were taken from the income statements...
Brief Exercise 13-12 a1-a2 (Part Level Submission) The following data were taken from the income statements of Crane Company. 2020 2019 Sales revenue Beginning inventory Purchases Ending inventory $6,385,000 934,000 4,646,200 1,040,000 $6,188,000 854,000 4,997,000 934,000 (a1) Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2020 2019 Inventory turnover times times Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2020...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
Exercise 8-14 (Part Level Submission) Suppose the following information was taken from the 2017 financial statements...
Exercise 8-14 (Part Level Submission)
Suppose the following information was taken from the 2017 financial
statements of FedEx Corporation, a major global
transportation/delivery company.
(in millions)
2017
2016
Accounts receivable (gross)
$ 3,852
$ 4,692
Accounts receivable (net)
3,425
4,599
Allowance for doubtful accounts
427
93
Sales revenue
33,684
36,359
Total current assets
7,758
7,628
Answer each of the following questions.
(a)
Your answer is incorrect. Try again.
Calculate the accounts receivable turnover and the average
collection period for 2017...
Application Problem 12-15A ai, b1 (Part Level Submission) (Ratio analysis over time) The following information comes fr...
Application Problem 12-15A ai, b1 (Part Level Submission) (Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $23,300 67,200 115,000 432,000 238,000 $875,500 $19,700 $27,100 50,000 144,500 136,000 227,000 459,000 484,000 204,000 268,600 $868,700 $1,151,200 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $101,000 192,000 521,000...
pt.b *Brief Exercise 19-07 a-b (Part Level Submission) Coronado Company has the following data: direct labor $248,0...
pt.b
*Brief Exercise 19-07 a-b (Part Level Submission) Coronado Company has the following data: direct labor $248,000, direct materials used $188,000, total manufacturing overhead $253,000, and beginning work in process $36,000. *(a) Your answer is correct. Compute total manufacturing costs. Total manufacturing costs $1689,000 Attempts: 2 of 3 used *(b) Your answer is incorrect. Try again. Compute total cost of work in process. Total cost of work in process o 472,000 Attempts: 1 of 3 used Copyright © 2000-2019 by...
Application Problem 12-15A a1, b1 (Part Level Submission) (Ratio analysis over time) The following information comes...
Application Problem 12-15A a1, b1 (Part Level Submission) (Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $23,300 67,200 115,000 432,000 238,000 $875,500 $19,700 $27,100 50,000 144,500 136,000 227,000 459,000 484,000 204,000 268,600 $868,700 $1,151,200 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $101,000 192,000 521,000...
Problem 12-16 (Part Level Submission) The following information (in $ millions) was taken from the recent annual reports of two companies. Cost of goods sold Average inventory Company A $27,303.1 $2,758.1 Company B $26,558.0 $4,949.5 (1) Calculate each company's inventory turnover. (Round answers to 1 decimal place, e.g. 2.5.) Company A Company B Inventory turnover times times Click if you would like to Show Work for this question: Open Show Work Problem 12-17 (Part Level Submission) Poston, Inc., and Victor...
Problem 8-09A Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending Nike $17,464.8 76.0 106.0 3,093.0 3,217,0 Adidas $7,831.8 130.0 135.0 1,608.0 1,405.0 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) Nike Adidas Accounts receivable turnover times times LINK...
View Policies Current Attempt in Progress The following information (in $ millions) was taken from the recent annual reports of two companies. Company B Cost of goods sold Average inventory Company A $29,053 $2,551 $24,011 $4,732 (a1) Calculate each company's inventory turnover (Round answers to 1 decimal place, e.g. 2.5.) Company A Company B times times Inventory turnover e Textbook and Media Save for Later
The following information (in $ millions) was taken from recent annual reports of Kellogg Company and General Mills, Inc. Sales revenue Average accounts receivable balance Kellogg General Mills $13,525 $17,630 $1,310 $1,435 Calculate each company's accounts receivable turnover. (Round answers to 1 decimal place, e.g. 50.1.) Accounts receivable turnover Kellogg times General Mills times LINK TO TEXT LINK TO VIDEO Calculate each company's average collection period. (Round answers to 1 decimal places, e.g. 50.1. Use 365 days for calculation.) Average...
Brief Exercise 13-12 a1-a2 (Part Level Submission) The following data were taken from the income statements of Crane Company. 2020 2019 Sales revenue Beginning inventory Purchases Ending inventory $6,385,000 934,000 4,646,200 1,040,000 $6,188,000 854,000 4,997,000 934,000 (a1) Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) 2020 2019 Inventory turnover times times Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2020...
Brief Exercise 6-8 (Part Level Submission) At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $44,000 beginning inventory $58,000, cost of goods sold $260,000, and sales revenue $370,000. Calculate inventory turnover for E. Hetzel Company. (Round answer to 1 decimal place, e.g. 1.5.) Inventory turnover times LINK TO TEXT Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER ? (b) Calculate days in inventory for E. Hetzel Company. (Round answer to 1 decimal...
Exercise 8-14 (Part Level Submission)
Suppose the following information was taken from the 2017 financial
statements of FedEx Corporation, a major global
transportation/delivery company.
(in millions)
2017
2016
Accounts receivable (gross)
$ 3,852
$ 4,692
Accounts receivable (net)
3,425
4,599
Allowance for doubtful accounts
427
93
Sales revenue
33,684
36,359
Total current assets
7,758
7,628
Answer each of the following questions.
(a)
Your answer is incorrect. Try again.
Calculate the accounts receivable turnover and the average
collection period for 2017...
Application Problem 12-15A ai, b1 (Part Level Submission) (Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $23,300 67,200 115,000 432,000 238,000 $875,500 $19,700 $27,100 50,000 144,500 136,000 227,000 459,000 484,000 204,000 268,600 $868,700 $1,151,200 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $101,000 192,000 521,000...
pt.b
*Brief Exercise 19-07 a-b (Part Level Submission) Coronado Company has the following data: direct labor $248,000, direct materials used $188,000, total manufacturing overhead $253,000, and beginning work in process $36,000. *(a) Your answer is correct. Compute total manufacturing costs. Total manufacturing costs $1689,000 Attempts: 2 of 3 used *(b) Your answer is incorrect. Try again. Compute total cost of work in process. Total cost of work in process o 472,000 Attempts: 1 of 3 used Copyright © 2000-2019 by...
Application Problem 12-15A a1, b1 (Part Level Submission) (Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $23,300 67,200 115,000 432,000 238,000 $875,500 $19,700 $27,100 50,000 144,500 136,000 227,000 459,000 484,000 204,000 268,600 $868,700 $1,151,200 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $101,000 192,000 521,000...
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