Homework Answers
ANSWER 21- OPTION A
EXPLANATION
THE FIRST STATEMENT IS NOT TRUE BECAUSE HIGH RECEIVABLE TURNOVER RATIO IMPLIES MORE EFFICIENT COLLECTION,THIS MEANS THAT COMPANY HAS HIGHER PROPOSITION OF THOSE CUSTOMERS WHICH PAY THERE DEBTS QUICKLY OR IT ALSO IMPLIES THAT COMPANY MOSTLY RUN ON CASH BASIS.
ANSWER 22-OPTION A
EXPLANATION
PURCHASE INVENTORY IS A PART OF OPERATING ACTIVITY
PAYMENT OF CASH DIVIDEND IS PART OF FINANCING ACTIVITY
PURCHASE OF EQUIMENT WILL BE A PART OF INVESTING ACTIVITY
PURCHASE OF INVESTMENT WILL BE A PART OF INVESTING ACTIVITY
Add Answer to:
QUESTION 21 Hulkster Company has a receivables turnover ratio of 5.00 for the year 2020. Which...
Saved The receivables turnover ratio indicates DEL Multiple Choice e H ow efficient the company is...
Saved The receivables turnover ratio indicates DEL Multiple Choice e H ow efficient the company is at managing sales and inventory. The relationship between sales and cost of goods sold. number of times during a year that the average accounts receivables were collected. 0 CA The relationship between cash sales and credit sales < Prev 25 of 30 Next > newcom ecucduUILCUNDU Help Save & Exit Saved uiz At the end of the year, Mark Inc. estimates future bad debts...
Question 16 4 pts Hilde Company reported accounts receivable of $40,000 at the beginning of 2020....
Question 16 4 pts Hilde Company reported accounts receivable of $40,000 at the beginning of 2020. It reported a balance of $28,000 at the end of 2020. Also, no accounts receivable were written off during 2020. From this information, it is possible to determine that during 2020. credit sales were higher than cash collected from customers the firm was doing a poor job of collecting its receivables credit sales were less than cash collected from customers credit sales decreased from...
A company has positive NPV, IRR 21% & payback 3.15 yrs. By using the following financial...
A company has positive NPV, IRR 21% & payback 3.15 yrs. By
using the following financial ratios how the company financial
feasibility and give the suggestions for future growth.
Liquidity/Financial Health 2019 2021 2022 2020 2023 Working Capital Current Assets 7,298.00 8,692.59 13,904.31 19,021.94 25,028.21 1,329.93 1,851.37 3,007.00 3,211.473,348.44 5,968.07 6,841.22 10,897.31 15,810.47 21,679.77 Curent Liabilities Working capital Current Ratio Current Assets 7,298.00 8,692.59 13,904.31 19,021.9425,028.21 1,329.93 1,851.37 3,007.00 3,211.47 3,348.44 4.63 Curent Liabilities 4.70 5.93 (Unit: Times) 7.48 5.48...
The statement of cash flows reported bad debt expense for 2021 of $5 million. The summary...
The statement of cash flows reported bad debt expense for 2021 of $5 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part) The allowance for uncollectible accounts was $7 and $4 at December 31, 2021 and 2020, respectively. All sales are on credit. Inventories Inventories are valued at the lower of cost or market. The cost of the majority of inventories is measured using the last-in, first-out (LIFO) method. Other inventories...
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products....
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2021 fiscal year reported the following information ($ in millions): Sales Cost of goods sold $7,300 6,300 The company's balance sheets for 2021 and 2020 included the following information ($ in millions) 2021 2020 Current assets: Accounts receivable, net Inventories $ 726 950 $ 626 862 The statement of cash flows reported bad debt expense for 2021 of...
only question b please. PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory...
only question b please.
PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory Prepaid expenses Total Current Assets Property, plant and Equipment (net) Total Assets Current Liabilities Bonds Payable Common stockholder's equity Total liabilities and stockholder's equity Dec. 31 2017 $ 52,000 198,000 80,000 440,000 3,000 $ 773,000 857,000 $ 1,630,000 240,000 400,000 990,000 $ 1,630,000 Dec 31 2016 $ 60,000 80,000 40,000 360,000 7,000 $ 547,000 853,000 $ 1.400,000 160,000 400,000 840.000 $1,400,000 INCOME STATEMENT FOR...
only question b please. PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory...
only question b please.
PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory Prepaid expenses Total Current Assets Property, plant and Equipment (net) Total Assets Current Liabilities Bonds Payable Common stockholder's equity Total liabilities and stockholder's equity Dec. 31 2017 $ 52,000 198,000 80,000 440,000 3,000 $ 773,000 857,000 $ 1,630,000 240,000 400,000 990,000 $ 1,630,000 Dec 31 2016 $ 60,000 80,000 40,000 360,000 7,000 $ 547,000 853,000 $ 1.400,000 160,000 400,000 840.000 $1,400,000 INCOME STATEMENT FOR...
At the end of the current year, a company has the following amounts: During the Estimated current for next...
At the end of the current year, a company has the following amounts: During the Estimated current for next year year $ 7,200 $ 8,300 $12,500 $9,100 $ 2,400 $ 2,600 Sales returns Sales allowances Sales discounts For what amount would the company report sales returns in its current-year in Multiple Choice $7,200. 0 $9,500. 0 $15,500 0 $22,100. 0 uizi The percentage-of-receivables method for accounting for uncollectible accounts focuses on the: Multiple Choice Total credit sales for the year....
Stacey's Piano Rebuilding Company has been operating for one year (2019). At the start of 2020,...
Stacey's Piano Rebuilding Company has been operating for one year (2019). At the start of 2020, its statement of earnings accounts had zero balances and the account balances on its statement of financial position were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 14,500 Accounts payable 54,500 Deferred revenue (deposits) 3,300 Note payable (due in three years) 20,500 Contributed capital 16,500 Retained earnings 68,500 20.500 7,300 84,500 20,500 45,000 The following transactions occurred in January 2020: a....
Marin Inc.’s CFO has just left the office of the company president after a meeting about the draft SFP at April 30, 2020, and income statement for the year then ended. (Both are reproduced below.) “Our liquidity position looks healthy,” the president had
Marin Inc.’s CFO has just left the office of the company president after a meeting about the draft SFP at April 30, 2020, and income statement for the year then ended. (Both are reproduced below.) “Our liquidity position looks healthy,” the president had remarked. “Look at the current and acid-test ratios, and the amount of working capital we have. And between the goodwill write off and depreciation, we have almost $23 million of non-cash expenses. I don’t understand why you’ve been...
Saved The receivables turnover ratio indicates DEL Multiple Choice e H ow efficient the company is at managing sales and inventory. The relationship between sales and cost of goods sold. number of times during a year that the average accounts receivables were collected. 0 CA The relationship between cash sales and credit sales < Prev 25 of 30 Next > newcom ecucduUILCUNDU Help Save & Exit Saved uiz At the end of the year, Mark Inc. estimates future bad debts...
Question 16 4 pts Hilde Company reported accounts receivable of $40,000 at the beginning of 2020. It reported a balance of $28,000 at the end of 2020. Also, no accounts receivable were written off during 2020. From this information, it is possible to determine that during 2020. credit sales were higher than cash collected from customers the firm was doing a poor job of collecting its receivables credit sales were less than cash collected from customers credit sales decreased from...
A company has positive NPV, IRR 21% & payback 3.15 yrs. By
using the following financial ratios how the company financial
feasibility and give the suggestions for future growth.
Liquidity/Financial Health 2019 2021 2022 2020 2023 Working Capital Current Assets 7,298.00 8,692.59 13,904.31 19,021.94 25,028.21 1,329.93 1,851.37 3,007.00 3,211.473,348.44 5,968.07 6,841.22 10,897.31 15,810.47 21,679.77 Curent Liabilities Working capital Current Ratio Current Assets 7,298.00 8,692.59 13,904.31 19,021.9425,028.21 1,329.93 1,851.37 3,007.00 3,211.47 3,348.44 4.63 Curent Liabilities 4.70 5.93 (Unit: Times) 7.48 5.48...
The statement of cash flows reported bad debt expense for 2021 of $5 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part) The allowance for uncollectible accounts was $7 and $4 at December 31, 2021 and 2020, respectively. All sales are on credit. Inventories Inventories are valued at the lower of cost or market. The cost of the majority of inventories is measured using the last-in, first-out (LIFO) method. Other inventories...
Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2021 fiscal year reported the following information ($ in millions): Sales Cost of goods sold $7,300 6,300 The company's balance sheets for 2021 and 2020 included the following information ($ in millions) 2021 2020 Current assets: Accounts receivable, net Inventories $ 726 950 $ 626 862 The statement of cash flows reported bad debt expense for 2021 of...
only question b please.
PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory Prepaid expenses Total Current Assets Property, plant and Equipment (net) Total Assets Current Liabilities Bonds Payable Common stockholder's equity Total liabilities and stockholder's equity Dec. 31 2017 $ 52,000 198,000 80,000 440,000 3,000 $ 773,000 857,000 $ 1,630,000 240,000 400,000 990,000 $ 1,630,000 Dec 31 2016 $ 60,000 80,000 40,000 360,000 7,000 $ 547,000 853,000 $ 1.400,000 160,000 400,000 840.000 $1,400,000 INCOME STATEMENT FOR...
only question b please.
PRIOR COMPANY BALANCE SHEET Cash Accounts Receivables (net) Short Term Investments Inventory Prepaid expenses Total Current Assets Property, plant and Equipment (net) Total Assets Current Liabilities Bonds Payable Common stockholder's equity Total liabilities and stockholder's equity Dec. 31 2017 $ 52,000 198,000 80,000 440,000 3,000 $ 773,000 857,000 $ 1,630,000 240,000 400,000 990,000 $ 1,630,000 Dec 31 2016 $ 60,000 80,000 40,000 360,000 7,000 $ 547,000 853,000 $ 1.400,000 160,000 400,000 840.000 $1,400,000 INCOME STATEMENT FOR...
At the end of the current year, a company has the following amounts: During the Estimated current for next year year $ 7,200 $ 8,300 $12,500 $9,100 $ 2,400 $ 2,600 Sales returns Sales allowances Sales discounts For what amount would the company report sales returns in its current-year in Multiple Choice $7,200. 0 $9,500. 0 $15,500 0 $22,100. 0 uizi The percentage-of-receivables method for accounting for uncollectible accounts focuses on the: Multiple Choice Total credit sales for the year....
Stacey's Piano Rebuilding Company has been operating for one year (2019). At the start of 2020, its statement of earnings accounts had zero balances and the account balances on its statement of financial position were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 14,500 Accounts payable 54,500 Deferred revenue (deposits) 3,300 Note payable (due in three years) 20,500 Contributed capital 16,500 Retained earnings 68,500 20.500 7,300 84,500 20,500 45,000 The following transactions occurred in January 2020: a....
Most questions answered within 3 hours.
-
1. Which formula gives the standard error for all xbar
values? _______
a) σ/√n b) σ c)...
asked 47 seconds from now -
is it appropriate to use a normal distribution to approximate a
confidence interval for the population...
asked 10 minutes ago -
Choose the correct sample space (S) for the random experiment
that is described.
A pair of...
asked 13 minutes ago -
Provide clear answers to the following questions at the end of
your lab report.
Use the...
asked 21 minutes ago -
The equilibrium constant, Kc, for the following reaction is
1.20×10-2 at 500 K. PCl5(g) PCl3(g) +...
asked 27 minutes ago -
Consider stock-based compensation: stock options, restricted
stock and stock appreciation rights. Which of the following
statements...
asked 27 minutes ago -
In a survey of
2320
adults,
725
say they believe in UFOs. Construct a
99 %...
asked 38 minutes ago -
A
test was given and the scores were the following: 10 10 14 16 18 19...
asked 42 minutes ago -
An electric power station that operates at 10 kV and uses a 10:1
step-up ideal transformer...
asked 40 minutes ago -
Lee Company has the following information for the pay period of
December 15–31:
Gross payroll
$18,703...
asked 39 minutes ago -
I need help writing this java program, here is what it wants me
too code.
Write...
asked 44 minutes ago -
In C Programming
Easter Sunday is the first Sunday after the first full moon of spring....
asked 44 minutes ago