computing the numbers for the " last year"
when computing the average collection period, what would the denominator be? it says my answer is wrong only for the " last year columb"
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every question requires this year and last year 1) working capital (this and last year) 2)...
every question requires this year and last year
1) working capital (this and last year)
2) the current ratio
3) average collection period (use 365 days in a year)
(accounts recievable at the beginning if kast year totaled
1,670,000)
4) average sale period (365 days in a year, inventory of
beginning of kast year is 2,030,000)
5) operating cycle
6) total asset turnover (totaled at the beginning if last year
at 14,610,000)
Lydex Company Comparative Balance Sheet This Year Last...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual report for Libby, Inc. contained the following data: Accounts receivable Less: Allowances Net accounts receivable (dollars in thousands) Current Year Previous Year $ 4,753,000 $ 6,124,000 119,000 109,000 $ 4,634,000 $6,015,000 $ 62,801,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do no round Intermediate calculations. Enter your answers in...
Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 960,000 $...
Lydex Company Comparative Balance Sheet This Year Last Year Assets Current assets: Cash $ 960,000 $ 1,200,000 Marketable securities 0 300,000 Accounts receivable, net 2,700,000 1,800,000 Inventory 3,600,000 2,000,000 Prepaid expenses 260,000 200,000 Total current assets 7,520,000 5,500,000 Plant and equipment, net 9,520,000 9,050,000 Total assets $ 17,040,000 $ 14,550,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 4,010,000 $ 2,980,000 Note payable, 10% 3,660,000 3,060,000 Total liabilities 7,670,000 6,040,000 Stockholders' equity: Common stock, $75 par value 7,500,000 7,500,000 Retained...
pter 14 Homework Assignments - Save Last Year 2 of 3 Comparative Balance sheet This Year...
pter 14 Homework Assignments - Save Last Year 2 of 3 Comparative Balance sheet This Year Assets Current assets: $ 870,000 Marketable securities Accounts receivable, net 2,340,000 Inventory 3,510,000 Prepaid expenses 240,000 Total current assets 6,960,000 Plant and equipment, net 9,340,000 Total assets $ 16,300,000 Liabilities and Stockholders Equity Liabilities: Current liabilities $ 3,920,000 Note payable, 108 3,600,000 Total liabilities 7.520.000 Stockholders' equity: Common stock, $70 par value 7,000,000 Retained earnings 1,780,000 Total stockholders' equity 8,780,000 Total liabilities and stockholders'...
(Efficiency analysis) The Brenmar Sales Company had a gross profit margin (gross profits ÷ sales) of 26 percent and sales of $8.3 million last year.
(Efficiency analysis) The Brenmar Sales Company had a gross profit margin (gross profits ÷ sales) of 26 percent and sales of $8.3 million last year. 70 percent of the firm's sales are on credit, and the remainder are cash sales. Brenmar's current assets equal $1.4 million, its current liabilities equal $295,500, and it has $109,900 in cash plus marketable securities. a. If Brenmar's accounts receivable equal $561,700, what is its average collection period? b. If Brenmar reduces its average collection period to...
Consider the following exercises: 1. What are the advantages of computing limit algebraically over using tables of values or graphs? 2. Give an example of a polynomial or rational function and de...
Consider the following exercises: 1. What are the advantages of computing limit algebraically over using tables of values or graphs? 2. Give an example of a polynomial or rational function and describe an algebraic method for finding limits for the polynomial or rational function. ( X ) by computing f (a), what should you do if the result is a fraction with 3.When trying to compute lim r-+a denominator zero? 2) . Explain when each method would be used and...
Granger Corporation had $191,000 in sales on account last year. The beginning accounts receivable balance was...
Granger Corporation had $191,000 in sales on account last year. The beginning accounts receivable balance was $22,000 and the ending accounts receivable balance was $32,000. The corporation's average collection period was closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice 42.0 days 51.6 days 61.2 days 7.1 days
Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the...
Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period. Units Unit Cost Beginning Inventory 100 $ 26 Purchases: #1 650 22 #2 550 18 #3 200 16 Ending inventory is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first out, (b) average cost, and (c) last-in, first out. (a) First-in, first-out Ending inventory Answer Cost of goods sold Answer (b)...
A random sample of 19 college men's basketball games during the last season had an average...
A random sample of 19 college men's basketball games during the last season had an average attendance of 5,045 with a sample standard deviation of 1,754. Construct a 90% confidence interval to estimate the average attendance of a college men's basketball game during the last season. My answer was wrong 4,842.78 and 5,247.22 The correct answer is: 4,430 and 5,660 Please explain step by step.
Chik's Chickens has accounts receivable of $6,133. Sales for the year were $9,600. What is its...
Chik's Chickens has accounts receivable of $6,133. Sales for the year were $9,600. What is its average collection period? (Use 365 days in a year. Do not round intermediate calculations. Round your final answer to the nearest whole number.) Average collection period days
every question requires this year and last year
1) working capital (this and last year)
2) the current ratio
3) average collection period (use 365 days in a year)
(accounts recievable at the beginning if kast year totaled
1,670,000)
4) average sale period (365 days in a year, inventory of
beginning of kast year is 2,030,000)
5) operating cycle
6) total asset turnover (totaled at the beginning if last year
at 14,610,000)
Lydex Company Comparative Balance Sheet This Year Last...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual report for Libby, Inc. contained the following data: Accounts receivable Less: Allowances Net accounts receivable (dollars in thousands) Current Year Previous Year $ 4,753,000 $ 6,124,000 119,000 109,000 $ 4,634,000 $6,015,000 $ 62,801,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do no round Intermediate calculations. Enter your answers in...
pter 14 Homework Assignments - Save Last Year 2 of 3 Comparative Balance sheet This Year Assets Current assets: $ 870,000 Marketable securities Accounts receivable, net 2,340,000 Inventory 3,510,000 Prepaid expenses 240,000 Total current assets 6,960,000 Plant and equipment, net 9,340,000 Total assets $ 16,300,000 Liabilities and Stockholders Equity Liabilities: Current liabilities $ 3,920,000 Note payable, 108 3,600,000 Total liabilities 7.520.000 Stockholders' equity: Common stock, $70 par value 7,000,000 Retained earnings 1,780,000 Total stockholders' equity 8,780,000 Total liabilities and stockholders'...
Consider the following exercises: 1. What are the advantages of computing limit algebraically over using tables of values or graphs? 2. Give an example of a polynomial or rational function and describe an algebraic method for finding limits for the polynomial or rational function. ( X ) by computing f (a), what should you do if the result is a fraction with 3.When trying to compute lim r-+a denominator zero? 2) . Explain when each method would be used and...
Chik's Chickens has accounts receivable of $6,133. Sales for the year were $9,600. What is its average collection period? (Use 365 days in a year. Do not round intermediate calculations. Round your final answer to the nearest whole number.) Average collection period days
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