How do I figure E. and F.
I have done all of the other parts and they are correct but I can't
get the correct answer on those 2.
Homework Answers
Since only part E and F have been asked in the question , the same have been answered.
| Accounts Receivable Turnover | 19.67 times |
| Inventory Turnover | 6.32 times |
Working:
| Accounts Receivable Turnover | Credit Sales / Accounts Receivable | =2,950,000/150,000 | 19.67 times |
| Inventory Turnover | Cost of goods sold / Average Inventory | =1,834,000/290,000 | 6.32 times |
Cost of goods sold = Sales - Gross Profit = $2950000-1116000 = $1,834,000
Please give positive rating.
Add Answer to:
How do I figure E. and F. I have done all of the other parts and they are correct but I can't get the correct answer...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 113,000 150,000 290,000 60,000 570,000 90,000 $ 1,273,000 Liabilities & Stockholders' Equity Notes payable (due in 6 months) $ 48,000 Accounts payable 112,000 Long-term liabilities 376,000 Capital stock, $5 par 300,000 Retained earnings 437,000 Total $ 1,273,000 During the year, the company earned a gross profit of $1,116,000 on...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total Liabilities & Stockholders' Equity $ 102,000N otes payable (due in 6 months) $ 49,000 140,000 Accounts payable 102,000 270,000 Long-term liabilities 363,000 60,000 Capital stock, $5 par 300,000 570,000 Retained earnings 418,000 90,000 $1,232,000 Total $ 1,232,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 107,000 Notes payable (due in 6 months) $ 44,000 Accounts receivable 120,000 Accounts payable 118,000 Inventory 270,000 Long-term liabilities 328,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 427,000 Other assets 90,000 Total $ 1,217,000 Total $ 1,217,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 114,000 Notes payable (due in 6 months) $ 48,000 Accounts receivable 100,000 Accounts payable 97,000 Inventory 260,000 Long-term liabilities 316,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 433,000 Other assets 90,000 Total $ 1,194,000 Total $ 1,194,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 104,000 Notes payable (due in 6 months) $ 45,000 Accounts receivable 100,000 Accounts payable 122,000 Inventory 270,000 Long-term liabilities 321,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 406,000 Other assets 90,000 Total $ 1,194,000 Total $ 1,194,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 119,000 Notes payable (due in 6 months) $ 48,000 Accounts receivable 120,000 Accounts payable 105,000 Inventory 290,000 Long-term liabilities 360,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 436,000 Other assets 90,000 Total $ 1,249,000 Total $ 1,249,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 112,000 Notes payable (due in 6 months) $ 47,000 Accounts receivable 120,000 Accounts payable 114,000 Inventory 290,000 Long-term liabilities 362,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 419,000 Other assets 90,000 Total $ 1,242,000 Total $ 1,242,000 During the year, the company earned a gross profit of $1,116,000...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $164 194 144 94 $596 $100 194 134 94 $522 $204 $184 34 34 94 84 $332 $302 Sales on account during the year totaled $1,220 thousand. Cost of goods sold was $820 thousand. Required: Compute the...
Financial statements for Franklin Company follow. FRANKLIN COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Franklin Company follow. FRANKLIN COMPANY Balance Sheets As of December 31 2019 2018 $ 19,500 28,780 48,00 133,000 27,000 248,200 22,eee 290, eee 33,000 $593,200 $ 15,5ee 6,700 40,000 141,600 12,000 215,280 15,00 275,000 28,eee $533,280 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid itens Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable...
Compute the following ratios: (Use a 360-day year. Do not round intermediate calculations. Round your answers...
Compute the following ratios: (Use a 360-day year. Do
not round intermediate calculations. Round your answers to 2
decimal places. Input your debt-to-total assets answer as a percent
rounded to 2 decimal places.)
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,190,000, with 75 perc STUD CLOTHIERS Balance Sheet 20X1 Liabilities and Equity %24 Assets Accounts payable Cash 279,000 24,000 Accounts receivable Inventory Plant and equipment 283,000 266,000 450,000 Accrued taxes 107,000 130,000 Bonds...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 113,000 150,000 290,000 60,000 570,000 90,000 $ 1,273,000 Liabilities & Stockholders' Equity Notes payable (due in 6 months) $ 48,000 Accounts payable 112,000 Long-term liabilities 376,000 Capital stock, $5 par 300,000 Retained earnings 437,000 Total $ 1,273,000 During the year, the company earned a gross profit of $1,116,000 on...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total Liabilities & Stockholders' Equity $ 102,000N otes payable (due in 6 months) $ 49,000 140,000 Accounts payable 102,000 270,000 Long-term liabilities 363,000 60,000 Capital stock, $5 par 300,000 570,000 Retained earnings 418,000 90,000 $1,232,000 Total $ 1,232,000 During the year, the company earned a gross profit of $1,116,000...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $164 194 144 94 $596 $100 194 134 94 $522 $204 $184 34 34 94 84 $332 $302 Sales on account during the year totaled $1,220 thousand. Cost of goods sold was $820 thousand. Required: Compute the...
Financial statements for Franklin Company follow. FRANKLIN COMPANY Balance Sheets As of December 31 2019 2018 $ 19,500 28,780 48,00 133,000 27,000 248,200 22,eee 290, eee 33,000 $593,200 $ 15,5ee 6,700 40,000 141,600 12,000 215,280 15,00 275,000 28,eee $533,280 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid itens Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable...
Compute the following ratios: (Use a 360-day year. Do
not round intermediate calculations. Round your answers to 2
decimal places. Input your debt-to-total assets answer as a percent
rounded to 2 decimal places.)
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,190,000, with 75 perc STUD CLOTHIERS Balance Sheet 20X1 Liabilities and Equity %24 Assets Accounts payable Cash 279,000 24,000 Accounts receivable Inventory Plant and equipment 283,000 266,000 450,000 Accrued taxes 107,000 130,000 Bonds...
Most questions answered within 3 hours.
-
Which of the following is a provision of
NAFTA?
A.
Common accounting rules
B.
Adding new...
asked 9 minutes ago -
Need to do in Python? Can do in Javascript but not in Python
Write a function...
asked 24 minutes ago -
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 1 hour ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 3 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 5 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 6 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 7 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 8 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 7 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 8 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 8 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 9 hours ago