Homework Answers
| Chicou | Jonq | |
|---|---|---|
| Gross margin (Sales - Cost of Goods Sold) | 2,859,400 | 1,085,000 |
| Gross margin ratio (Gross margin/Sales) | 50% | 50% |
| Inventory Turnover (Cogs/Avg inventory) | 6.8 | 6.2 |
Add Answer to:
Application Problem 7-16A a, b1-b2 (Part Level Submission) The following information was taken from the accounting reco...
Do- Exercise 6-04 a-b1,b2 (Part Level Submission) Answer the following questions: (a) (51) Early in 2020,...
Do- Exercise 6-04 a-b1,b2 (Part Level Submission) Answer the following questions: (a) (51) Early in 2020, Ayayai Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2019 and 2020 are shown below. 2019 2020 Sales Cost of goods sold Beginning inventory Ending inventory $3,121,000 1,168,000 180,000 220,000 $3,718,000 1,600,000 220,000 100,000 Determine the inventory turnover for 2019 and 2020. (Round answers to 2 decimal places, e.g. 1.25.) 2019 2020 Inventory turnover...
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...
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...
Marin Company's condensed financial statements provide the following information. Dec 31, 2019 WO MARIN COMPANY BALANCE...
Marin Company's condensed financial statements provide the following information. Dec 31, 2019 WO MARIN COMPANY BALANCE SHEET Dec. 31, 2020 Cash $ 52,500 Accounts receivable (net) 199,800 Short-term investments 80,000 Inventory 439,400 Prepaid expenses 3,000 Total current assets $ 774,700 Property, plant, and equipment (net) 854,900 Total assets $1,629,600 Current liabilities 233,500 Bonds payable 402,000 Common stockholders' equity 994,100 Total liabilities and stockholders' equity $1,629,600 $59,500 80,000 39,800 363,300 6,900 $549,500 849,200 $1,398,700 154,600 402,000 8 42,100 $1,398,700 233.50 INCOME...
Exercise 13-19 (Part Level Submission) Presented below is information related to Riverbed Inc. RIVERBED INC. BALANCE...
Exercise 13-19 (Part Level Submission)
Presented below is information related to Riverbed Inc.
RIVERBED INC.
BALANCE SHEET
DECEMBER 31, 2017
Cash
$44,700
Notes payable (short-term)
$50,400
Receivables
$109,000
Accounts payable
31,900
Less: Allowance
15,000
94,000
Accrued liabilities
5,000
Inventory
171,700
Common stock (par $5)
261,100
Prepaid insurance
8,100
Retained earnings
141,500
Land
20,000
Equipment (net)
151,400
$489,900
$489,900
RIVERBED INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2017
Sales revenue
$1,401,100
Cost of goods sold
Inventory, Jan. 1,...
Marin Company's condensed financial statements provide the following information. MARIN COMPANY BALANCE SHEET Dec. 31, Dec....
Marin Company's condensed financial statements provide the following information. MARIN COMPANY BALANCE SHEET Dec. 31, Dec. 31, 2019 2020 $ 52,500 $ 59,500 Cash Accounts recelvable (net) 199,800 80,000 Short-term investments 80,000 39,800 Inventory 439,400 363,300 Prepaid expenses 3,000 6,900 $ 774,700 $ 549,500 Total current assets Property, plant, and equipment (net) 854,900 849,200 $1,629,600 $1,398,700 Total assets Current liabilities 233,500 154,600 Bonds payable 402,000 402,000 Common stockholders' equity 994,100 842,100 $1,629,600 $1,398,700 Total liabilities and stockholders' equity INCOME STATEMENT...
Problem 6-03A a, b1-b2, c (Part Level Submission) (Video) Oriole Company had a beginning inventory on...
Problem 6-03A a, b1-b2, c (Part Level Submission) (Video)
Oriole Company had a beginning inventory on January 1 of 323
units of Product 4-18-15 at a cost of $20 per unit. During the
year, the following purchases were made.
Mar. 15
860 units
at
$23
Sept. 4
753 units
at
$26
July 20
538 units
at
$24
Dec. 2
215 units
at
$29
2,150 units were sold. Oriole Company uses a periodic inventory
system.
Determine the cost of goods available...
Application Problem 6-15B a, c (Part Level Submission) The following amounts were reported by Sindarius Ltd. in its mo...
Application Problem 6-15B a, c (Part Level Submission) The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position: 2020 2019 Cash and cash equivalents $33,480 $98,400 Accounts receivable (net) 273,420 205,000 Inventory 624,960 479,700 Prepaid expenses 16,740 16,400 Property, plant, and equipment (net) 1,165,200 1,225,700 Accounts payable 439,000 307,000 Wages payable 29,000 32,000 Income tax payable 24,000 19,000 Unearned revenue 66,000 52,000 Long-term bank loan payable 817,000 904,000 Common shares 200,000 200,000 Retained earnings...
Problem 6-03A a, b1-b2, c (Part Level Submission) (Video) Crane Company had a beginning inventory on...
Problem 6-03A a, b1-b2, c (Part Level Submission)
(Video)
Crane Company had a beginning inventory on January 1 of 160 units
of Product 4-18-15 at a cost of $20 per unit. During the year, the
following purchases were made.
Mar. 15
400 units
at
$24
Sept. 4
300 units
at
$33
July 20
220 units
at
$28
Dec. 2
100 units
at
$30
980 units were sold. Crane Company uses a periodic inventory
system.
(a)
Your answer is correct.
Determine...
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...
Do- Exercise 6-04 a-b1,b2 (Part Level Submission) Answer the following questions: (a) (51) Early in 2020, Ayayai Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2019 and 2020 are shown below. 2019 2020 Sales Cost of goods sold Beginning inventory Ending inventory $3,121,000 1,168,000 180,000 220,000 $3,718,000 1,600,000 220,000 100,000 Determine the inventory turnover for 2019 and 2020. (Round answers to 2 decimal places, e.g. 1.25.) 2019 2020 Inventory turnover...
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...
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...
Marin Company's condensed financial statements provide the following information. Dec 31, 2019 WO MARIN COMPANY BALANCE SHEET Dec. 31, 2020 Cash $ 52,500 Accounts receivable (net) 199,800 Short-term investments 80,000 Inventory 439,400 Prepaid expenses 3,000 Total current assets $ 774,700 Property, plant, and equipment (net) 854,900 Total assets $1,629,600 Current liabilities 233,500 Bonds payable 402,000 Common stockholders' equity 994,100 Total liabilities and stockholders' equity $1,629,600 $59,500 80,000 39,800 363,300 6,900 $549,500 849,200 $1,398,700 154,600 402,000 8 42,100 $1,398,700 233.50 INCOME...
Exercise 13-19 (Part Level Submission)
Presented below is information related to Riverbed Inc.
RIVERBED INC.
BALANCE SHEET
DECEMBER 31, 2017
Cash
$44,700
Notes payable (short-term)
$50,400
Receivables
$109,000
Accounts payable
31,900
Less: Allowance
15,000
94,000
Accrued liabilities
5,000
Inventory
171,700
Common stock (par $5)
261,100
Prepaid insurance
8,100
Retained earnings
141,500
Land
20,000
Equipment (net)
151,400
$489,900
$489,900
RIVERBED INC.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2017
Sales revenue
$1,401,100
Cost of goods sold
Inventory, Jan. 1,...
Marin Company's condensed financial statements provide the following information. MARIN COMPANY BALANCE SHEET Dec. 31, Dec. 31, 2019 2020 $ 52,500 $ 59,500 Cash Accounts recelvable (net) 199,800 80,000 Short-term investments 80,000 39,800 Inventory 439,400 363,300 Prepaid expenses 3,000 6,900 $ 774,700 $ 549,500 Total current assets Property, plant, and equipment (net) 854,900 849,200 $1,629,600 $1,398,700 Total assets Current liabilities 233,500 154,600 Bonds payable 402,000 402,000 Common stockholders' equity 994,100 842,100 $1,629,600 $1,398,700 Total liabilities and stockholders' equity INCOME STATEMENT...
Problem 6-03A a, b1-b2, c (Part Level Submission) (Video)
Oriole Company had a beginning inventory on January 1 of 323
units of Product 4-18-15 at a cost of $20 per unit. During the
year, the following purchases were made.
Mar. 15
860 units
at
$23
Sept. 4
753 units
at
$26
July 20
538 units
at
$24
Dec. 2
215 units
at
$29
2,150 units were sold. Oriole Company uses a periodic inventory
system.
Determine the cost of goods available...
Application Problem 6-15B a, c (Part Level Submission) The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position: 2020 2019 Cash and cash equivalents $33,480 $98,400 Accounts receivable (net) 273,420 205,000 Inventory 624,960 479,700 Prepaid expenses 16,740 16,400 Property, plant, and equipment (net) 1,165,200 1,225,700 Accounts payable 439,000 307,000 Wages payable 29,000 32,000 Income tax payable 24,000 19,000 Unearned revenue 66,000 52,000 Long-term bank loan payable 817,000 904,000 Common shares 200,000 200,000 Retained earnings...
Problem 6-03A a, b1-b2, c (Part Level Submission)
(Video)
Crane Company had a beginning inventory on January 1 of 160 units
of Product 4-18-15 at a cost of $20 per unit. During the year, the
following purchases were made.
Mar. 15
400 units
at
$24
Sept. 4
300 units
at
$33
July 20
220 units
at
$28
Dec. 2
100 units
at
$30
980 units were sold. Crane Company uses a periodic inventory
system.
(a)
Your answer is correct.
Determine...
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...
Most questions answered within 3 hours.
-
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 4 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 4 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 7 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 10 minutes ago -
A newspaper in a large Midwestern city reported that the
National Association of Realtors said that...
asked 12 minutes ago -
1. Develop a use case diagram for the bank case study described
in Chapter 1. 2....
asked 22 minutes ago -
The phylum Protista has often been referred to as a junk drawer
of classification. Explain what...
asked 29 minutes ago -
The average amount of money spent for lunch per person in the
college cafeteria is $7.09...
asked 31 minutes ago -
You follow the lab procedure and at the end of Part 4C, you used
an average...
asked 50 minutes ago -
Write 250-450 words, about the following: • Analyze how a
servant leader in your organization or...
asked 53 minutes ago -
3. American and Japanese workers can each produce 4 cars a
year. An American worker can...
asked 56 minutes ago -
On October 1, 20X1, a company purchased a piece of land by
agreeing to pay the...
asked 1 hour ago