The following information is available for Gladys Corp. for the
past two years:
Homework Answers
Accounts receivable turnover = Net credit sales for 20X3 / Average accounts receivable
=$ 6,000,000 / [ (760,000+700,000)/2]
= 8.21978082
Average collection period for 20X3 = 365 Days /Accounts receivable turnover
= 365/ 8.21978082
= 44.41
Answer : 44.41
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The following information is available for Gladys Corp. for the
past two years:
The following information...
Calculate the ratio of the following: Marnus Inc Income Statement For the Financial Year ended 12/31/19...
Calculate the ratio of the following:
Marnus Inc Income Statement For the Financial Year ended 12/31/19 $150,000,000 ($130,000,000) $20,000,000 12/31/18 $140,000,000 ($123,000,000) $17,000,000 $9,000,000 $10,000,000 Statement values in 000's Period Ending: Total Revenue (Net Revenue) Cost of Revenue (COGS) Gross Profit Operating Expenses Sales, General and Admin. Other Operating Items Total Operating Exp Operating Income (or loss) Interest Expense Earnings Before Tax Income Tax Net Income (or loss) $0 $0 | ($9,000,000) $11,000,000 ($1,000,000) $10,000,000 ($5,000,000) $5,000,000 ($10,000,000) $7,000,000 ($800,000)...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
(b) The following financial statement is for the current year. From the past, you know that...
(b) The following financial statement is for the current year. From the past, you know that 10% of fixed-rate mortgages prepay each year. You also estimate that 10% of checkable deposits and 20% of savings accounts are rate sensitive. Assets (RM) 15,000,000 5,500,000 Reserves Securities < 1 year 1 to 2 years >2 years 8,000,000 Residential Mortgages Variables-rate Fixed-rate Liabilities (RM) 1,500,000 Checkable Deposits Money Market 6,000,000 Deposits 8,000,000 Savings Accounts 12,000,000 CDs Variables-rate <1 year 7,000,000 1 to 2...
Accounts Recelvable Turnover and Average Collection Perlod The Bud Miller Corporation disclosed the following financial information...
Accounts Recelvable Turnover and Average Collection Perlod The Bud Miller Corporation disclosed the following financial information (in millions) in its recent annual report: 2018 2019 $97,096 $111,662 6,450 Net Sales Beginning Accounts Receivable (net) Ending Accounts Receivable (net) 6,355 6,355 6,598 a. Calculate the accounts receivable turnover ratio for both years. (Round your answer to two decimal points.) b. Calculate the average collection period for both years. (Use 365 days for calculation. Round to the nearest whole number.) c. Is...
5. The following information is available for Omari Corporation for 2018 (5 marks): Beginning inventory
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Accounts Receivable Turnover and Average Collection Period The Andrew Miller Corporation disclosed the following financial information...
Accounts Receivable Turnover and Average Collection Period The Andrew Miller Corporation disclosed the following financial information (in millions) in its recent annual report 2012 2013 Net Sales $157,075 $171,675 Beginning Accounts Receivable (net) 12,895 12,695 Ending Accounts Receivable (net) 12,695 20,697 a. Calculate the accounts receivable turnover ratio for both years. (Round your answer to two decimal points) b. Calculate the average collection period for both years. (Use 365 days for calculation. Round to the nearest whole number.) c. Is...
Green Glassfiber Inc. are producing wings for windmills and has a manufacturing machine that needs attention....
Green Glassfiber Inc. are producing wings for windmills and has a manufacturing machine that needs attention. The company is considering two options. Option A is to refurbish the current machine at a cost of € 10,000,000. If refurbished Green Glassfiber expects the machine to last another 8 years with no residual/scrap value left. Option B is to replace the machine at a cost of € 20,000,000. A new machine would last 10 years with no residual/scrap value left. Green Glassfiber...
Marnus Inc Income Statement For the Financial Year ended Statement values in 000's Period Ending: 12/31/19...
Marnus Inc Income Statement For the Financial Year ended Statement values in 000's Period Ending: 12/31/19 12/31/18 Total Revenue (Net Revenue) $150,000,000 $140,000,000 Cost of Revenue (CoGS) ($130,000,000) ($123,000,000) $20,000,000 $17,000,000 Gross Profit Operating Expenses Sales, General and Admin. $9,000,000 $10,000,000 $0 $0 Other Operating Items Total Operating Exp ($9,000,000) ($10,000,000) $11,000,000 $7,000,000 Operating Income (or loss) Interest Expense ($1,000,000) ($800,000) $10,000,000 $6,200,000 Earnings Before Tax ($4,000,000) ($5,000,000) Income Tax Net Income (or loss) $5,000,000 $2,200,000 12/31/19 12/31/18 Dividends declared...
orange Corp has two divisions. Fruit and flower. The following information for the past year is...
orange Corp has two divisions. Fruit and flower. The
following information for the past year is available for each
division.......
** I know it is a little hard to read my screen. I'm
very sorry. I recently dropped my laptop.
? ezto.mhc a Search Visited my.utrgv.edu ALGEBRA LoginS Search everything Instructions I help CH 10 Qutz Save & Exit Submit Qestion & (of 10) Time remaining: 0:5012 Orange Corp. has two divisions: Fruit and Flower. The following information for the...
The following information is available for Sheffield Corp.: 2022 2021 Accounts receivable $ 361000 $ 350000 Inventory 280000...
The following information is available for Sheffield Corp.: 2022 2021 Accounts receivable $ 361000 $ 350000 Inventory 280000 351000 Net credit sales 2524050 2624000 Cost of goods sold 1819000 874000 Net income 319000 192000 The accounts receivable turnover for 2022 is 7.2 times. 3.6 times. 7.1 times. 7.0 times.
Calculate the ratio of the following:
Marnus Inc Income Statement For the Financial Year ended 12/31/19 $150,000,000 ($130,000,000) $20,000,000 12/31/18 $140,000,000 ($123,000,000) $17,000,000 $9,000,000 $10,000,000 Statement values in 000's Period Ending: Total Revenue (Net Revenue) Cost of Revenue (COGS) Gross Profit Operating Expenses Sales, General and Admin. Other Operating Items Total Operating Exp Operating Income (or loss) Interest Expense Earnings Before Tax Income Tax Net Income (or loss) $0 $0 | ($9,000,000) $11,000,000 ($1,000,000) $10,000,000 ($5,000,000) $5,000,000 ($10,000,000) $7,000,000 ($800,000)...
The Statement of Cash Flows 215 Problem 14 sed balance sheets of the Spartan Inn are as follows: The condensed bala Spartan Inn Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Assets Current Assets: 20X2 Cash $ $ Marketable Securities Accounts Receivable Inventory Total Current Assets Investments Property and Equipment: 30,000 50,000 100,000 20,000 200,000 100,000 40,000 50,000 95,000 25,000 210,000 60,000 500,000 5,000,000 1,000,000 (1,600,000) 4,900,000 $5,200,000 500,000 6,000,000 1,100,000 (2,000,000) 5,600,000 $5,870,000 Land Building Equipment Accumulated Depreciation...
(b) The following financial statement is for the current year. From the past, you know that 10% of fixed-rate mortgages prepay each year. You also estimate that 10% of checkable deposits and 20% of savings accounts are rate sensitive. Assets (RM) 15,000,000 5,500,000 Reserves Securities < 1 year 1 to 2 years >2 years 8,000,000 Residential Mortgages Variables-rate Fixed-rate Liabilities (RM) 1,500,000 Checkable Deposits Money Market 6,000,000 Deposits 8,000,000 Savings Accounts 12,000,000 CDs Variables-rate <1 year 7,000,000 1 to 2...
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Green Glassfiber Inc. are producing wings for windmills and has a manufacturing machine that needs attention. The company is considering two options. Option A is to refurbish the current machine at a cost of € 10,000,000. If refurbished Green Glassfiber expects the machine to last another 8 years with no residual/scrap value left. Option B is to replace the machine at a cost of € 20,000,000. A new machine would last 10 years with no residual/scrap value left. Green Glassfiber...
Marnus Inc Income Statement For the Financial Year ended Statement values in 000's Period Ending: 12/31/19 12/31/18 Total Revenue (Net Revenue) $150,000,000 $140,000,000 Cost of Revenue (CoGS) ($130,000,000) ($123,000,000) $20,000,000 $17,000,000 Gross Profit Operating Expenses Sales, General and Admin. $9,000,000 $10,000,000 $0 $0 Other Operating Items Total Operating Exp ($9,000,000) ($10,000,000) $11,000,000 $7,000,000 Operating Income (or loss) Interest Expense ($1,000,000) ($800,000) $10,000,000 $6,200,000 Earnings Before Tax ($4,000,000) ($5,000,000) Income Tax Net Income (or loss) $5,000,000 $2,200,000 12/31/19 12/31/18 Dividends declared...
orange Corp has two divisions. Fruit and flower. The
following information for the past year is available for each
division.......
** I know it is a little hard to read my screen. I'm
very sorry. I recently dropped my laptop.
? ezto.mhc a Search Visited my.utrgv.edu ALGEBRA LoginS Search everything Instructions I help CH 10 Qutz Save & Exit Submit Qestion & (of 10) Time remaining: 0:5012 Orange Corp. has two divisions: Fruit and Flower. The following information for the...
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