Reference no: EM133106825
Questions -
Q1. Mike, Inc., had the following transactions during the month of March:
1. Sold merchandise for $60 000 cash
2. Paid wages of $8000
3. Sold equipment for $20 000 on credit
4. Paid $7000 cash for utilities
What was the cash flow from operating activities?
Q2. Chemist Pty's beginning balance of inventory is $16 000; the ending balance is $30 000; credit sales for the period are $420 000; and cost of sales are $380 000. Calculate Chemist Pty's days inventory.
Q3. If sales revenue is $600 000 and cost of sales is $450 000, what is the gross profit margin?
Q4. Auto Ltd. manufactures different models of automobiles. The following is the budgeted volume sold for a specific model each month:
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January
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February
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March
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April
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May
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June
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Budgeted total car sales
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4,140
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4,450
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6,010
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4,150
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6,280
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7,990
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Each car is sold at $25,000. 60% of sales during the month are paid in cash and the remaining is collected in the following month.
What is the total cash collection in April (in '000)?
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Report based on standards for forensic investigation
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How long will it be before you have enough to buy the car
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Calculate chemist pty days inventory
: The ending balance is $30 000; credit sales for the period are $420 000; and cost of sales are $380 000. Calculate Chemist Pty's days inventory
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