User Account

All Pages

Calculate the account payable turnover

Assignment Help Financial Accounting
Reference no: EM132776229

The following information is available for Mechanical Engineering, Inc.:

20X5 Sales (all credit) ..........................................................................$4,200,000

Jan. 1, 20X5 Accounts receivable................................................ $810,000

Dec. 31, 20X5 Accounts receivable ............................................. $840,000

20X5 Cost of goods sold ..................................................................$2,550,000

Jan. 1, 20X5 Inventory .......................................................................... $270,000

Dec. 31, 20X5 Inventory .......................................................................$250,000

Jan. 1, 20X5 Accounts payable ................................................... $540,000

Dec. 31, 20X5 Accounts payable ....................................................$560,000

Problem 1: Based on the information provided, calculate the following ratios:

a) Inventory turnover.

b) Average days of sale in inventory.

c) Accounts receivable turnover.

d) Average collection period.

e) Operating cycle.

f) Account payable turnover.

g) Day's payable.

h) Conversion cycle.

Reference no: EM132776229

Questions Cloud

Calculate the enthalpy of formation of ethanol : When ethanol burns in oxygen under standard conditions, carbon dioxide, water and 1368 kJmol-1 of energy are produced.
Define telegraphic speech and give an original example : When do babies first begin to imitate? Is imitation learned through observation or is it biologically preprogrammed? Define telegraphic speech and give.
What is the current price of the firm bonds : Assuming semi-annual payments and a 4.125% yield to maturity, what is the current price of the firm's bonds
Which functional group is it likely to have : An organic molecule with a low molecular mass is found to be very soluble in water and produce hydroxide ions in solution. Which functional group is it likely t
Calculate the account payable turnover : Calculate the Account payable turnover and Average collection period and Accounts receivable turnover and Conversion cycle and Day's payable.
Calculate the contribution margin ratio for each : The manufacturing facility operates at 100% of capacity. Need a contribution margin by product report. Calculate the contribution margin ratio for each
What is the wavelength : What is the wavelength of a 75 kg athlete running a 4.0-minute mile?
What advice or counseling would you provide someone : Access the National Institute of Diabetes and Digestive and Kidney Diseases' "Health Information - Digestive Diseases" database.
Find the final price paid for total amount in coupons : Find the final price paid for Total amount in coupons and rebates. Audrey Patterson purchased a chicken sandwich for $4.59 and a $1.79 drink.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What does the cost of goods sold and gross profit mean

What does the cost of goods sold and gross profit mean? How much gross profit do I make on each hat? Why show both gross profit and net income?

  Changes the contribution rates in the objective function

If one changes the contribution rates in the objective function of an LP:

  Prepare all entries that are necessary on april

Prepare all entries that are necessary on April 3, 2011. Show a check of the amount recorded for the new cutter. Show the calculation of the amount of the gain

  Journal format the allowance for doubtful accounts

Prepare adjusting entries in the journal format the allowance for doubtful accounts should be increased by 1% of total revenue of $35,000 insurance expired during the year total $1,300 signed a 90-day note at 6% for $300,000 shown as notes payable. A..

  As controller of company-determine selling price of bonds

The Windsor Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Windsor has decided to locate a new factory in the Panama City area. As the controller o..

  What fraction of portfolio is invested in apl

If MSFT increases to $60 and APL decreases to $20, what is the return on your portfolio? If inflation rate is 3%. What is real return of this portfolio?

  What is the purpose of the four key accounting concepts

Describe and asses the importance of each those concepts with regards to the interpretations of prepared financial statements.

  Compute dvds net cash provided by operating activities

Compute DVD's net cash provided by (used for) operating activities during July. Use the indirect method. Decide (a) whether Danfield's ability to pay debts and sell inventory improved or deteriorated during 2012.

  What are the financial reporting effects of the decision

As a small family business, the internal affairs and finances of the company were well guarded from the public view by the family.

  Estimate the beta for the private business

Estimate the beta for this private business. It has an average correlation with the market of 0.5 (i.e. 50% of the risk in the private business comes)

  How do prepare an income statement for year ended december

Selling expenses $ 575,000. Income Statement (with cost of goods sold adjustment). prepare an income statement for year ended December 31

  What is this? firm after-tax? wacc

Pfd Company has debt with a yield to maturity of 7.4 % a cost of equity of 12.8 % and a cost of preferred stock of 9.7 %. The market values of its? debt

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd