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How much are the credit sales for the year

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Reference no: EM132996746

Problem - Consider the following data for the Queen Corporation at the end of 1999.

Cash 35,000 CGS 1,600,000

A/R 91,000 NIAT 166,400

Prepaid rent 4,000 Inventory Turnover = 5 times

Land 90,000 Collection period = 25 days

A/P 105,000 360 days in a year, all sales on credit

Required -

1] Compute for the quick ratio of the company.

2] How much are the credit sales for the year?

3] How much inventory is left at the end of 1999?

4] What is the net profit margin percentage?

5] What is the asset turnover rate?

Reference no: EM132996746

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