How often did franklin aerospace sell and replace inventory

Assignment Help Accounting Basics
Reference no: EM132835940

Problem 1: Franklin Aerospace has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current assets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $200,000 in the most recent annual report.
Over the past year, how often did Franklin Aerospace sell and replace its inventory?

Reference no: EM132835940

Questions Cloud

What is the future value of the annuity at ten years : What is the future value of the annuity at 10 years? An investor is offered an annuity (X) that pays out $1000 a year for the next 10 years
What is the adjusting journal entry at December : Wolverine purchases a one year property insurance policy on July 1, 2020, for $13,200. What is the adjusting journal entry at December
Define the two kinds of relationships : -Define the two kinds of relationships that can occur between a leader and followers under Leader-Member Exchange Theory.?
Determine the criteria used to evaluate the credibility : Write a reflection about teaching and learning that has been on your heart and/or mind. Freely express your thoughts and questions regarding this topic.
How often did franklin aerospace sell and replace inventory : Company reported annual sales of $200,000 in the most recent annual report. Over the past year, how often did Franklin Aerospace sell and replace its inventory?
Discuss the essential features of modern organization : This can be done by the growth of the modern organization. Discuss some of the essential features of modern organization.
Find how can sap processes decrease chance of type of fraud : For this fraud scheme to work, who at GBI has to take part? How can SAP processes decrease the chance of this type of fraud?
Compute the volume in units and the dollar sales : Compute the volume in units and the dollar sales level necessary to maintain the present profit level, assuming the maximum price increase is implemented
Describe how you have or will implement the strategies : Summarize and describe how you have or will implement the strategies in Unit C, Part 1 (Chapters 10 -13) of your textbook using the format previously provided.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is happening to the Cash account

As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. What is happening to the Cash account

  Calculate the number of grade i and grade ii

Volume for the first five months of the current year totaled $600,000, Calculate number of Grade I and II cabinets that must sold for Artistic to break even

  What is a limited liability company

What is a limited liability company? A limited Liability company (LLC) is a form of legal entity that provides limited liability to its owner

  Payment cycle and the conversion cycle

Explain the most likely points of integration between the acquisition/payment cycle and the conversion cycle business process level models.

  What is the maximum depreciation expense deduction

What is the maximum depreciation expense deduction for Year 2 (2017) for a passenger automobile, used 100 percent for qualified business use.

  What is the total manufacturing cost of job

Capable Carts manufactures custom carts for a variety of uses. What is the total manufacturing cost of Job 892 using normal costing

  What are the signs that a company is insolvent

What are the signs that a company is insolvent, and what actions and proactivity is required of the directors in these circumstances

  Assume that x company has decided to switch to an

assume that x company has decided to switch to an activity-based costing allocation system. it has identified three

  Who is taxed on the trust year income

Olinto expressly retained the power to revoke both the income interest and the remainder interest at any time. Who is taxed on the trust's year 1 income

  How much of a monthly mortgage bryan and jane can afford

Find out how much of a monthly mortgage Bryan and Jane can afford. Bryan and his wife, Jane, both work and have a combined gross income

  What would be the total amount of ending inventory

If the company uses the total inventory-level of LCNRV, what would be the total amount of ending inventory for these two products

  Compute the annual depreciation charges

Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods

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!

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