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lord [1]
4 years ago
11

Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANY Balance Sheets December 31 2017 2016 Cash $ 16,350

$ 32,700 Accounts receivable (net) 76,300 65,400 Inventory 65,400 54,500 Plant assets (net) 218,000 196,200 $376,050 $348,800 Accounts payable $ 54,500 $ 65,400 Mortgage payable (15%) 109,000 109,000 Common stock, $10 par 152,600 130,800 Retained earnings 59,950 43,600 $376,050 $348,800 Additional information for 2017: 1. Net income was $34,000. 2. Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $200,600. 4. Net cash provided by operating activities was $59,000. 5. Capital expenditures were $26,400, and cash dividends were $16,500. Compute the following ratios at December 31, 2017. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) (a) Current ratio. :1 (b) Accounts receivable turnover. times (c) Average collection period. days (d) Inventory turnover. times (e) Days in inventory. days (f) Free cash flow. $ Click if you would like to Show Work for this question: Open Show Work
Business
1 answer:
nikdorinn [45]4 years ago
7 0

Answer:

Please see details below:

Explanation:

(a) Current ratio.

Current RATIO  0,97  

(b) Accounts receivable turnover. times

Account Receivables Turnover time  5,03  

(c) Average collection period. days

Average Collection Period  72,5

(d) Inventory turnover. times

Inventory Turnover Times  3,3  

(e) Days in inventory. days

Days in Inventory  109,1  

(f) Free cash flow

Free Cash Flow  $32.600  

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The correct answer is False.

Explanation:

Misleading cost numbers are considered to be higher when their unit allocations and the alternative activity-cost-driver allocations are proportionally different from each other. This means that it corresponds to the contrary to what is detailed in the statement.

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A natural monopoly, such as a local electricity provider, is the result of: i. a firm owning or controlling a key input used in
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4 years ago
During the formation of a business, it is decided that an S-Corporation will be used. Of the following choices, which are key co
irina1246 [14]

Answer:

Protected assets:.

Pass-through taxation:

Tax-favorable characterization of income:

Straightforward transfer of ownership:

Cash method of accounting

Heightened Credibility:

Explanation:

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4 years ago
Upon graduating from UCI, you start a job in finance earning $72,000 per year and decide to buy a home. You can afford to pay no
vovikov84 [41]

Answer:

Maximum size of home loan than can afford is  $209,471

Explanation:

Rate of interest on borrowing = 4%

Per month rate (r) = 4% / 12 = 0.33%  

n = 30*12 = 360 months

Maximum size of home loan than can afford =

= $1000 * PVAF (0.33% , 360)

= $1000 * 209.47135

= $209471.35

= $209,471

Maximum size of home loan than can afford =  $209471

Note: Monthly payment * PVAF( r, n)

PVAF at (0.33% , 360)

PVAF = 209.47135

6 0
4 years ago
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