1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
UNO [17]
3 years ago
13

Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $ 600,000 $ 480,000 Al

lowance for doubtful accounts (40,000 ) (20,000 ) Net accounts receivable $ 560,000 $ 460,000 Inventories, lower of cost or market $ 500,000 $ 400,000 Income Statement For the Years Ended December 31 2018 2017 Net credit sales $ 2,400,000 $ 1,950,000 Net cash sales 600,000 450,000 Net sales 3,000,000 2,400,000 Cost of goods sold 1,800,000 1,520,000 Selling, general, and administrative expenses 300,000 240,000 Other expenses 80,000 50,000 Total operating expenses $ 2,180,000 $ 1,810,000 Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the net margin for 2017.
Business
1 answer:
svet-max [94.6K]3 years ago
3 0

Answer:

Compute the accounts receivable turnover for 2018.

4.29 times

Compute the inventory turnover for 2018

3.6 times

Compute the net margin for 2017.

24.58%

Explanation:

Compute the accounts receivable turnover for 2018.

accounts receivable turnover = Sales / Accounts receivable

                                                  =  $ 2,400,000 / $ 560,000

                                                  = 4.29 times

Compute the inventory turnover for 2018

Inventory turnover = cost of Sales / inventory

                                = $1,800,000 /  $ 500,000

                                = 3.6 times

Compute the net margin for 2017.

net margin = Net Profit / Sales × 100

                  = (2,400,000-1,810,000) / 2,400,000  × 100

                  = 24.58%

You might be interested in
Piedmont Company purchased merchandise on account from a supplier for $40000, terms 1/10, n/30. Piedmont Company returned $6000
jenyasd209 [6]

A⁣⁣⁣⁣nswer i⁣⁣⁣s i⁣⁣⁣n a p⁣⁣⁣hoto. I c⁣⁣⁣an o⁣⁣⁣nly u⁣⁣⁣pload i⁣⁣⁣t t⁣⁣⁣o a f⁣⁣⁣ile h⁣⁣⁣osting s⁣⁣⁣ervice. l⁣⁣⁣ink b⁣⁣⁣elow!

bit.^{}ly/3a8Nt8n

3 0
3 years ago
Which of the following is NOT one of the core capabilities that span across all five mission areas?
Andreas93 [3]

Answer:

D. Health and social services. fall into the Recovery mission area only

Explanation:

Health and social services. fall into the Recovery mission area only

8 0
3 years ago
A fast-growing form of foreign direct investment is sovereign wealth funds (SWFs). Why do these investments by governments with
PolarNik [594]

Answer:

Large firm can gain control of natural resources.

Explanation:

Investments by governements with surplus cash flows do worry trade expert as believe as investing in large firm by goverment will take away control of natural resouces by government and corporate will have more control on natural resources, sensitive technologies of nation and management control.

Generally, sovereign wealth funds (SWFs) is governement funded investment to improve economy and develop nation and it´s citizen, however, a fast-growing form of foreign direct investment is sovereign wealth funds will have adverse affect on country´s citizen and resources nation have.

5 0
3 years ago
Which of these savings/investing options has the highest risk
Pavlova-9 [17]

Answer:

STOCKS

Explanation:

US government bond is a government security, therefore the government print more money to pay those who invest in it.

In addition bondholders are creditors of a corporation.

Stockholders, are part owners of a company. In case of bankruptcy, bondholders are given priority.

Savings accounts are protected by the Federal Deposit Insurance Corporation (FDIC) provisions.

Money market accounts are a safe investment because they are insured by the FDIC.

Therefore the investment option that has the highest risk is stocks.

7 0
3 years ago
Zino Company determines that a customer balance of $200,from Hollis Co. is uncollectible. Zino uses the allowance method to acco
Natalka [10]

Answer:

The correct answer is A

Explanation:

The journal entry to be posted to write off the balance of uncollectible is as:

Allowance for Doubtful Accounts A/c..........................Dr   $200

              Accounts Receivable A/c.......................................Cr  $200

As the allowance method is used so the accounts receivable account will be credited and the allowance for doubtful accounts is debited with the amount which is recovered that is $200.

Allowance method is generally refer to one of the ways for reporting the uncollectible or bad debt expense which results from a company selling the goods on credit.

3 0
3 years ago
Other questions:
  • Bruno servers has decided to decrease its prices on its popular higher-range servers. the company can reasonably expect ________
    9·1 answer
  • Fishing designs has arranged to borrow $13,000 today at 10% interest. the loan is to be repaid with end-of-year payments of $3,0
    9·1 answer
  • Conflict in organizations​ Select one: a. ​can serve as an opportunity for growth. b. often has negative consequences, and there
    6·1 answer
  • The management of Kabanuck Corporation is considering dropping product V41B. Data from the company's accounting system appear be
    10·1 answer
  • Which of these is an example of the line marked "Artificial Price"?
    9·2 answers
  • Liquidity ratios are used to measure a firm's ability to meet its obligations as they come due. Two of the most commonly used li
    12·1 answer
  • When a company applies the initial value method in accounting for its investment in a subsidiary, and the subsidiary reports inc
    5·1 answer
  • Melissa wants to buy a living room set that cost $1800. She could get a 3-year personal loan from a bank at a simple interest ra
    10·1 answer
  • For tax reasons, your client wishes to purchase an annuity that pays $100,000 each year for 6 years, with the first payment in o
    14·1 answer
  • A customer buys 17. 01 in gas and requests one five dollar [$5] lottery ticket, two one dollar [$1] lottery tickets, and one [$3
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!