Blog

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $541,138 Cost of goods sold during year 159,608 Accounts receivable, beginning of year 43,792 Accounts receivable, end of year 47,825 Inventory, beginning of year 39,653 Inventory, end of year 42,124 Do not round interim calculations. Round your final answer to one decimal place.

Assume the following sales data for a company: Current year $1,025,000 Preceding year 820,000 What is the percentage increase in sales from the preceding year to the current year?

Based on the following data for the current year, what is the number of days’ sales in receivables? Sales on account during year $584,000 Cost of goods sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000

The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company   Year 2 Year 1 Total current assets $616,669 $579,794 Total investments 63,792 46,986 Total property, plant, and equipment 909,794 614,515 Total current liabilities 108,711 85,130 Total long-term liabilities 323,415 240,699 Preferred 9% stock, $100 par 95,913 95,913 Common stock, $10 par 595,194 595,194 Paid-in capital in excess of par-common stock 63,384 63,384 Retained earnings 403,638 160,975 Using the balance sheets for Kellman Company, if net income is $114,130 and interest expense is $34,650 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?

Which of the following graphs in Figure 1 illustrates the behavior of a total variable cost?

Which of the following would not be classified as an operating activity?

Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credit(s) are made to:

In which section of the financial statements would Paid-In Capital from Sale of Treasury Stock be reported?

Based on the following data, what is the accounts receivable turnover? Sales on account during year $700,000 Cost of goods sold during year 270,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000

The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company   Year 2 Year 1 Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant, and equipment 900,000 700,000 Total current liabilities 125,000 65,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, $100 par 100,000 100,000 Common stock, $10 par 600,000 600,000 Paid-in capital in excess of par—Common stock 75,000 75,000 Retained earnings 310,000 210,000 Using the balance sheets for Kellman Company, if net income is $150,000 and interest expense is $20,000 for Year 2, what is the return on stockholders’ equity for Year 2?