I was successful with finding the totals for all the other answers but I cant figure the last two out. I know that I need to use average inventory but there is not beginning and ending inventory. Compute the following ratios at December 31, 2021: (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 52.7.)(a)(b)(d)Current ratio(c) Average collection period(e)Accounts receivable turnoverInventory turnoverDays in inventory2.85.369:1timesdaystimesdays CashAccounts receivable (net)InventoryProperty, plant and equipment (net)Accounts payableMortgage payable (15%, due in 15 years)Common stock, $10 parRetained earningsAdditional information for 2021:1.2.3.4.2021$40,20086,00081,000206,000413,20074,000121,000161,00057,200413,2002020$30,00081,00071,000201,000383,00081,000121,000141,00040,000383,000Net income was $46,000.Sales on account were $471,000. Sales returns and allowances amounted to $28,450.Cost of goods sold was $364,800.Net cash provided by operating activities was $70,000.

In accounting, the inventory turnover is a measure of the number of times inventory is sold or used…

Compute the following ratios at December 31, 2021: (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 52.7.) (a) (b) (d) Current ratio (c) Average collection period (e) Accounts receivable turnover Inventory turnover Days in inventory 2.8 5.3 69 :1 times days times days

Compute the following ratios at December 31, 2021: (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 52.7.) (a) (b) (d) Current ratio (c) Average collection period (e) Accounts receivable turnover Inventory turnover Days in inventory 2.8 5.3 69 :1 times days times days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Seminole Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio $ Seminole's quick (acid-test) ratio is considered fairly weak. (b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Accounts receivable turnover = + Days' sales outstanding Seminole's days'…
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Category Prior Year Current Year Accounts payable ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional paid in capital 500,000 541,650 Cash 17,500 47,500 Common Stock 94,000 105,000 COGS 328,500 431,516.41 Current portion long-term debt 33,750 35,000 Depreciation expense 54,000 55,946.66 Interest expense 40,500 41,874.31 Inventories 279,000 288,000 Long-term debt 336,467.85 401,942.46 Net fixed assets 946,535 999,000 Notes payable 148,500 162,000 Operating expenses (excl. depr.) 126,000 161,499.58 Retained earnings 306,000 342,000 Sales 639,000 854,554.01 Taxes 24,750 48,384.56 ??? What is the current year's return on equity (ROE)? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign re rounded to 4 decimal places (ex: 0.0924))
Ratio Analysis Consider the following information taken from GER's financial statements: September 30(in thousands) 2020 2019 Current assets: Cash and cash equivalents $1,274 $6,450 Receivables 30,071 16,548 Inventories 31,796 14,072 Other current assets 4,818 2,620 Total current assets $67,959 $39,690 Current liabilities: Current portion of long-term debt $97 $3,530 Accounts payable 23,124 11,228 Accrued compensation costs 5,606 1,929 Accrued expenses 9,108 5,054 Other current liabilities 874 777 Total current liabilities $38,809 $22,518 Also, GER's operating cash flows were $11,255 and $13,736 in 2020 and 2019, respectively. 4. Calculate the operating cash flow ratios for 2020 and 2019. Operating Cash Flow Ratio 2020 fill in the blank 7 2019 fill in the blank 8
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Category Prior Year Current Year Accounts payable 3,147.00 5,976.00 Accounts receivable 6,925.00 8,910.00 Accruals 5,635.00 6,187.00 Additional paid in capital 19,527.00 13,950.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,974.00 18,270.00 Current portion long-term debt 500 500 Depreciation expense 975.00 976.00 Interest expense 1,278.00 1,155.00 Inventories 3,048.00 6,717.00 Long-term debt 16,569.00 22,919.00 Net fixed assets 75,968.00 73,882.00 Notes payable 4,045.00 6,584.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,870.00 34,759.00 Sales 46,360 45,347.00 Taxes 350 920 What is the firm's cash flow from operations? What is the firm's dividend payment in the current year? What is the firm's net income in the current year?
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Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items (rounding percent to nearest hundredth): LU 16-1(2) 2022 (dollars in millions) $ 15,980 Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 9,222 13,642 - $103,249 2021 (dollars in millions) $ 15,499 16,148 14,324 1,278 $144.603 Difference % CHG
Cash Short-term investments Receivables (net) Inventory Total current liabilities (a) December 31, 2020 $40,400 20,300 113,375 78,070 105,500 Current ratio December 31, 2019 $32,700 18,400 During 2020, net sales were $1,441,125, and cost of goods sold was $1,091,775. :1 92,500 67,500 91,500 Compute the current ratio at December 31, 2020. (Round answer to 2 decimal places, e.g. 15.25.)
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