1 answer

2017 2016 Accounts receivable $18,000 $19,500 Inventory $12,200 $9,000 Fixed assets, net $35,000 $31,000 Accounts payable...

Question:

2017

2016

Accounts receivable

$18,000

$19,500

Inventory

$12,200

$9,000

Fixed assets, net

$35,000

$31,000

Accounts payable

$15,000

$12,000

Net Sales

$157,500

$176,000

Cost of goods sold

$125,900

$137,000

Net income

$52,900

$54,000

# Shares issued

65,000

60,000

# Shares in treasury stock

8,000

20,000

Calculate the following ratios for 2017:

(a) Fixed asset turnover

(b) Inventory turnover

(c) Receivable turnover

(d) Accounts payable turnover

(e) Earning Per Share


Answers

Answer to Question a and b:

Part a Fixed Asset Turnover = Net Sales/Average Net Fixed Assets * 100 Net Sales Opening Net Fixed Assets Closing Net Fixed A

Answer to Question c:

Part c Accounts Receivables Turnover Credit sales/Average Accounts Receivable Net Sales Opening Accounts Receivable Closing A

Answer to Question d:

Part d Accounts Payable Turnover Ratio Total Purchases/Average Accounts Payable Total purchases Cost of goods sold Ending Inv

.

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