Electronic Superstore’s inventory increases during the year by $5 million, and its accounts payable to suppliers increases by $7 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $45 million?

Q: Horton Housewares’ accounts receivable decreased during the year by $5 million. What is the amount…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: April Wood Products’ accounts receivable increased during the year by $4 million. What is the amount…

A:

Q: Purple Fleur S.A., a retailer of fl oral products, reported cost of goods sold for the year of $75…

A: Purchases = Cost of Goods Sold - Decrease in InventoryPurchases = $75 million - $6 millionPurchases…

Q: Ives Corp. has an Inventory period of 21.6 days, an accounts payable period of 34.1 days, and an…

A: Given: Inventory period = 21.6 days Accounts payable period = 34.1 Accounts receivable days = 30.2…

Q: During the year a company’s inventory increased by $6,000,000.  Its accounts payable increased by…

A: When the inventory increases as compared to previous year it comprises of current year purchases. As…

Q: ABC Sportswear Company had accounts receivable of $206,024,000 at the beginning of a recent year,…

A: Cash receipts from customers will be equal to : Accounts receivables at the beginning of the year  +…

Q: GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account…

A: Cash Flow from Operating Activities is part of cash flow statements. It includes Cash flow from…

Q: Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021…

A: Cost of goods sold means that value of opening stock plus purchases minus closing stock.

Q: What is the acid-test ratio?

A: Acid test ratio is a financial ratio that helps an entity to assess if it is able to meet its…

Q: Skylark Industries has P6,000,000 in inventory and P3,000,000 in accounts receivable. The company…

A: Cash flows are the cash generated from the operation of the business organisation. In other words,…

Q: GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account…

A: Cash Outflow - It is the amount paid by the company to its supplier / lenders or other different…

Q: If a firm has sales of $25,689,00 a year, and the average collection period for the industry is 45…

A: We often convert the receivables turnover ratio into days and call it the average collection…

Q: Kraft Inc, a retailer of dairy products, reported cost of goods sold for the year of $75 million.…

A: Calculating cash payment to suppliers: Cost of purchases = Cost of goods sold - Decrease in…

Q: GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account…

A: Cash outflows to inventory suppliers = Cost of goods sold + Inventory account increased + Accounts…

Q: Molino Inc. reported sales revenue of $2 million for 2020. Accounts receivable decreased $200,000…

A: Cash receipts: A purchase proof that is issued when the payment is done by the buyer in cash. It is…

Q: Inmoo Company's average age of accounts receivable is 36 days, the average age of accounts payable…

A: Cash conversion cycle depicts the time required to convert company’s investment in inventory into…

Q: Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021…

A: The question is multiple choice question  Required  Choose the Correct Option.

Q: At​ year-end, StickStick has cash of $ 22 comma 000$22,000​, current accounts receivable of $ 80…

A: Calculate the receivables turnover ratio.

Q: What is the inventory period for a firm with an annual cost of goods sold of P5 million, P1.2…

A: The inventory turnover ratio is a financial ratio that defines the number of times within which…

Q: Ill Company provides the following data for the year 2020:   Cash sales - 500,000; Collection from…

A: The gross sales are calculated as sum of net sales, sales discount and allowance and sales returns.

Q: he Brenmar Sales Company had a gross profit margin​ (gross profits÷​sales) of 34 percent and sales…

A: GIVEN, gross profit margin =34% sales = $8.3 million  credit sale = 79% of sales cash sales = (100…

Q: Winston Inc. is trying to determine the effect of its inventory turnover ratio and days sales…

A: The cash conversion cycle (CCC) refers to metric that expresses the length of time which in days…

Q: Libscomb Technologies' annual sales are $6,615,140 and all sales are made on credit, it purchases…

A: The question is based on the concept of financial ratios

Q: This year, a business bought $10,000,000 worth of products from its suppliers.  Its accounts payable…

A: Definition:   Average payment period: Average payment period indicates the number of days taken y a…

Q: Compute the amount of cash collected from customers.   Compute the amount of cash paid for…

A: Cash flow analysis is important for the business since it allows the business to assess the amount…

Q: Golden Cumulus Corp., a commodities trading company, reported interest expense of $19 million and…

A: Interest Expense = $ 19 million  Less- Increase in interest payable = $ 3 million Interest Paid = $…

Q: The following is Macy's cash flows from 2006 to 2010: Year Cash Flow 2006 $1,406,000,000 2007 $…

A: When initial investment or investment amount is not given in question, we calculate internal rate of…

Q: At year end, Bottle Water Company had currency and coins in cash registers of $5,600, money orders…

A: Cash and cash equivalents = Currency and coins + money orders from customers + deposits in checking…

Q: Rissy Inc. had the following components of working capital last year: Accounts receivable (start:…

A: Net Working Capital (NWC) is the difference between a company’s current assets and current…

Q: Owen’s Electronics has nine operating plants in seven southwestern states. Sales for last year were…

A: According to the percentage of sales method, the accounts in the balance sheet possess a percentage…

Q: Red Road Company, a consulting company, reported total revenues of $100 million, total expenses of…

A:

Q: Knight Roundtable Co. had annual credit sales of $1,080,000 and an average collection period of 32…

A: Accounts receivables are the short term assets to the company. When customer buys goods on credit…

Q: If we know that for the year 2010 Johnson's Company had Cost of goods sold = 600,000 USD and Sales…

A: Given that,  Sales (on credit) = 850,000 USD Opening accounts recievables = 75,000 USD Closing…

Q: Zen Inc., has an average age of accounts receivable is 36 days, the average age of accounts payable…

A: Cash conversion cycle will measure the required time to convert the investments made in inventories…

Q: Libscomb Technologies' annual sales are $5,024,963 and all sales are made on credit, it purchases…

A: Cash cycle = Days inventory outstanding + days sales outstanding - days payable outstanding Days…

Q: Loak Corporation provides the following data for the year 2020: Cash sales 500,000; Collection from…

A: Gross sales are the revenues received by the company entity from the sale of its principal product…

Q: Libscomb Technologies' annual sales are $6,750,624 and all sales are made on credit, it purchases…

A: Receivables Period = 365 / Receivables turnover

Q: GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account…

A: The question says that the balance of inventory is decreased by $40 Million, so if we assume that…

Q: Zocco Corporation has an inventory conversion period of 75 days, an average collection period of 38…

A: Cash conversion cycle is defined as the metric, which used to be expressed in time that are measured…

Q: Video Shack’s accounts receivable decreases during the year by $9 million. What is the amount of…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Provincial​ Imports, Inc., has assembled last​ year's financial statements​ (income statement and…

A: Pro forma income statement : A pro forma income statement is a financial statement that shows a…

Q: The Raattama Corporation had sales of $3.5 million last year, and it earned a 5% return (after…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: The Zocco Corporation has an inventory conversion period of 60 days, an average of collection period…

A: Cash conversion cycle means amount of time taken to convert raw materials or inventory of the…

Q: Libscomb Technologies' annual sales are $5,851,355 and all sales are made on credit, it purchases…

A: Cash Cycle in days = Inventory Holding Period + Accounts receivable collection period - Accounts…

Q: For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of…

A: Inventory  turnover  ratio = cost of goods sold/Average  Inventory