Libscomb Technologies' annual sales are $6,615,140 and all sales are made on credit, it purchases $4,071,988 of materials each year (and this is its cost of goods sold).  Libscomb also has $553,442 of inventory, $521,646 of accounts receivable, and beginning and ending of year $448,048 and $420,069 accounts payables (respectively).  Assume a 365 day year.     What is Libscomb’s Cash Cycle (in days)?

Q: Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: For the past year, Hawkeye, Inc., had a cost of goods sold of $63,882. At the end of the year, the…

A: Accounts payable turnover in days is used to signify how long it takes a company to clear its…

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: Langston’s purchased $3,100 of merchandise during the month, and its monthly income statement shows…

A: We know that cost of goods sold is  Opening stock + Purchases - Closing stock = Cost of goods sold…

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: Markle's Inc. had the following transactions during the year: total sales = $610,000; sales…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: Heritage Farms has sales of $1.62 million with costs of goods sold equal to 78 percent of sales. The…

A: CCC is number of days in which company should have recover cash form inventories and receivables and…

Q: Kelly’s Jewelry has the following transactions during the year: total jewelry sales = $750,000;…

A: Formula to calculate net sales: Net sales = Sales - sales discount - sales returns - sales…

Q: The up towner has sales of $913,400 costs of goods sold of $579,300 inventory of $123,900 and…

A: days the firm takes to sell its inventory assuming that all sales are on credit = Inventory Days =…

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: Industria del Norte has receivable accounts of $ 42,300, inventory of $ 61,200, sales of $ 544,200,…

A: The number of days to sell all inventory can be ascertained by using the days sales of inventory…

Q: Zarruk Construction's DSO is 50 days (on a 365-day basis), accounts receivable are $100 million, and…

A: Given information: Company’s DSO is 50 days, Number of days in a year is 365 days, Accounts…

Q: Flyer Company has provided the following information • Cash sales, $325,000 • Credit sales, $850.000…

A: Gross Profit is excess of Net Revenue over cost of manufacturing including all direct costs whereas…

Q: For the past year, Hawkeye, Inc., had a cost of goods sold of $68,382. At the end of the year, the…

A: The average number of days that takes by the corporation to pay back its accounts payable is…

Q: accounts receivable balance

A: SOLUTION:- Receivables Period      = 46             Credit sales = $5,840,000…

Q: Zane Corporation has an inventory conversion period of 64 days,an average collection period of 28…

A:

Q: The National Co. has an inventory conversion period of 60 days, a receivable conversion period of 35…

A: Solution Working note - Average daily sales = 3375000 / 360 = 9,375.

Q: what is the operating cycle

A: Answer:   104.42 days

Q: Elephant, Inc.'s cost of goods sold for the year is $1,900,000, and the average merchandise…

A: The question is related to Ratio Analysis. The details are  Average Inventory = $ 132000 Cost of…

Q: For its most recent year a company had Sales (all on credit) of $850,000 and Cost of Goods Soid of…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: ABC Industries has accounts receivable of $700, inventory of $1,200, sales of $4,200, and cost of…

A: Ratio is a tool which is used to measure the growth and performance of the firm by establishing the…

Q: For a recent year, Best Buy reported sales of $40,339 million. Its gross profit was $9,047 million.…

A: Cost of merchandise sold indicates the costs involved for the inventory sold by the business in a…

Q: Hanggang Dito Na Lang Company reported the following information for the current year: Sales…

A: Gross margin = sales - cost of goods sold Income from continuing operations = Gross margin -…

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: Falafel Hut has sales of $512,630. The cost of goods sold is equal to 60 percent of sales. The…

A: The accounts receivable are the current assets of the company. The increase in the credit sales or…

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

A: Days of account receivables helps to understand how many days are required by the firm to clear its…

Q: The Lux Co. has an inventory conversion period of 60 days, a receivable conversion period of 35…

A: The answer is stated below:

Q: Baxley Brothers has a DSO of 23 days, and its annual salesare $3,650,000. What is its accounts…

A: Day sales outstanding=23 daysAnnual sales=$3,650,000Days per year=365 days

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: Western Beef Department Store had net credit sales of $18,000,000 and cost of goods sold of…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Kebi Corp is a vat-registered dealer of appliances. The following data are for the last quarter of…

A: In this problem there is no mention of country of Kebi Corp nor…

Q: Libscomb Technologies' annual sales are $6,974,991 and all sales are made on credit, it purchases…

A: inventory turnover formula: inventory turnover =cogsinventory given, COGS = $3511,535 inventory =…

Q: Angel Department Store had net credit sales of P12,000,000 and cost of goods sold of P8,000,000 for…

A: Inventory turnover ratio is the number of times a company uses the investor available in a year, it…

Q: Prepare the above general journal entries:

A:

Q: ABC company's records included the following, assume 365 days in a year: Accounts Receivable,…

A: Given, Cost of sales during 2020 = 5,950,000 Merchandise inventory, 12/31/20 = 900,000 Merchandise…

Q: Heritage, Inc., had a cost of goods sold of $44,721. At the end of the year, the accounts payable…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: Compute for the cash conversion cycle.

A: Cash conversion cycle refers to the time period taken a business entity in order to convert its…

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

A: Given the following information: Credit sales: $830,000 Cost of goods sold: $525,000 Beginning…

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: Thornton Universal Sales' cost of goods sold (COGS) average $2,000,000 per month, and it keeps…

A: inventory conversion period can be calculated by dividing 365 by inventory turnover ratio.

Q: The current assets of Teresita Enterprise consist of cash, accounts receivable, and inventory. The…

A: The inventory turnover ratio is calculated as cost of goods sold divided by average inventory.

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

Q: Libscomb Technologies' annual sales are $6,997,444 and all sales are made on credit, it purchases…

A: Receivables turnover = Net credit sales / Average Receivables

Q: Ben Corp has the following annual information: Receivable days assumption = 55 days Payable days…

A: Forecast of account receivables formula: Revenue which was forecasted * (Receivables in days / 365…

Q: Libscomb Technologies' annual sales are $5,790,872 and all sales are made on credit, it purchases…

A: Given that, annual sales =  $5,790,872 purchases(cost of goods sold) = $3,221,342   inventory =…