Libscomb Technologies' annual sales are $6,879,896 and all sales are made on credit, it purchases $3,179,857 of materials each year (and this is its cost of goods sold).  Libscomb also has $565,311 of inventory, $545,421 of accounts receivable, and $422,365 of accounts payable.  Assume a 365 day year.   What is Libscomb’s Operating Cycle (in days)?

Q: Sales increase Pierce Furnishings generated $2 million in sales during 2015, and it's year-end total…

A: Given information: Sales (S0) in 2015 is $2 million, Total assets (A0) were $1.5 million, Total…

Q: 18) Berman & Jaccor Corporation's current sales and partial balance sheet are shown below.…

A: Formula snip:

Q: Alta Construction days sales outstanding is 50 days (365 days in a year). The company’s accounts…

A: Financial ratios give us an idea about the financial performance of the company. Inventory turn over…

Q: SALES INCREASE Pierce Furnishings generated $2 million in sales during 2015, and its year-end total…

A: Current sales= $2million Asset= $1.5 million Current Liabilities= $500,000 ($2,00,000 Notes Payable,…

Q: The Winters Co. has annual sales of £918,700. Cost of goods sold is 55 percent of annual sales and…

A: A supplier is someone or a company that sells or provides a service to some other company.. In a…

Q: + Q&A Library This year, the company's sales has increas 13 This year, the company's sales has…

A: company uses operating leverage in order to calculate the break even point and it also help for the…

Q: A company has $20 million of inventory, $5 million of receivables,and $4 million of payables. Its…

A: Inventory = 20 million Account Receivable = 5 million  Account payable = 4 million sale  = 80…

Q: Question Three  FLG Co has annual credit sales of $4·2 million and cost of sales of $1·89 million.…

A: In the given question :- 1) FLG Co has annual credit sales of $4·2 million and cost of sales of…

Q: The following information has been taken from the accounting records of  Ahmed and Company in first…

A: Contribution margin / Profit volume ratio = Change in Profit / Change in Sales = ($25,000-$15,000) /…

Q: Problem Solving. Raymar Alison Trading has the following transactions during the fiscal year 2021.…

A: The formula for calculating the return of net income is     Net income / total sales × 100

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: Ricardo Entertainment recently reported the following income statement: Sales 15,000,000 Cost of…

A: Solution- 1-Net income                        = 3600000 ADD increase 360000 * 20%   =720000…

Q: Consider a firm with a 2010 revenue of S60 million and cost of goods sold of $25 million lf the…

A: Weeks of supply = ( Average inventory / Cost of goods sold ) * 52 weeks

Q: 92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000…

A: 92. Average Days of Inventory = 365 x Average Inventory / Cost of Goods Sold Average Inventory =…

Q: Tulips Company has a DSO of 40 days, and its annual sales are P7,300,000. What is its accounts…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Viper Construction’s days sales outstanding is 50 days (on a 365-day basis). The company’s accounts…

A: Inventory turnover ratio = Sales  / average inventory Day's Sales outstanding = 50 days  Day's Sales…

Q: Problem 1. Odette Electronics has 90 operating plants in seven southwestern states. Sales for last…

A: Here, we have to determine the cash flow and future need with relates to financial for same we use…

Q: Payton Inc. reports in its Year 7 annual report, sales of $7,362 million and cost of goods sold of…

A: Given sales = $7,362 million Increase of sales = 3% Cost of goods sold = $2,945 million Cost of…

Q: Q2. A company wants to get its working capital calculated by you. You are given the following…

A: Net Working capital refers to a financial concept which reflects the liquidity of an organization in…

Q: Year one income statement by months ( sales by year 3 $2.7m 2.7 m /3 = $900,000 average each year…

A: Total expenses = Costs of goods sold + Depreciation (Capital expenses), Location expenses,…

Q: Considering this example as a retail company $23.22 Billion Net Revenue Costs of Goods Sold $29.38…

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

Q: Current Attempt in Progress Hoyt Company provides this information for the month of November, 2022:…

A: 3) Total sales = Cash sales + Credit sales            = 70,000 + 170,000            = 240,000

Q: Sales $2,100 (50% of average assets)ª Costs 1,050 (50% of sales) Interest 20 (38 of debt at start of…

A: Income statement is also called profit or loss a/c. Income statement shows the performance of the…

Q: Fires Inc. has a cash conversion cycle of 3 weeks. It has a receivable turnover of 45 and disburse…

A: Return on assets indicates the firm's profitability on total assets. It can be calculated by…

Q: First question/ you have the following data about Basra Trading Company for its first year ending on…

A: Financial Statements are the end products of the accounting process. They provide information about…

Q: Week13 Unit 11 Additional questions Question 1 Shown below are selected financial data for AB and XY…

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

Q: Viper Construction’s days sales outstanding is 50 days (on a 365-day basis). The company’s accounts…

A: Sales:- A sales is defined as the transaction between the customer and seller, in which commodity is…

Q: Torrid Romance Publishers has total receivables of $2,880, which represents 20 days’ sales. Total…

A: Asset turnover ratio is an indicator of how well the company is generating sales by using its…

Q: 18. San Miguel Corp. has just ended the calendar year making a sale in the amount of P10,000 of…

A: 18. Here, Sale on credit is 10,000 Purchases cost is 7000 Profit = Sale - Purchases Profit = 10,000…

Q: BTS Co. reported profit after tax of ₱420,000. BT21’s income tax rate is 30%. Operating expenses for…

A: Solution: Profit after tax = P420,000 Profit before tax  =PAT / (1-tax rate) = P420,000 / (1-0.30) =…

Q: Encore Construction days sales outstanding is 50 days (365 days in a year). The company’s accounts…

A: Inventory Turnover Ratio is an activity ratio which defines the number of times a corporation is…

Q: 5. If a firm's cost of goods sold is $5 million and its inventory turnover is ten times, what is the…

A: Inventory turnover Ratio: It is a measure of the number of times inventory is sold in a year and is…

Q: 3. The current assets of Mayon Enterprise consists of cash, accounts receivable, and inventory. The…

A: Cost of goods sold is the amount of cost for the goods which are sold. It shows the cost for making…

Q: Libscomb Technologies' annual sales are $5,153,262 and all sales are made on credit, it purchases…

A: Inventory Turnover calculates the number of times a company sells its inventory in a year.

Q: A Firm reported year-end cost of goods sold of $10 million. It listed $2 million of inventory on its…

A: Days in inventory measures the number of days the inventory stays on the premises of the firm.

Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of…

A: The ratio analysis helps to analyze the financial statements of the business. The times interest…

Q: Question 21 A firm has accounts receivables of R352 476, sales just ended of R3 050 291. What is the…

A: Basic Accounting equation is:   Assets  = Equity  + Liabilities

Q: Torrid Romance Publishers has total receivables of $2,800, which represents 20 days' sales. Total…

A: A ratio that provides information regarding the efficient use of a company’s total asset is term as…

Q: 16. WASHY PALE Co. has the following information on December 31, 20x1: - Cost of sales is P260,000.…

A: Net profit is the total income earned by the company during an accounting year after deducting all…

Q: ABC Company Limited has an inventory conversion period of 45 days, an accounts receivable collection…

A: Information provided in question :- Number of days = 360 days in a year  Inventory conversion period…

Q: Libscomb Technologies' annual sales are $5,433,041 and all sales are made on credit, it purchases…

A: Inventory turnover ratio: Inventory turnover ratio is the relationship between the cost of goods…

Q: A firm has $200 million annual sales, $180 million costs of goodssold, $40 million of inventory, and…

A: Information Provided: Annual sales = $200 million COGS = $180 million Inventory = $40 million…

Q: Torrid Romance Publishers has total receivables of $3,040, which represents 20 days’ sales. Total…

A: given, total receivables = $3040 DSO = 20 DAYS total asset = 73000 operating profit = 5%

Q: A Company shows the following balances on its comparative fınancial statements: 2021 2020 Inventory…

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

Q: stion 8 Golden Corporation have the following information from its books: Sales P1,600,000 Credit…

A: The average days sales tells about the number of days taken to convert inventory into sales. Average…