The following information is available for Cheyenne Corp.: 2022 2021 Accounts receivable $ 373000 $ 346000 Inventory 287000 357000 Net credit sales 2911950 2621000 Cost of goods sold 1804000 861000 Net income 309000 176000 The accounts receivable turnover for 2022 is
The following information is available for Cheyenne Corp.: 2022 2021 Accounts receivable $ 373000 $ 346000 Inventory 287000 357000 Net credit sales 2911950 2621000 Cost of goods sold 1804000 861000 Net income 309000 176000 The accounts receivable turnover for 2022 is
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 26MC: A customer returns $690 worth of merchandise and receives a full refund. What accounts recognize...
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The following information is available for Cheyenne Corp.:
2022 |
2021 |
|
---|---|---|
|
$ 373000 |
$ 346000 |
Inventory |
287000 |
357000 |
Net credit sales |
2911950 |
2621000 |
Cost of goods sold |
1804000 |
861000 |
Net income |
309000 |
176000 |
The accounts receivable turnover for 2022 is
If Year 1 cost of goods sold equals $760, Year 2 cost of goods sold equals $820, and Year 3 cost of goods sold equals $580, the percentage to be assigned for Year 1 in a trend analysis, assuming that Year 1 is the base year, is
If Year 1 sales equal $750, Year 2 sales equal $1500, and Year 3 sales equal $930, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is
answer these three subparts
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