Compute the cash collections from customers.

Question

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Answer 1

Question

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

b.

To determine

Compute the amount of cash payment for inventory.

c.

To determine

Compute the amount of cash payment of other operating expenses.

d.

To determine

Compute the acquisition of property and equipment.

e.

To determine

Compute the amount of borrowings

f.

To determine

Compute the cash receipt from issuance of common stock

g.

To determine

Compute the payment of cash dividends.

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(Learning Objective 7: Calculate return on assets) Hometown Supply Companyreported the following information in its comparative financial statements for the fiscal yearended January 31, 2018:January 31,2018January 31,2017Net sales....................................Net earnings..............................Average total assets...................$84,000$ 4,200$70,000$82,600$ 4,050$69,450Requirements1. Compute the net profit margin ratio for the years ended January 31, 2018, and 2017. Did itimprove or worsen in 2018?2. Compute asset turnover for the years ended January 31, 2018, and 2017. Did it improve orworsen in 2018?3. Compute return on assets for the years ended January 31, 2018, and 2017. Did it improveor worsen in 2018? Which component—net profit margin ratio or asset turnover—wasmostly responsible for the change in the company’s return on assets?

(Learning Objective 7: Calculate return on assets) Handley Grocery Corporationreported the following information in its comparative financial statements for the fiscal yearended January 31, 2018:January 31,2018January 31,2017Net sales....................................Net earnings..............................Average total assets...................$50,000$ 2,200$40,000$48,350$ 2,100$39,300Requirements1. Compute the net profit margin ratio for the years ended January 31, 2018, and 2017. Did itimprove or worsen in 2018?2. Compute asset turnover for the years ended January 31, 2018, and 2017. Did it improve orworsen in 2018?3. Compute return on assets for the years ended January 31, 2018, and 2017. Did it improveor worsen in 2018? Which component—net profit margin ratio or asset turnover—wasmostly responsible for the change in the company’s return on assets?

(Learning Objective 2: Calculate purchases by analyzing inventory account activity)On Willow Grove Department Stores’ most recent balance sheet, the balance of its inventory at the beginning of the year was $12,000. At the end of the year, the inventory balancewas $14,500. During that year, its cost of goods sold was $55,000. All purchases of inventorythroughout the year were on account. What was the total of Willow Grove’s purchases duringthe year?

Answer 2

Question

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

b.

To determine

Compute the amount of cash payment for inventory.

c.

To determine

Compute the amount of cash payment of other operating expenses.

d.

To determine

Compute the acquisition of property and equipment.

e.

To determine

Compute the amount of borrowings

f.

To determine

Compute the cash receipt from issuance of common stock

g.

To determine

Compute the payment of cash dividends.

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Answer 3

Question

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

b.

To determine

Compute the amount of cash payment for inventory.

c.

To determine

Compute the amount of cash payment of other operating expenses.

d.

To determine

Compute the acquisition of property and equipment.

e.

To determine

Compute the amount of borrowings

f.

To determine

Compute the cash receipt from issuance of common stock

g.

To determine

Compute the payment of cash dividends.

Expert Solution & Answer

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Answer 4

Question

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

b.

To determine

Compute the amount of cash payment for inventory.

c.

To determine

Compute the amount of cash payment of other operating expenses.

d.

To determine

Compute the acquisition of property and equipment.

e.

To determine

Compute the amount of borrowings

f.

To determine

Compute the cash receipt from issuance of common stock

g.

To determine

Compute the payment of cash dividends.

Expert Solution & Answer

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Answer 5

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

b.

To determine

Compute the amount of cash payment for inventory.

c.

To determine

Compute the amount of cash payment of other operating expenses.

d.

To determine

Compute the acquisition of property and equipment.

e.

To determine

Compute the amount of borrowings

f.

To determine

Compute the cash receipt from issuance of common stock

g.

To determine

Compute the payment of cash dividends.

Answer 6

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

Answer 7

Chapter 11, Problem 21AE

a.

To determine

Compute the cash collections from customers.

Answer 8

b.

To determine

Compute the amount of cash payment for inventory.

Answer 9

b.

To determine

Compute the amount of cash payment for inventory.

Answer 10

c.

To determine

Compute the amount of cash payment of other operating expenses.

Answer 11

c.

To determine

Compute the amount of cash payment of other operating expenses.

Answer 12

d.

To determine

Compute the acquisition of property and equipment.

Answer 13

d.

To determine

Compute the acquisition of property and equipment.

Answer 14

e.

To determine

Compute the amount of borrowings

Answer 15

e.

To determine

Compute the amount of borrowings

Answer 16

f.

To determine

Compute the cash receipt from issuance of common stock

Answer 17

f.

To determine

Compute the cash receipt from issuance of common stock

Answer 18

g.

To determine

Compute the payment of cash dividends.

Answer 19

g.

To determine

Compute the payment of cash dividends.

Answer 20

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Answer 21

Expert Solution & Answer

Answer 22

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Answer 23

Ch. 11 - Prob. 1DQ Ch. 11 - Prob. 2DQ Ch. 11 - Prob. 3DQ Ch. 11 - A company issued bonds during the year. Would this...Ch. 11 - Prob. 5DQ Ch. 11 - When using the indirect method, why are gains on...Ch. 11 - Prob. 7DQ Ch. 11 - Prob. 8DQ Ch. 11 - Prob. 9DQ Ch. 11 - Prob. 10DQ

Compute the cash collections from customers.

Solution Summary: The author calculates the cash collections from customers and accounts receivables. They also calculate the amount of cash payments for inventory.

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Compute the cash collections from customers.

Compute the amount of cash payment for inventory.

Compute the amount of cash payment of other operating expenses.

Compute the acquisition of property and equipment.

Compute the amount of borrowings

Compute the cash receipt from issuance of common stock

Compute the payment of cash dividends.

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Chapter 11 Solutions