Selected financial statement data for Grayson Ltd are presented below. For the year, net sales were $3894
Question:
Selected financial statement data for Grayson Ltd are presented below.
For the year, net sales were $3894 million, cost of sales was $2600 million, and cash from operations was $215 million.
Required
Calculate the current ratio, quick ratio, current cash debt coverage, receivables turnover, average collection period, inventory turnover, and average days in inventory.
Cash and cash equivalents Receivables (net) Inventory Prepaid expenses Total current assets Total current liabilities End of year ($m) $ 33 378 628 61 $1100 $ 690 Beginning of year ($m) $ 91 271 586 52 $1000 $ 627
Step by Step Answer:
1Current ratio Total current assets Total current liabilities 1100 ...View the full answer
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
Related Video
Days sales outstanding (DSO) is a measure of the average number of days that it takes a company to collect payment for a sale. DSO is often determined on a monthly, quarterly, or annual basis. To compute DSO, divide the average accounts receivable during a given period by the total value of credit sales during the same period and multiply the result by the number of days in the period being measured.
Students also viewed these Business questions
-
Below are recent financial statement data for the following companies: ¢ Omniture ¢ Coca-Cola ¢ ExxonMobil ¢ Microsoft Use the financial statement data to match each company with...
-
Selected financial statement data for Schmitzer Inc. is shown below: What was the amount of net sales for2011? 2011 2010 Balance sheet nventories Ratio Gross profit ratio for 2011 Inventory turnover...
-
Selected financial statement data for Schmitzer Inc. is shown below: __________________________________________ 2018 _____________2017 Balance sheet:...
-
Digital Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Instructions What amount should be reported on Digital Camera...
-
What is the basis for a futures contract? What happens to the basis on the delivery date?
-
You are given the following set of data: Construct a scatter diagram showing the relationship between returns on Stock Y and the market. Use a spreadsheet or a calculator with a linear regression...
-
Distinguish between a liability and an environmental liability. Is there any difference, in principle, between the recognition criteria for normal and environmental liabilities in conventional...
-
CVP analysis (CMA, adapted) Galaxy Disks projected operating income for 2008 is $200,000, based on a sales volume of 200,000 units. Galaxy sells disks for $16 each. Variable costs consist of the $10...
-
Referring back to the Texas Department of Insurance data on closed claims for medical malpractice liability insurance presented in Problem 5, we wish to see if medical malpractice was more risky to...
-
Contrast the approaches of Charles Darwin and Gregor Mendel to the study of populations. What were Darwin's main discoveries? What were Mendel's main discoveries? How did the studies of Darwin and...
-
Global Ltd had the following transactions involving current assets and current liabilities during February 2016. Additional information: 1. As of 1 February 2016, current assets were $200 000 and...
-
Presented below is a simplified statement of cash flows for Calgary Ltd. Additional information: 1. Sales were $608 000. 2. Current liabilities were $202 800 in 2017 and $203 500 in 2016. 3. Total...
-
Karla is a single parent with two children, ages 7 and 11. She is a full-time student and earns $ 12,000. Both children receive dividends and capital gains from mutual funds acquired for them by...
-
A jet airplane with a 62.0 m wingspan is flying at 272 m/s. What emf is induced between wing tips if the vertical component of the Earth's field is 3.1010 -5 T? b. Is an emf of this magnitude likely...
-
on January1, 2025, Novak, inc. signed a fixed price contract to have builder associates contract a major plant facility at a cost of $4338000. It was estimated that it would take 3 years to complete...
-
In what manner does the integration of agile principles within the realm of supply chain management mitigate the deleterious effects of supply chain disruptions, enhance responsiveness to shifting...
-
Kona uses the retail inventory method to estimate its inventory for interim statement purposes. Data relating to the computation of the inventory at July 31, Year 1, are as follows: Cost Retail...
-
How do organizations imbue their workforce with the requisite skills, mindset, and competencies to thrive in an agile environment, fostering a culture of continuous learning, experimentation, and...
-
Consider the following situations: 1. American Airlines collects cash on June 12 from the sale of a ticket to a customer. The flight occurs on August 16. 2. A customer purchases sunglasses from Eddie...
-
Assume you are the accountant for Catalina Industries. John Catalina, the owner of the company, is in a hurry to receive the financial statements for the year ended December 31, 20X1, and asks you...
-
Manufacturing Cost Terms. Indicate whether each of the following costs associated with production would be classified as direct materials, direct labor, or manufacturing overhead. 1. Salaried...
-
Indicate whether each of the following costs associated with production would be classified as direct materials, direct labor, or manufacturing overhead. 1. Depreciation on production equipment 2....
-
Match each of the following accounts with the appropriate description that follows. _____ Raw materials inventory _____ Work-in-process inventory _____ Finished goods inventory _____ Cost of goods...
-
Provide a brief summary of the case. 2. Do you think that this case contains the five elements to prove negligence? Explain using legal reasoning and facts. 3. How would you rule in this case?...
-
After watching the video, please answer the below question. https://www.youtube.com/watch?v=RWRJLynQWnU&feature=youtu.be Are the rental scams on sites like Airbnb.com Links to an external site. or...
-
What duty does a paralegal owe if he knows that a will he has been assigned to draft for a client of his supervising attorney has been obtained through undue influence? What if the supervising...
Study smarter with the SolutionInn App