Hello I need help with my quiz! I have completed some of the problems however I want to make sure they are correct and I have the correct answers!

Question 1 1. Indicate the effect of the following on the operating cycle: Accounts payable goes up Increase Decrease No change Question 2 1. Indicate the effect of the following on the cash cycle: Accounts payable turnover goes up Decrease Increase No change Question 3 1. Indicate the effect of the following on the cash cycle: Accounts payable period goes up Decrease Increase No change Question 4 1. Identify which of the following will increase the operating cycle. Choose only one. Decrease in inventory turnover ratio decrease in average collection period decrease in accounts payable turnover ratio decrease in days' sales in inventory decrease in accounts payable period Question 5 1. On July 15th, you purchased $10,000 worth of goods. The terms of the sale were 1/6, net 38. What is the effective annual rate of interest for the credit period for this sale? Enter your answer in percentages rounded off to two decimal points. Do not enter % in the answer box. Question 6 1. Which of the following is a Source of Cash? Choose only one. Increase in long-term debt Increase in current assets decrease in current liabilities decrease in equity Increase in fixed assets Question 7 1. Month Sales $ Month Sales $ Jan 48,078 July 13,404 Feb 33,023 Aug 39,643 Mar 39,643 Sep 48,078 Apr 13,404 Oct 39,643 May 48,078 Nov 33,023 June 33,023 Dec 13,404 2. Sales are collected as follows: 3. In the month of Sales: 30% In the next month: 21% After 2 months: 12% After 3 months: remainder is collected 4. Calculate the cash collection for December. 5. Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. 6. Question 8 1. As of this morning, your firm had a ledger balance of $3,823 with no outstanding deposits or checks. Today, your firm deposited 2 checks in the amount of $288 each and wrote a check in the amount of $868. What is the amount of the collection float as of the end of the day? Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. Question 9 1. Month Sales $ Month Sales $ Jan 12,253 July 24,470 Feb 39,606 Aug 46,950 Mar 46,950 Sep 12,253 Apr 24,470 Oct 46,950 May 12,253 Nov 39,606 June 39,606 Dec 24,470 2. 3. Sales are collected as follows: 4. In the month of Sales: 40% In the next month: 34% After 2 months: 13% Remainder is considered as bad debt and is not collected. 5. Calculate the cash collection for June. 6. Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. 7. Question 10 1. Month Sales $ Month Sales $ Jan Feb Mar Apr May June 21,547 July 38,922 Aug 43,327 Sep 23,343 Oct 21,547 Nov 38,922 Dec 23,343 43,327 21,547 43,327 38,922 23,343 2. 3. The company has estimated expenses as follows: General and administrative expenses: $7,029 Material purchases are 63 percent of sales. Material purchases are paid in the month following the purchase. Interest payment per month: $3,821 Rent expenses per quarter starting March: $5,986 4. Calculate the cash outflows for June. 5. Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. 6. Question 11 1. ABC Company has a cash cycle of 13.18 days, an operating cycle of 18.42 days, and an average collection period of 5 days. The company reported cost of goods sold of $273,625. What is the company's average balance in Accounts Payable? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box Question 12 1. ABC Company has an average collection period of 38 days and factors all of its receivables immediately at a 2.5 percent discount. Assume all accounts are collected in full. What is the firm's effective cost of borrowing? Enter your answer in percentages rounded off to two decimal points. Do not enter % in the answer box. Question 13 1. ABC Company writes 111 checks a day for an average amount of $431 each. These checks generally clear the bank in 5 days. In addition, the firm generally receives an average of $120,169 a day in checks that are deposited immediately. Deposited funds are available in 1 days. What is the firm's net float? Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. Question 14 1. Month Sales $ Month Sales $ Jan 30,812 July 33,033 Feb 20,494 Aug 19,277 Mar 19,277 Sep 30,812 Apr 33,033 Oct 19,277 May 30,812 Nov 20,494 June 20,494 Dec 33,033 2. 3. Sales are collected as follows: 4. In the month of Sales: 26% In the next month: 26% After 2 months: 12% After 3 months: remainder is collected 5. Calculate the cash collection for November. 6. Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. 7. Question 15 1. Compute the cash cycle based on the following information: Average Collection Period = 47 Accounts Payable Period = 48 Average Age of Inventory = 67 Question 16 1. The terms of the sale were 1/19, net 33. What is the effective annual rate of interest? Enter your answer in percentages rounded off to two decimal points. Do not enter % in the answer box. Question 17 1. ABC Corporation currently has an inventory turnover of 14.24, a payables turnover of 10.05, and a receivables turnover of 14.3. How many days are in the operating cycle? Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Question 18 1. Compute the Accounts Payable (A/P) period based on the following information: Average A/P balance = $48,545 Annual Cost of Goods Sold = $494,557 Assume 365 days Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Question 19 1. ABC Company has annual sales of $449,521 and cost of goods sold of $198,600. The average accounts receivable balance is $106,932. How many days on average does it take the firm to collect its accounts receivable? Assume 365 days. Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Question 20 1. ABC Corporation currently has an inventory turnover of 19.79, a payables turnover of 11.8, and a receivables turnover of 8.49. How many days are in the cash cycle? Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Question 21 1. ABC Company has annual sales of $400,000 and cost of goods sold of $328,822. The accounts payable period is 59.73 days. What is the average accounts payable balance? Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box. Question 22 1. Identify a source of cash from below. Choose only one. decrease in long-term debt Increase in fixed assets increase in inventory decrease in current liabilities Decrease in accounts receivable Question 23 1. As of this morning, your firm had a ledger balance of $3,273 with no outstanding deposits or checks. Today, your firm deposited 9 checks in the amount of $369 each and wrote 2 checks in the amount of $824 each. What is the amount of the disbursement float as of the end of the day? Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box. Question 24 1. Which one of the following is most indicative of a flexible short-term financial policy? Relatively low level of accounts receivable Relatively high ratio of short-term debt to total debt Relatively high ratio of current assets to total assets Relatively low level of liquidity Relatively low level of inventory