Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I just want to know if I got them right. Company. Sales revenue during the current year was $13,300.300 and cost of goods sold was

image text in transcribed
image text in transcribed
I just want to know if I got them right.
Company. Sales revenue during the current year was $13,300.300 and cost of goods sold was 58.015.195. All of Pelican's sales are made on account and are due within 30 days The financial information below presents selected information from the financial statements of Pelican Cash and cash equivalentsS 572.330 5 039.780 3,820,000 4,750,000 940.300 Accounts receivable 1.283,440 Inventory Total current assets Total assets Total current liabilities Total iabilities 8,200,0308.180.100 11.120,02011.000,000 7,900.3006,176.000 8,280.700 8.469,900 Calculate the following: a. Current ratios as of the end of the current and prior year (Round your answers to 2 decimal places.) Current Year Prior Year Current Ratio 1.32 1.04 b. Calculate the receivables turnover ratio for the current year, (Round your answer to 2 decimal places.) eceivables Turnover 3.10 c. Calculate the days to collect for the current year (Round your intermediate calculations and final answers to 2 decimal place.) ays to Collect 116.12 b. Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.) 3.10 c. Calculate the days to collect for the current year. (Round your intermediate calculations and final answers to 2 decimal place.) 116.12 d. Calculate the inventory tunover ratio for the current year. (Round your answer to 2 decimal places.) 8.01 Inventory Turnover Ratio e. Calculate the days to sell for the current year. (Round your intermediate calculations and final answers to 2 decimal place.) 44.94 ays to Sell

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Not For Profit Entities Audit And Accounting Guide

Authors: AICPA

1st Edition

1937351971, 978-1937351977

More Books

Students also viewed these Accounting questions

Question

How does cloud computing affect business intelligence?

Answered: 1 week ago

Question

e. What are notable achievements of the group?

Answered: 1 week ago