Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help and show work! thanks please help and show work CALCULATOH Exercise 18-02 Trayer Corporation has income from continuing operations of $268,000 for the

please help and show work! thanksimage text in transcribedimage text in transcribedplease help and show work

CALCULATOH Exercise 18-02 Trayer Corporation has income from continuing operations of $268,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. 2. An unrealized loss of $85,000 on available-for-sale securities. Again of $33,000 on the discontinuance of a division (comprised of a $17,000 loss from operations and a $50,000 gain on disposal). Assume all items are subject to income taxes at a 22% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) TRAYER CORPORATION Partial Statement of Comprehensive Income Question Att here to search To ai be a | CALCULATOR Exercise 18-07 Your answer is partially correct. Try again. Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Beginning of Year $ 90 Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 1,032 2,500 1,100 408 $5,040 $2,520 2,400 1,100 379 $3,969 $2,001 For the year, net credit sales were $10,290 million, cost of goods sold was $6,710 million, and net cash provided by operating activities was $1,276 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio Accounts receivable turnover T 2 260.5|| times Average collection period days Inventory turnover times Days in inventory days Question Attemp

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

Step: 3

blur-text-image

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

The TL 9000 Guide For Auditors

Authors: Mark Kempf

1st Edition

087389510X, 978-0873895101

More Books

Students also viewed these Accounting questions

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago