Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Select the four statements that are FALSE about the following company: Sales Cost of goods sold Gross profit $517,500207,000310,500$506,300197,740308,560 Salaries 119,720102,400 Depreciation expense 13,83038,350 Other

image text in transcribed

image text in transcribed

image text in transcribed

Select the four statements that are FALSE about the following company: Sales Cost of goods sold Gross profit $517,500207,000310,500$506,300197,740308,560 Salaries 119,720102,400 Depreciation expense 13,83038,350 Other operating expenses Total operating expenses Income from operations Gain on sale of equipment Net income $22,100$24,600 Cash from operating activities Cash from investing activities Cash from financing activities $$$8,51060,65059,540 Select one or more: a. The company had difficulty collecting accounts receivable in 2022, if their goal is 20 days b. Profit margin decreased between 2021 to 2022 c. The company is slightly riskier in 2022 , based on solvency d. The company paid dividends in 2022 e. The company was able to fund all their investing activities with operating cash flows. f. The company's gross profit margin decreased from 2021 to 2022 g. In 2022, the company is spending less on salaries per dollar of sales than it did in 2021 h. It took half the number of days to sell inventory in 2022 than it did in 2021, if 2021 took 64 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions