Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

smart t incorporatex had sal ' ' entify and briefly describe four ways to improve cash flows from sales and receivables. Question 3 (15 marks)

smart t incorporatex had sal
image text in transcribed
' ' entify and briefly describe four ways to improve cash flows from sales and receivables. Question 3 (15 marks) Smart-T Incorporated had sales and cost of sales of $1,850,000 and $1,100,000 respectively in 2017. The company had shareholders' equity of $925,000, liabilities of $775,000 and assets of $1,700,000. Included in Smart-Ts assets was inventory valued at $100,000 which was a $50,000 increase from the previous year's holdings. i) ii) Calculate Smart-T's gross profit percentage and inventory turn over for 2017. State some methods retailers might use to increase the gross margin on sales. Discuss methods companies could use to increase the rate of inventory turnover - (1850000-1100000)/1850000 Answer - (1) Gross profit percentage - (sales-cost of sales)/sales 0 words English (US) F8 F7 F6 FS * 000 000 F4 SO 3 & 8 8 % 7 6 $ 4 # 3 5

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

Irregularities Frauds And The Necessity Of Technical Auditing In Construction Industry

Authors: A. L. M. Ameer

1st Edition

1481799754, 978-1481799751

More Books

Students also viewed these Accounting questions