Question
Stamford Office Supply Company reported the following selected financial statement data: Cash Dec 31, 2012 $30,000 Dec 31, 2013 $32,000 Accounts receivable (net) 48,000 52,000
- Stamford Office Supply Company reported the following selected financial statement data:
|
Cash | Dec 31, 2012 $30,000 | Dec 31, 2013 $32,000 |
| Accounts receivable (net) | 48,000 | 52,000 |
| Inventory | 68,000 | 72,000 |
| Plant assets (net) | 210,000 | 218,000 |
| Total assets | 405,000 | 395,000 |
| Liabilities | 145,000 | 145,000 |
| Shareholders' equity | 260,000 | 250,000 |
| Net sales | 340,000 | 400,000 |
| Cost of goods sold | 220,000 | 280,000 |
| Net income | 20,000 | 25,000 |
Required:
Compute the following for 2013:
- The receivables turnover ratio.
- The inventory turnover ratio.
- The asset turnover ratio.
- The average collection period.
- The average days in inventory.
- The profit margin on sales.
- The return on assets.
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Advances In Accounting Education Teaching And Curriculum Innovations Volume 23
Authors: Thomas G. Calderon
1st Edition
1789733944, 978-1789733945
