6. Match each financial analysis ratio with its value, using the following company data.

The company reports the following data for the month of October:

Cash + Short-Term Investments + Current Receivables = $250,000

Accounts Receivable = $60,000

Average Inventory = $50,000

Cost of Goods Sold = $100,000

Current Liabilities = $200,000

Net Sales = $400,000

Group of answer choices

Inventory Turnover

[ Choose ] 1.25 .75 54.75 2.0

Days' Sales Uncollected

[ Choose ] 1.25 .75 54.75 2.0

Gross Margin

[ Choose ] 1.25 .75 54.75 2.0

Acid Test [ Choose ] 1.25 .75 54.75 2.0

7.

On August 17, at the end of the day, the cash registers record shows $967, but the count of cash in the register is $965.

Do I debit or credit the Cash account? [ Select ] ["debit", "credit"]

Do I debit or credit the Sales account? [ Select ] ["debit", "credit"]

Do I debit or credit the Cash over and short account? [ Select ] ["debit", "credit"]

8.

Ceres Computer Sales Company uses the perpetual inventory system. The company has a policy to record freight charges for purchased merchandise in its Merchandise Inventory account. Prepare the general journal entries to record the following merchandise purchase transactions that occurred in the month of December.

Dec 4: purchased merchandise on credit for $2,600, terms 1/20, n/30.

The debit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expense", "Accounts Payable"]

The credit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expense", "Accounts Payable"]

9.

Ceres Computer Sales Company uses the perpetual inventory system. The company has a policy to record freight charges for purchased merchandise in its Merchandise Inventory account. Prepare the general journal entries to record the following merchandise purchase transactions that occurred in the month of December.

Dec 15: returned faulty merchandise purchased for $600 on Dec 4 to seller for credit.

The debit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expenses", "Accounts Payable"]

The credit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expense", "Accounts Payable"]

10.

Ceres Computer Sales Company uses the perpetual inventory system. The company has a policy to record freight charges for purchased merchandise in its Merchandise Inventory account. Prepare the general journal entries to record the following merchandise purchase transactions that occurred in the month of December.

Dec 18: paid freight charges of $200 for merchandise ordered last month (FOB shipping point).

The debit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expense", "Accounts Payable"]

The credit entry is? [ Select ] ["Cash", "Accounts Receivable", "Merchandise Inventory", "Freight Expense", "Accounts Payable"]