Nordstrom, Inc. operates desartment stores in numerous states. Salacted hypothetical financial statement data lin millions) for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Nordstrom, Inc. operates desartment stores in numerous states. Salacted hypothetical financial statement data lin millions) for 2022 ara presented below. End of Year Beginning of Year Cash and cash aouivalents $740 Accounts receivable (net 1,910 1,900 Invantory 830 850 Other current assets 804 475 Total currant assets $4,284 S3,210 Total current liabilitias $2040 $1,610 For the year, net credit sales were $9.275 millian, cost of goods sold vas $5.292 million, and nat cash provided by operating activities was $1,251 millian. Compute the current ratio, accounts recsivable turnover, average coliection period, inventory turnover, and days in inventory at the and of the current year. (Round current ratio to 2 decimal places, eg. 1.82 and all ather answers to i decimal place, eg. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover times Average collection period days Inventory tumover times Days in imventory days Nordstrom, Inc. operates desartment stores in numerous states. Salacted hypothetical financial statement data lin millions) for 2022 ara presented below. End of Year Beginning of Year Cash and cash aouivalents $740 Accounts receivable (net 1,910 1,900 Invantory 830 850 Other current assets 804 475 Total currant assets $4,284 S3,210 Total current liabilitias $2040 $1,610 For the year, net credit sales were $9.275 millian, cost of goods sold vas $5.292 million, and nat cash provided by operating activities was $1,251 millian. Compute the current ratio, accounts recsivable turnover, average coliection period, inventory turnover, and days in inventory at the and of the current year. (Round current ratio to 2 decimal places, eg. 1.82 and all ather answers to i decimal place, eg. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover times Average collection period days Inventory tumover times Days in imventory days
Expert Answer:
Answer rating: 100% (QA)
Required 1 Current ratio Current assets Current liabilities 4240 2040 208 1 Required 2 Receivab... View the full answer
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Rank the following according to which will adsorb to a synthetic surface first: alpha1-antitrypsin, transferrin, IgA, alpha2-haptoglobins, albumin, and fibrinogen.
-
The computation of cash provided by operating activities requires analysis of the noncash current asset and current liability accounts. Determine the missing amounts for each of the following...
-
In 2022, Elbert plc had net cash provided by operating activities of 531,000, net cash used by investing activities of 963,000, and net cash provided by financing activities of 585,000. At January 1,...
-
Terminology Key: Key Word List Describe Explain What to do In bulleted, numbered or paragraph form, provide a number of consecutive items-if paragraph form, use commas (,) to separate items In...
-
Investors should avoid Hong Kong, given its problematic outlook now that Britain has surrendered the colony to China. Comment.
-
The null hypothesis,Ho = 16 was tested against the alternative hypothesis, Ha: < 16 A sample of 50 resulted in a calculated p-value of 0.017. If =14 find the value of the population standard...
-
Match each item in the value chain, 1 through 7, with an example of an artificial intelligence initiative, choosing from items \(a\) through \(g\). Value Chain 1. Research and development Artificial...
-
Your small business client, Phillips Computer Repair Shop, is experiencing financial difficulties and has to lay off one of its four employees in the accounting area. Phillip has asked you to...
-
in the article from the October 2021 issue of Harvard Business Review, the authors Noubar Afeyan and Gary Pisano discuss innovation. They take the example of the Moderna mRNA vaccine among others to...
-
Consider the snapshot of the Linear Hashing index shown in Figure 11.7. Assume that a bucket split occurs whenever an overflow page is created. In figure 11.7 1. What is the maximum number of data...
-
You have been asked to develop UML diagrams to graphically depict and describe the architecture of two (2) unrelated software systems. The first system is for an automated ticket-issuing system used...
-
Discuss the sections or paragraphs that might be found in a formal written report.
-
What factors can you think of that may affect the width of a confidence interval? In what way does each factor affect the width?
-
List three forms of formal reporting of an operational audit's results.
-
Organizations that issue standards affecting governmental audits include all of the following except the a. SEC. b. AICPA. c. OMB. d. GAO.
-
What was the purpose of the Commission on Auditor's Responsibilities?
-
Return Economic Condition Probability Stock Fund Bond Fund Recession Normal 1/3 -4.00% 7.00% 1/3 8.00% 4.00% Boom 1/3 14.00% -2.00%
-
By referring to Figure 13.18, determine the mass of each of the following salts required to form a saturated solution in 250 g of water at 30 oC: (a) KClO3, (b) Pb(NO3)2, (c) Ce2(SO4)3.
-
Presented here is basic financial information (in millions) from the 2009 annual reports of Nike and Adidas. InstructionsCalculate the receivables turnover ratio and average collection period for...
-
Duncan Inc. reported 2011 earnings per share of $3.26 and had no extraordinary items. In 2012, earnings per share on income before extraordinary items was $2.99, and earnings per share on net income...
-
Parry Company has accounts receivable of $95,400 at March 31, 2012. An analysis of the accounts shows these amounts. Credit terms are 2/10, n/30. At March 31, 2012, there is a $2,100 credit balance...
-
Carson Company reported the following amounts for December: What amount of raw materials was used in production in December? a. $71,000 b. $73,000 c. $77,000 d. $85,000 Beginning raw materials...
-
Carson Company reported the following amounts for December: What is cost of goods manufactured for December? a. $176,000 b. $182,000 c. $186,000 d. $188,000 Beginning raw materials inventory....
-
All of the following would appear on a schedule of cost of goods manufactured except for a. ending work-in-process inventory. b. beginning finished goods inventory. c. the cost of raw materials used....
Study smarter with the SolutionInn App