The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net...
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The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (a) Compute Markham's quick ratio. The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (b) Compute Markham's current ratio. ! Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (c) Compute Markham's working capital. Working Capital Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (d) Compute Markham's accounts receivable turnover. Note: Round your answer to two decimal places. Accounts receivable tumover times ! Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory: Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (e) Compute Markham's average days to collect receivables. Note: Round your intermediate and final answers to two decimal places. Average days to collect receivables The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (a) Compute Markham's quick ratio. The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (b) Compute Markham's current ratio. ! Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (c) Compute Markham's working capital. Working Capital Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (d) Compute Markham's accounts receivable turnover. Note: Round your answer to two decimal places. Accounts receivable tumover times ! Required information [The following information applies to the questions displayed below.] The following information applies to Markham Company: Assets Cash Accounts receivable Inventory: Plant and equipment, net Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due after 3 years) Capital stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,400 16,500 19,500 24,500 22,500 $90,400 $ 8,500 13,500 15,500 26,500 26,400 $90,400 Additional information: Net credit sales equal $290,000 and beginning accounts receivable were $18,000. Required: (e) Compute Markham's average days to collect receivables. Note: Round your intermediate and final answers to two decimal places. Average days to collect receivables
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Related Book For
Management Accounting
ISBN: 9780077185534
6th Edition
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
Posted Date:
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