The following information was taken from Nash, Inc.s trial balances as of December 31, 2010, and December

Question:

The following information was taken from Nash, Inc.€™s trial balances as of December 31, 2010, and December 31, 2011.

Required:
1. Calculate the net profit margin and accounts receivable turnover for 2011.
2. How much does Nash make on each sales dollar?
3. How many days does the average receivable take to be paid (assuming all sales are on account)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

See More Books

Question Posted: Sep 22, 2015 02:48 AM

See More Questions

The following information was taken from Logsden Manufacturings trial balances as of December 31, 2010, and December 31, 2011. Required: 1. Calculate the gross profit margin and operating margin...
Yancys Hardware has three stores. Each store manager is paid a salary plus a bonus on the sales made by his or her store. On January 5, 2012, Bill Slick, manager of one of the stores, resigned. Bills...
Parker Electronics sells cell phones. During 2011, Parker sold 1,500 units at an average of $500 per unit. Each unit cost Parker $350. At present, Parker offers no sales discounts. Parkers controller...
A feature of most autumns in the northeastern United States is a period of mild, sunny weather called Indian summer, which occurs when an anticyclone happens to stall for a few days off the East...
Based on the sustainable growth model, if a firm increases the dividend payout ratio (1 the retention ratio), will this increase or decrease the growth in earnings per share in the future?
Eagle Sports Supply has the following financial statements. Assume that Eagle?s assets are proportional to its sales. INCOME STATEMENT, 2019...
If the 10-year Hong Kong government bond rate is 4.5 percent, the inflation premium is 2.3 percent, and the maturity-risk premium on the 10-year Hong Kong government bonds is 0.15 percent, assuming...
On January 1, Year 4, Cyrus Inc. paid $914,000 in cash to acquire all of the ordinary shares of Fazli Company. On that date, Fazli's retained earnings were $200,000. All of Fazli's assets and...
1. Let p and q be two positive numbers such that p + q = 2 and p + q = 272. Then p and q are roots of the equation: (a) x-2x+8=0 2. lim x 0 (sint)dt (b) x-2x+136=0 (c) x-2x+16=0 (d) x-2x+2=0 0
The City of San Jose must replace a number of its concrete-mixer trucks with new trucks. It has received two bids and has evaluated closely the performance characteristics of the various trucks. The...
Marydale Products permits its customers to defer payment by giving personal notes instead of cash. All the notes bear interest and require the customer to pay the entire note in a single payment six...
Katie Vote owns a small business that rents computers to students at the local university for the nine-month school year. Katies typical rental contract requires the student to pay the years rent of...
Look up the measurement of the approximate thickness of a human hair. a. Convert the measurement to an SI unit (if it isnt already). b. Write it in scientific notation. c. Write it without scientific...
A life insurance company is issuing a single premium policy which will pay out 200,000 in 20 years' time. The interest rate the company will cam on the invested fund throughout the 20 years will be...
Begley Company insured its auto liability exposure through a retrospectively rated plan for a calendar year. Auto liability losses for the calendar year were: $120,000, $20,000, $50,000, $180,000,...
Approximate the integral. by using 1+2 (a) Midpoint rule (b) Trapezoidal rule (c) Simpson's rule with the stepsizes h=h = 2-k, k=1,2,...16. Using the exact value 1= of given integral, calculate the...
Nokela Industries purchases a $43.2 million cyclo-converter. The cyclo-converter will be depreciated by $10.8 million per year over four years, starting this year. Suppose Nokela's tax rate is 40%....
1. What are mathematical formulas, and why are they important? 2. What is the formula for calculating the area of a rectangle? 3. Can you explain the Pythagorean theorem and its formula? 4. What is...
In Problems 4556, use transformations to graph each function. Determine the domain, range, horizontal asymptote, and y-intercept of each function. f(x) = 3 x-1
You are a U.S. investor who purchased British securities for 2,000 one year ago when the British pound cost U.S. $1.50. What is your total return (based on U.S. dollars) if the value of the...
Great Basin Enterprises, a large holding company, acquired North Spruce Manufacturing, a medium-sized manufacturing business, from its founder, who wishes to retire. Despite great potential for...
Hattiesburg Manufacturing purchased a new computer-integrated system to manufacture a group of fabricated metal and plastic products. The equipment was purchased from Bessemer Systems at a cost of...
Obtain Verizon Communications, Inc.'s most current annual report either through the ''Investor Relations'' portion of their website (do a web search for Verizon Communications investor relations) or...
At the beginning of the year DRJ Enterprises reported gross fixed assets of $915 million and net fixed assets of $616 million; at the end of the year, it reported gross fixed assets of $882 million...
In 20X2, Jacque's Gardening Supply acquired Glenn's Agricultural Center and recorded goodwill in the amount of $450,000. At the end of the 20X4 year, the net assets (including goodwill) of Glenn's...
In its financial statements KRJ International reported net income of $10 million and an effective taxIn its 2019 financial statements Driver Enterprises reported total debt of $155 million and total...

The following information was taken from Nash, Inc.s trial balances as of December 31, 2010, and December

Question:

12/31/201 12/31/2010 32,000 39,00o 36,000 128,000 2,300 16,000 1,000 9,000 Accounts receivable Accounts payable Sales Sales returns Retained earnings Dividends Net income 47,000 219,000 4,000 47,000 5,000 36,000

Step by Step Answer:

1 Net Profit Margin Percentage Net Income Net Sales 36000 215000 167...View the full answer

Cornerstones of Financial and Managerial Accounting

Students also viewed these Accounting questions