Question

The 2015 and 2016 balance sheets for Shadow Industries showed Cash of $8,100 and $9,600 respectively,...

The 2015 and 2016 balance sheets for Shadow Industries showed Cash of $8,100 and $9,600 respectively, Accounts Receivable of $12,000 and $14,000, respectively, Inventory of $12,000 and $9,000, respectively, and Accounts Payable of $4,600 and $6,600, respectively. Its 2016 Income Statement showed Net Sales of $ 110,000, Cost of Goods Sold of $65,000, and Net Income of $26,000. The cash conversion cycle for 2016 was:

A. 1616 days.

B. 4747 days.

C. 134134 days.

D. 7171 days.

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The 2015 and 2016 balance sheets for Steele Electric showed Cash of $ 6,700 and $...
The 2015 and 2016 balance sheets for Steele Electric showed Cash of $ 6,700 and $ 8,200 respectively, Accounts Receivable of $ 15,000 and $ 18,000 , respectively, Inventory of $ 11,500 and $ 8,500 , respectively, and Accounts Payable of $ 5,500 and $ 8,500 , respectively. Its 2016 Income Statement showed Net Sales of $ 118,000 , Cost of Goods Sold of $ 57,000, and Net Income of $ 33,000. The cash conversion cycle for 2016 was: (Assume...
MONTGOMERY INC. Comparative Balance Sheets December 31, 2016 and 2015 2016 2015   Assets   Cash $ 30,400...
MONTGOMERY INC. Comparative Balance Sheets December 31, 2016 and 2015 2016 2015   Assets   Cash $ 30,400 $ 30,550   Accounts receivable, net 10,050 12,150   Inventory 90,100 70,150   Total current assets 130,550 112,850   Equipment 49,900 41,500   Accum. depreciation—Equipment (22,500 ) (15,300 )   Total assets $ 157,950 $ 139,050   Liabilities and Equity   Accounts payable $ 23,900 $ 25,400   Salaries payable 500 600   Total current liabilities 24,400 26,000   Equity   Common stock, no par value 110,000 100,000   Retained earnings 23,550 13,050   Total liabilities and equity...
1. Terry company's 2017 income statement and comparative balance sheets at December 31 of 2016 and...
1. Terry company's 2017 income statement and comparative balance sheets at December 31 of 2016 and 2017are shown. Terry Company                                                                    Income Statement        For the year Ended December 31, 2017    Sales                                                 $ 390,000    Cost of Goods Sold                            235,000                                                                                _______      Gross Profit                                                        $ 155,000    Wages Expenses                              $ 63,000    Depreciation Expense                        14,000    Other Operating Expenses                  26,000    Income Tax Expense                           17,000    120,000                                                                                 ______    ________      Net Income                                                          $ 35,000                                                  ...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 32,096...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 32,096 $ 37,517 $ 38,306 Accounts receivable, net 89,700 62,100 54,700 Merchandise inventory 115,000 83,500 54,000 Prepaid expenses 10,336 9,848 4,256 Plant assets, net 291,476 271,352 231,838 Total assets $ 538,608 $ 464,317 $ 383,100 Liabilities and Equity Accounts payable $ 135,455 $ 79,254 $ 51,075 Long-term notes payable secured by mortgages on plant assets 102,271 107,861 85,512 Common stock, $10 par value 162,500 162,500...
Quantitative Problem: Rosnan Industries' 2017 and 2016 balance sheets and income statements are shown below. Balance...
Quantitative Problem: Rosnan Industries' 2017 and 2016 balance sheets and income statements are shown below. Balance Sheets: 2017 2016 Cash and equivalents $100   $85   Accounts receivable 275   300   Inventories 375   250         Total current assets $750   $635   Net plant and equipment 2,300   1,490   Total assets $3,050   $2,125   Accounts payable $150   $85   Accruals 75   50   Notes payable 150   75         Total current liabilities $375   $210   Long-term debt 450   290   Common stock 1,225   1,225   Retained earnings 1,000   400   Total liabilities and equity $3,050   $2,125  ...
Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES...
Presented below are the 2021 income statement and comparative balance sheets for Santana Industries. SANTANA INDUSTRIES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 16,850 Service revenue 6,000 Total revenue $ 22,850 Operating expenses: Cost of goods sold 8,500 Selling expense 3,700 General and administrative expense 2,800 Total operating expenses 15,000 Operating income 7,850 Interest expense 280 Income before income taxes 7,570 Income tax expense 2,900 Net income $ 4,670 Balance Sheet Information...
An extract from the balance sheets of Mum & Dra Pty Ltd showed the following for...
An extract from the balance sheets of Mum & Dra Pty Ltd showed the following for the years ended 30 June 2013 and 30 June 2014: Current Assets 30 June 2013 30 June 2014 Bank Accounts receivable Allowance (provision) for doubtful debts Inventory Bills Receivable 17,000 67,000 - 3,000 52,000 10,000 19,300 61,000 - 2,000 55,000 14,000 Current Liabilities Accounts payable Taxation payable Provision for annual leave Provision for dividend 44,000 12,000 14,000 16,000 48,000 14,000 22,000 22,000 Additional Information:...
The following information comes from the balance sheets and income statements of Crosby Co.: As of...
The following information comes from the balance sheets and income statements of Crosby Co.: As of or for the Year ended December 31 Current Year Prior Year Cash $ 14,000 $ 14,000 Accounts receivable 21,000 26,000 Inventory 36,000 35,000 Property and equipment 132,000 129,000 Current liabilities 32,000 38,000 Long-term liabilities 73,000 70,000 Stockholders’ equity 98,000 96,000 Net sales revenues 400,000 335,000 Cost of goods sold 250,000 250,000 Operating expenses 100,000 95,000 Interest expense 10,200 14,000 Income tax expense 11,000 12,000...
The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are...
The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANYComparative Balance SheetsDecember 31, 2016 and 2015($ in 000s) 2016 2015 Assets Cash $ 33 $ 20 Accounts receivable 44 47 Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and equipment 225 250 ?Less: Accumulated depreciation (25) (50) $420 $369 Liabilities 2016...
BALANCE SHEETS: 2016 2017 Assets:                         Cash             &nbs
BALANCE SHEETS: 2016 2017 Assets:                         Cash                                        120,000                       160,000                         Accounts Receivable               520,000                       620,000                         Inventory                                305,000                       290,000                         Fixed Assets, net                    410,000                       510,000                         Total Assets                           1,355,000                    1,580,000 Liabilities and Equity:                         Accounts Payable                   350,000                       $375,000                         Long-term Debt                      500,000                       625,000                         Common Stock                       50,000                         75,000                         Retained Earnings                   455,000                       505,000                         Total Liabilities and Equity    1,355,000                    1,580,000 INCOME STATEMENT:             Revenue                                                                                  3,500,000             Cost of Goods Sold                                                                2,275,000...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT