Question :
41. Bradford Corporation reported net credit sales of $3,200,000 and cost : 1224914
41. Bradford Corporation reported net credit sales of $3,200,000 and cost of goods sold of $2,600,000 for 2012. On January 1, 2012, accounts receivable was $450,000. Amounts owed by customers increased by $50,000 during 2012. Rounding to two decimal places, what is Bradford’s receivable turnover ratio for 2012? A. 5.47B. 6.40C. 6.74D. 7.11
42. The following information is available for Elson Corporation for fiscal year ending January 31, 2012. Calculate the receivable turnover ratio:
Net sales
$450,000
Accounts receivable, 1/31/2011
$175,000
Operating income
$120,000
Accounts receivable, 1/31/2012
$125,000
Net income
$100,000
A. 3 B. 0.8C. 3.6 D. 2.57
43. The following information is available for Elson Corporation for fiscal year ending January 31, 2012. Calculate the days-in-receivables ratio:
Net sales
$450,000
Accounts receivable, 1/31/2011
$175,000
Operating income
$120,000
Accounts receivable, 1/31/2012
$125,000
Net income
$100,000
A. 120.00B. 121.66C. 112.66D. 188.33
44. Bradford Corporation reported net credit sales of $3,200,000 and cost of goods sold of $2,600,000 for 2012. On January 1, 2012, accounts receivable was $450,000. Amounts owed by customers increased by $50,000 during 2012. Rounding the intermediate calculation to two decimal places, what is Bradford’s days-in-receivables ratio for 2012? A. 52.94B. 53.67C. 53.41D. 54.15
45. The following information is available for Elson Corporation for fiscal year ending January 31, 2012. Calculate the allowance ratio:
Net sales
$450,000
Accounts receivable, net
$175,000
Operating income
$120,000
Allowance for bad debts
$ 25,000
Net income
$100,000
A. 14.28%B. 12.3%C. 12.5%D. 36.36%
46. Bradford Corporation reported net accounts receivable of $380,000 and net sales of $2,600,000 for 2012. Allowance for bad debts was $40,000, ending 2012. Rounding to two decimal places, what is Bradford’s allowance ratio for 2012? A. 10.53%B. 9.52%C. 1.54%D. 1.50%
47. Max’s Tire Center CompanySelected data from the financial statements of Max’s Tire Center are provided below.
2012
2011
Net accounts receivable
$ 55,500
$ 43,200
Allowance for bad debts
2,220
1,700
Total assets
462,500
720,000
Cash flow from operations
314,500
316,800
Net sales
370,000
360,000
Cost of goods sold
185,000
190,000
Capital expenditures
50,000
25,000
Refer to the selected data provided for Max’s Tire Center. Which of the following would result from a horizontal analysis of Max’s balance sheet? A. Net sales increased by $2,300 or 10.0% during 2012.B. Net accounts receivable increased $12,300 or 28.47% during 2012.C. Net accounts receivable is 12.0% of total assets in 2012.D. The total assets is $462,500 in 2011.
48. Max’s Tire Center CompanySelected data from the financial statements of Max’s Tire Center are provided below.
2012
2011
Net accounts receivable
$ 55,500
$ 43,200
Allowance for bad debts
2,220
1,700
Total assets
462,500
720,000
Cash flow from operations
314,500
316,800
Net sales
370,000
360,000
Cost of goods sold
185,000
190,000
Capital expenditures
50,000
25,000
Refer to the selected data provided for Max’s Tire Center. Which of the following would result from a horizontal analysis of Max’s income statement? A. Net sales increased by $10,000 or 2.78% during 2012.B. Net sales increased by $2,300 or 10.0% during 2012.C. Net sales is $360,000 in 2012.D. Net sales decreased by $2,300 or 10.0% during 2012.
49. Max’s Tire Center CompanySelected data from the financial statements of Max’s Tire Center are provided below.
2012
2011
Net accounts receivable
$ 55,500
$ 43,200
Allowance for bad debts
2,220
1,700
Total assets
462,500
720,000
Cash flow from operations
314,500
316,800
Net sales
370,000
360,000
Cost of goods sold
185,000
190,000
Capital expenditures
50,000
25,000
Refer to the selected data provided for Max’s Tire Center. Which of the following would result from a vertical analysis of Max’s balance sheet in 2012? A. Net accounts receivable increased by $12,300 or 28.47% during 2012.B. Net accounts receivable decreased by $12,300 or 28.47% during 2012.C. Net accounts receivable is 6% of total assets in 2012.D. Net accounts receivable is 12% of total assets in 2012.
50. Max’s Tire Center CompanySelected data from the financial statements of Max’s Tire Center are provided below.
2012
2011
Net accounts receivable
$ 55,500
$ 43,200
Allowance for bad debts
2,220
1,700
Total assets
462,500
720,000
Cash flow from operations
314,500
316,800
Net sales
370,000
360,000
Cost of goods sold
185,000
190,000
Capital expenditures
50,000
25,000
Refer to the selected data provided for Max’s Tire Center. Which of the following would result from a vertical analysis of Max’s income statement in 2012? A. Net sales increased by $10,000 or 2.78% during 2012.B. Net sales is $360,000 in 2012.C. Capital expenditures is 100% of total assets in 2012.D. Cost of goods sold is 50% of net sales in 2012.
