Question :
134. Use the following selected information from Wheeler, LLC to determine : 1257749
134. Use the following selected information from Wheeler, LLC to determine the 2015 and 2014 common size percentages for operating expenses using Net sales as the base.
2015
2014
Net sales
$276,200
$231,400
Cost of goods sold
151,900
129,590
Operating expenses
55,240
53,240
Net earnings
27,820
19,820
A. 36.4% for 2015 and 41.1% for 2014.B. 55.0% for 2015 and 56.0% for 2014.C. 23.9% for 2015 and 23.0% for 2014.D. 103.8% for 2015 and 100.0% for 2014.E. 20.0% for 2015 and 23.0% for 2014.
135. Use the following selected information from Wheeler, LLC to determine the 2015 and 2014trendpercentages for net sales using 2014as the base.
2015
2014
Net sales
$276,200
$231,400
Cost of goods sold
151,900
129,590
Operating expenses
55,240
53,240
Net earnings
27,820
19,820
A. 36.4% for 2015 and 41.1% for 2014.B. 55.0% for 2015 and 56.0% for 2014.C. 119.4% for 2015 and 100.0% for 2014.D. 117.2% for 2015 and 100.0% for 2014.E. 65.1% for 2015 and 64.6% for 2014.
136. Use the following selected information from Wheeler, LLC to determine the 2015 and 2014 trend percentages for cost of goods sold using 2014 as the base.
2015
2014
Net sales
$276,200
$231,400
Cost of goods sold
151,900
129,590
Operating expenses
55,240
53,240
Net earnings
27,820
19,820
A. 36.4% for 2015 and 41.1% for 2014.B. 55.0% for 2015 and 56.0% for 2014.C. 119.4% for 2015 and 100.0% for 2014.D. 117.2% for 2015 and 100.0% for 2014.E. 65.1% for 2015 and 64.6% for 2014.
137. Refer to the following selected financial information from McCormik, LLC. Compute the company’s working capital for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. $232,700.B. $220,600.C. $147,200.D. $111,700.E. $142,700.
138. Refer to the following selected financial information from McCormik, LLC. Compute the company’s current ratio for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 2.26.B. 1.98.C. 2.95.D. 3.05.E. 1.88.
139. Refer to the following selected financial information from McCormik, LLC. Compute the company’s acid-test ratio for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 2.26.B. 1.98.C. 2.95.D. 3.05.E. 1.88.
140. Refer to the following selected financial information from McCormik, LLC. Compute the company’s accounts receivable turnover for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 8.62.B. 8.28.C. 8.94.D. 5.78.E. 7.90.
141. Refer to the following selected financial information from McCormik, LLC. Compute the company’s inventory turnover for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 4.72.B. 4.33.C. 3.28.D. 5.78.E. 3.86.
142. Refer to the following selected financial information from McCormik, LLC. Compute the company’s days’ sales uncollected for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 43.9.B. 42.3.C. 46.2.D. 80.0.E. 113.3.
143. Refer to the following selected financial information from McCormik, LLC. Compute the company’s days’ sales in inventory for Year 2.
Year 2
Year 1
Cash
$37,500
36,850
Short-term investments
90,000
90,000
Accounts receivable, net
85,500
86,250
Merchandise inventory
121,000
117,000
Prepaid expenses
12,100
13,500
Plant assets
388,000
392,000
Accounts payable
113,400
111.750
Net sales
711,000
706,000
Cost of goods sold
390,000
385,500
A. 43.9.B. 42.3.C. 46.2.D. 80.0.E. 113.3.
