Question :
134.Use the following selected information from Wheeler, LLC to determine : 1236539
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.
20152014
Net sales$276,200$231,400
Cost of goods sold151,900129,590
Operating expenses55,24053,240
Net earnings27,82019,820
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 2014 trend percentages for net sales using 2014 as the base.
20152014
Net sales$276,200$231,400
Cost of goods sold151,900129,590
Operating expenses55,24053,240
Net earnings27,82019,820
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.
2015: $276,200/$231,400 * 100 = 119.4%2014: $231,400/$231,400 * 100 = 100.0%
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.
20152014
Net sales$276,200$231,400
Cost of goods sold151,900129,590
Operating expenses55,24053,240
Net earnings27,82019,820
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.
2015: $151,900/$129,590 * 100 = 117.2%2014: $129,590/$129,590 * 100 = 100.0%
137.Refer to the following selected financial information from McCormik, LLC. Compute the company’s working capital for Year 2.
Year 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
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 2Year 1
Cash$37,50036,850
Short-term investments90,00090,000
Accounts receivable, net85,50086,250
Merchandise inventory121,000117,000
Prepaid expenses12,10013,500
Plant assets388,000392,000
Accounts payable113,400111,750
Net sales711,000706,000
Cost of goods sold390,000385,500
A.43.9.
B.42.3.
C.46.2.
D.80.0.
E.113.3.
0
combs
