The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. Allfigures are in millions. Use the information to answer the questions that follow.okSalesCost of goods soldkAccounts receivableInventoryAccounts payable.ToyotaY 28,735,78024,562,364Apple$ 276,515171,5598,713,06518,1202,436,9186,061intences2,438,980a. Calculate the length of the operating cycle for Toyota and Apple.44,296b. Calculate the length of the cash conversion cycle for Toyota and Apple.Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. -a operating cycle cash conversion cycleb. cash conversion cycle conversion cycleToyota36 2 daysdaysAppledaysday's

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Description: The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. Allfigures are in millions. Use the information to answer the questions that follow.okSalesCost of goods soldkAccounts recei

Operating cycle is the time taken by the business from buying the inventory until cash received in…

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The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. A figures are in millions. Use the information to answer the questions that follow. Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota ¥ 28,735,780 Apple $276,515 24,562,364 171,559 8,713,065 18,120 2,436,918 6,061 44,296 2,438,980 a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. a operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota 36 2 days days Apple days day's

The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. A figures are in millions. Use the information to answer the questions that follow. Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota ¥ 28,735,780 Apple $276,515 24,562,364 171,559 8,713,065 18,120 2,436,918 6,061 44,296 2,438,980 a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. a operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota 36 2 days days Apple days day's

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota ¥31,095,245 24,602,364 8,717,065 2,438,918 2,443,780 a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. Apple Apple $ 278,515 173,559 20, 120 8,061 46,296 Toyota days days days days
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All ﬁgures are in millions. Use the information to answer the questions that follow. Toyota Apple Sales ¥29,931,992 $ 277,515 Cost of goods sold 24,582,364 172,559 Accounts receivable 8,715,065 19,120 Inventory 2 ,437,918 7,061 Accounts payable 2,441,380 45,296 Calculate the length of the operating cycle for Toyota and Apple. Calculate the length of the cash conversion cycle
Shelcal, Inc. provides the following data for the year 2019: Net Sales Revenue, $437,690; Cost of Goods Sold, $255,000. O The gross profit as a percentage of net sales is (Round your answer to two decimal places.) OA) 37.96% OB) 39.80% OC) 60.20% OD) 40.8%
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The following information is available for Grace Company for 2020: Disbursements for purchases P1,050,000; Increase in trade accounts payable 75,000; Decrease in merchandise inventory 30,000; Costs of goods sold for 2010 was P1,155,000. P1,095,000. P945,000.
uarez Department Store has derived the following data from the store’s operations in the year ended December 31, 2019. Net Sales $10,000Net Income ? Current Liabilities 2,000Selling Expenses 1,000Long term liabilities 1,600Total Assets 6,800Stockholders’ equity ?Gross Profit ?Cost of Goods Sold 7,000Current Assets 4,000Income tax expense and other non-operating items 220Operating income ?General and administrative expenses 980Plant and equipment 2,600Other assets ?Using the given data, prepare for Juarez Department store a: Classified balance sheet at December 31, 2019. Classified income statement for the year ended December 31, 2019. Show supporting computations used in determining the missing amounts. How does Income tax expense differs from normal operating expenses such as advertising and salaries? How do you present income tax expense in a classified income statement?  An income statement is a summary of revenues and expenses and gains and losses, ending with net income for a…
1. Dulaney's Stores has posted the following yearly earnings and expenses: EARNINGS AND EXPENSES (YEAR ENDING JANUARY 2019) Sales Cost of goods sold (COGS) Pretax earnings SELECTED BALANCE SHEET ITEMS Merchandise Inventory Total assets $50,000,000 $30,000,000 $5,000,000 $2,500,000 $8,000,000 a. (*) What is Dulaney's current profit margin? What is its current yearly ROA? b. (**) Suppose COGS and merchandise inventory were each cut by 10%. What would be the new pretax profit margin and ROA? c. (**) Based on the current profit margin, how much additional sales would Dulaney have to generate in order to have the same effect on pretax earnings as a 10% decrease in merchandise costs?
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Rousseau Corporation has the following Statement of Income for the year ended May 31, 2020: Sales... $1,675,200 Cost of goods sold.. 887,600 Gross margin... 787,600 Selling & administrative expense.. 241,200 Interest expense. 65,000 Income before income taxes. 481,400 192,500 $288,900 Income taxes.. Net income.... Calculate the interest-coverage ratio for Rousseau Corporation for May31, 2020 (place answer at up to 2 decimal places in the space below). 신
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