Question 1 the following information is available for oakland

Question 1 

The following information is available for Oakland Company:

                                   20142013

Accounts receivable$  360,000$  400,000

Inventory                 340,000400,000

Net credit sales               2,470,0001,400,000

Cost of goods sold1,850,0001,060,000

Net income                300,000170,000

 

The inventory turnover ratio for 2014 is

 

5.0 times.        

5.4 times. 

4.6 times. 

6.7 times.

 

Question 2 

Swiss Clothing Store had a balance in the Accounts Receivable account of $920,000 at the beginning of the year and a balance of $980,000 at the end of the year. Net credit sales during the year amounted to $6,650,000. The average collection period of the receivables in terms of days was

 

50.7 days. 

52.1 days.   

53.7 days. 

30 days.

 

Question 3 

Assume the following sales data for a company:

 

2014$1,050,000

2013950,000

2012800,000

2011650,000

 

If 2011 is the base year, what is the percentage increase in sales from 2011 to 2013?

 

100% 

61.5% 

46.2%       

68.4%

 

Question 4 

The current assets of Myers Company are $250,000. The current liabilities are $100,000. The current ratio expressed as a proportion is

 

2.5 : 1     

.25 : 1 

250%. 

$250,000 ÷ $100,000.

 

Question 5 

Nord Company had $375,000 of current assets and $150,000 of current liabilities before borrowing $70,000 from the bank with a 3-month note payable. What effect did the borrowing transaction have on the amount of Nord Company’s working capital?

 

No effect     

$70,000 decrease 

$140,000 increase 

$70,000 increase

 

Question 6 

If a company has an acid-test ratio of 1.2:1, what respective effects will the borrowing of cash by short-term debt and collection of accounts receivable have on the ratio?

 

Short-term Borrowing   Collection of Receivable

 

Increase                  Increase 

Decrease               Decrease 

Decrease               No effect 

Increase               No effect

 

Question 7 

If an item meets one (but not both) of the criteria for an extraordinary item, it

 

is reported as an “other revenue or gain” or “other expense and loss,” net of tax. 

only needs to be disclosed in the footnotes of the financial statements. 

is reported at its gross amount as an “other revenue or gain” or “other expense or loss.” 

may be treated as sales revenue (if it is a gain) and as an operating expense (if it is a loss).

 

Question 8 

In ratio analysis, the ratios are never expressed as a

 

percentage.

simple proportion. 

negative figure. 

rate.

 

Question 9 

An aircraft company would most likely have

 

low profit margin. 

a high inventory turnover. 

high volume. 

a low inventory turnover.

 

Question 10 

The disposal of a significant component of a business is called

 

a change in accounting principle. 

an extraordinary item. 

discontinued operations. 

an other expense.

 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Our Basic features
  • Free title page and bibliography
  • Plagiarism-free guarantee
  • Unlimited revisions
  • Money-back guarantee
  • 24/7 support
Our Options
  • Writer’s samples
  • Expert Proofreading
  • Overnight delivery
  • Part-by-part delivery
  • Copies of used sources
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

AcademicWritingCompany guarantees

Our customer is the center of what we do and thus we offer 100% original essays..
By ordering our essays, you are guaranteed the best quality through our qualified experts.All your information and everything that you do on our website is kept completely confidential.

Money-back guarantee

Academicwritingcompany.com always strives to give you the best of its services. As a custom essay writing service, we are 100% sure of our services. That is why we ensure that our guarantee of money-back stands, always

Read more

Zero-plagiarism tolerance guarantee

The paper that you order at academicwritingcompany.com is 100% original. We ensure that regardless of the position you are, be it with urgent deadlines or hard essays, we give you a paper that is free of plagiarism. We even check our orders with the most advanced anti-plagiarism software in the industry.

Read more

Free-revision guarantee

The Academicwritingcompany.com thrives on excellence and thus we help ensure the Customer’s total satisfaction with the completed Order.To do so, we provide a Free Revision policy as a courtesy service. To receive free revision the Academic writing Company requires that the you provide the request within Fifteen (14) days since the completion date and within a period of thirty (30) days for dissertations and research papers.

Read more

Privacy and Security policy

With Academicwritingcompan.com, your privacy is the most important aspect. First, the academic writing company will never resell your personal information, which include credit cards, to any third party. Not even your lecturer on institution will know that you bought an essay from our academic writing company.

Read more

Adherence to requirements guarantee

The academic writing company writers know that following essay instructions is the most important part of academic writing. The expert writers will, therefore, work extra hard to ensure that they cooperate with all the requirements without fail. We also count on you to help us provide a better academic paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2020 at 10:52 AM
Total price:
$26
The price is based on these factors:
Customer Academic level
Number of pages required
Urgency of paper