hw3 - Homework#3 Due Tuesday E5-6 1 E5-12 2 P5-7A High...

This preview shows pages 1–8. Sign up to view the full content.

Homework #3 Due Tuesday, September 19, 2006 E5-6 1

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
E5-12 2
P5-7A High Point Department Store Income Statement (Partial) Year Ended December 31, 2005 Net Sales \$710,000 Cost of Goods Sold (394,700) Gross Margin \$315,300 BYP5-8 3

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
E6-4 E6-8 4
E6-10 5

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
BYP6-11 6
10. The following information is available for the Watkins Corporation. For the balance sheet accounts, the year-end amounts are given, the income statement amounts are for the year listed. 2002 2001 2000 Net Sales (total) \$325,500 \$290,400 \$280,500 Net Credit Sales \$120,700 \$140,600 \$150,200 Accounts Receivable \$22,800 \$19,400 \$14,000 Cost of Goods Sold \$210,200 \$194,500 \$185,300 Accounts Payable \$40,700 \$32,500 \$35,200 Depreciation Expense \$12,000 \$12,800 \$11,100 Inventory \$65,300 \$45,200 \$31,600 a. Based on this information, calculate the inventory turnover, the receivables turnover, and the payables turnover for 2001 and 2002. 2001 Inventory turnover = 194,500/38,400 = 5.07 Receivables turnover = 290,400/16,700 = 17.4 Payables turnover = 194,500/33,850 = 5.75

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/03/2008 for the course ORIE 350 taught by Professor Callister during the Fall '08 term at Cornell.

Page1 / 10

hw3 - Homework#3 Due Tuesday E5-6 1 E5-12 2 P5-7A High...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online