ORIE_350_Homework__3 - Homework #3 Due Tuesday February 13,...

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Homework #3 Due Tuesday February 13, 2006 You may wish to retain a copy of this homework, as it may not be returned prior to the first prelim. Graded Problems: 1. P4-2B 2. P4-6A 3. Here is fiscal year and fiscal year ending data from The Home Depot, a North American home improvement retailer. All amounts are in thousands of dollars Jan 29, 2006 Jan 30, 2005 Net Sales 81,511,000 73,094,000 Net Credit Sales 8,200,000 7,500,000 Accts. Receivable 2,396,000 1,499,000 Cost of Goods Sold 54,191,000 48,664,000 Accts. Payable 9,731,000 8,972,000 Inventory 11,401,000 10,076,000 a. Find the days of inventory, days of accounts payable, and days of accounts receivable, for the fiscal year ended Jan. 29, 2006. b. How much cash is used or provided by the cash cycle in the fiscal year ended Jan. 29, 2006 4. The accountant at Pete’s Used Shoe Store is preparing the financial statements for fiscal 2005. She needs to close out the temporary accounts. Here is a list of accounts, some may be useful. No dividends were paid during the year. Assume that Pete’s
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ORIE_350_Homework__3 - Homework #3 Due Tuesday February 13,...

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