Text the following data were abstracted from the 2014

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Question 5Question text
The following data were abstracted from the 2014 December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000. Accounts and notes receivable, net 184,000. Merchandise inventory 244,000. Prepaid expenses 12,000. Accounts and notes payable, short-term 256,000. Short-termaccrued liabilities 64,000. Bonds payable, long-term 400,000. The acid-test ratio is:
Question 6Question textBenson Company shows the following data on its 2014 financial statements: Accounts receivable, January 1 $720,000; Accounts receivable, December 31 960,000; Merchandise inventory, January 1 900,000; Merchandise inventory, December 31 1,020,000; Gross sales 4,800,000; Sales returns and allowances 180,000; Net sales 4,620,000; Cost of goods sold 3,360,000; Income before interest and taxes 720,000; Interest on bonds 192,000; Net income 384,000; The accounts receivable turnover is:
Question 7Question textBenson Company shows the following data on its 2014 financial statements: Accounts receivable, January 1 $720,000; Accounts receivable, December 31 960,000; Merchandise inventory, January 1 900,000; Merchandise inventory, December 31 1,020,000; Gross sales 4,800,000; Sales returns and allowances
180,000; Net sales 4,620,000; Cost of goods sold 3,360,000; Income before interest and taxes 720,000; Interest on bonds 192,000; Net income 384,000; The inventory turnover is:
Question 8Question textBenson Company shows the following data on its 2014 financial statements: Accounts receivable, January 1 $720,000; Accounts receivable, December 31 960,000; Merchandise inventory, January 1 900,000; Merchandise inventory, December 31 1,020,000; Gross sales 4,800,000; Sales returns and allowances 180,000; Net sales 4,620,000; Cost of goods sold 3,360,000; Income before interest and taxes 720,000; Interest on bonds 192,000; Net income 384,000; The times interest earned ratio is:Select one:a. 2.00 times per year. b. 4.75 times per year. c. 3.75 times per year. Correct. Income before interest and taxes, $720,000; Interest on bonds, 192,000; Times interest earned ratio: $720,000/$192,000 = 3.75 times.d. 3.00 times per year. FeedbackThe correct answer is: 3.75 times per year.

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