This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Phelps Piping Company manufactures PVC pipe. The company has provided the following selected ... (Read 35 times)

dabomba718

  • Full Member
  • ***
  • Posts: 158
on: Feb 5, 2023
Phelps Piping Company manufactures PVC pipe. The company has provided the following selected financial information:

​​20202021
Accounts receivable$   70,000$   50,000
Inventory90,00070,000
Total current assets220,000250,000
Total assets580,000460,000
Current liabilities40,00030,000
Total liabilities150,000130,000
Net credit sales300,000360,000
Cost of goods sold195,000221,400
Net income56,00062,000

Required:

a.What is Phelps' accounts receivable turnover for 2021?
b.What is Phelps' gross margin percentage for 2021?
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by dabomba718 on Feb 5, 2023

Burly

  • Full Member
  • ***
  • Posts: 167
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 58% of students answer this correctly


dabomba718

  • Member
  • Posts: 158
Reply 2 on: Feb 5, 2023
Thanks for the timely response, appreciate it

tanna.moeller

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Selected Hypothalamic and Pituitary Agents Selected Hypothalamic and Pituitary Agents
Selected Natural Products Selected Natural Products
Concentric double-pipe heat exchanger for co-current flow Concentric double-pipe heat exchanger for co-current flow
Selected Factors Affecting the Release of Growth Hormone Selected Factors Affecting the Release of Growth Hormone
Selected Drugs for Glaucoma Selected Drugs for Glaucoma
This headache remedy was “guaranteed” by the drug company; 1906. This headache remedy was “guaranteed” by the drug company; 1906.
Video: Types of Transport - Uniport, Antiport and Symport (Glucose and Na+K+ Transporters)

For a complete list of videos, visit our video library