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

Author Question: The 2020 and 2021 partial balance sheets for Ottoman Manufacturing Company appear below along with ... (Read 11 times)

Katmoss16

  • Full Member
  • ***
  • Posts: 156
on: Feb 5, 2023
The 2020 and 2021 partial balance sheets for Ottoman Manufacturing Company appear below along with selected financial information:

​​20202021
Current Assets​​
  Cash$  16,000$  15,000
  Accounts receivable, net21,00019,000
  Inventory   30,000   34,000
Total current assets67,00068,000
Plant & equipment, net   60,000   40,000
Total assets$127,000$108,000
​​​
Net credit sales$130,000$120,000
Cost of goods sold 100,000   80,000
Gross profit$  30,000$  40,000

Required:

a.Calculate Ottoman's inventory turnover and average days to sell inventory for 2021.
b.Calculate Ottoman's accounts receivable turnover and average collection period 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 Katmoss16 on Feb 5, 2023

kaynelson17

  • Full Member
  • ***
  • Posts: 141
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 29% of students answer this correctly


Katmoss16

  • Member
  • Posts: 156
Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Acid-base balance and imbalance. Acid-base balance and imbalance.
Protein Needs Are Determined by Nitrogen Balance in Your Body Protein Needs Are Determined by Nitrogen Balance in Your Body
Acid–Base Balance Acid–Base Balance
Acid–Base Balance Acid–Base Balance
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library