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 53 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
:D TYSM

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

« previous next »
 

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Protein Needs Are Determined by Nitrogen Balance in Your Body Protein Needs Are Determined by Nitrogen Balance in Your Body
Electrolyte Balance Electrolyte Balance
Acid–Base Balance Acid–Base Balance
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Fluid–solute balance in freshwater and marine bony fishes Fluid–solute balance in freshwater and marine bony fishes
Video: Barriers - eye structures, digestive mucosa, respiratory mucosa & genitourinary mucosa

For a complete list of videos, visit our video library