Is the merchandise inventory turnover favorable or

Assignment Help Accounting Basics
Reference no: EM13568011

The following data are taken from the financial statements:                                                

2009                      2008                                                  

Net sales                              $2,480,000          $2,345,000         Cost of goods sold    1,480,000  1,407,000

Average monthly inventory   230,000               200,000

Inventory Ending                   234,000               215,880    

(a) Determine for 2009 and 2008 the merchandise inventory turnover.

(b) Determine for 2009 and 2008 the number of days sales on ending inventory.     

(c) Is the merchandise inventory turnover favorable or unfavorable trend from Year 2008 to Year 2009? F or U

Reference no: EM13568011

Questions Cloud

Singal inc is preparing its cash budget it expects to have : singal inc. is preparing its cash budget. it expects to have sales of 30000 in january 35000 in february and 35000 in
Predict two ways that the hedge fund incentive fee may : predict two ways that the hedge fund incentive fee may affect a managers proclivity to take on high-risk assets in the
Cost of debt micro spinoffs inc issued 20-year debt a year : cost of debt. micro spinoffs inc issued 20-year debt a year ago at par value with a coupon rate of 8 paid annually.
Jensens travel agency has 9 percent preferred stock : jensens travel agency has 9 percent preferred stock outstanding that is currently selling for 30 a share. the market
Is the merchandise inventory turnover favorable or : the following data are taken from the financial
Write a three to four 3-4 page paper on american federalism : write a three to four 3-4 page paper on american federalism in which you1. provide three 3 examples of how federalism
Using the maximum ratios for a conventional mortgage how : using the maximum ratios for a conventional mortgage how big a monthly payment could the tayler family afford if their
If net income is 120000 and interest expense is 42500 for : 1. . the balance sheets at the end of each of the first two years of operations indicate the following2009
What is the conversion value of the bond what is the : oreilly moving company has a 1000 par value convertible bond outstanding that can be converted into 25 shares of common

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the standard cost per dress for direct materials

retro wear manufactures dresses in a small facility in potsdam new york. information about the production week is as

  Determining the interest expense

On September 1, 2009, Barrett Corporation signed a one-year, 8% interest-bearing note payable for $50,000. Assume that Barrett Corporation maintains its books on a calendar year basis. What amount should Barrett Corp. record as interest expense fo..

  Journal entry to record the acquisition of land

Fielder Company obtained by issuing 2,000 shares of its $10 par value common stock. The land was recently appraised at $85,000. The Common Stock is actively traded at $40 per share. Prepare the journal entry to record the acquisition of land.

  Calculate electronics marts ending inventory balance in

on august 1st electronics mart had a beginning inventory of 40 mp3 players which it purchased for 50 each. on august

  Adjusting entry related to uncollecting accounts

Present the necessary year end adjusting entry related to uncollecting accounts for each of the following independant assumptions

  If the tasks are independent what is the probability of the

there are three and only three paths through a network project each with a probability of completion in less than 24

  What is delta incom tax liability

What is Delta's incom tax liability assuming Carl withdraws none of the earnings from the C corporation? What is Carl's income tax liability? What is the total tax liability for the corporation and its shareholder?

  Deducting the attorney fees

Over the last two years, Ed had spent nearly $600,000 in attorney fees. Ed had even offered his brother-in-law 50% of the winnings. How and where would you deduct the attorney fees?

  Discuss the u.s. tax consequences

Discuss the U.S. tax consequences of each of the above items of income. Also, indicate how your answers would change if Harry held a green card.

  Caine bottling corporation is considering the purchase of

caine bottling corporation is considering the purchase of a new bottling machine. the machine would cost 200000 and has

  You are provided the overhead cost data for the auerbach

You are provided the overhead cost data for the Auerbach Enterprises.  Management needs advice in determining how to allocate these costs utilizing a job order costing system either department-wide or company-wide.   Address Questions 1through 5 loca..

  Arrow industries employs a standard cost system in which

arrow industries employs a standard cost system in which direct materials inventory is carried at standard cost. arrow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd