# ACC 100 Accounting Principles I Week 10 Homework, Assignment help

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5/23/2016 Exercise 18-5 Print by: KENYETTA KEYS ACC100264VA016-1164-001: Accounting I / Homework - Chapter 18 (ACC100) *Exercise 18-5 Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014. NORDSTORM, INC. Balance Sheet (partial) (in millions) Cash and cash equivalents End-of-Year Beginning-ofYear \$ 1,272 \$ 115 Accounts receivable (net) 3,256 3,107 Inventory 1,437 1,440 Prepaid expenses 141 149 Other current assets 381 336 Total current assets \$6,487 \$5,147 Total current liabilities \$3,222 \$2,562 For the year, net sales were \$13,213 and cost of goods sold was \$8,525 (in millions). (a) Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g. 1.6 .) Current ratio :1 Acid-test ratio :1 Accounts receivable turnover times Inventory turnover times Question Attempts: 0 of 3 used Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/1 5/23/2016 Brief Exercise 18-13 Print by: KENYETTA KEYS ACC100264VA016-1164-001: Accounting I / Homework - Chapter 18 (ACC100) *Brief Exercise 18-13 Guo Company has owners’ equity of \$358,000 and net income of \$74,129. It has a payout ratio of 21% and a return on assets of 11%. How much did Guo pay in cash dividends, and what were its average assets? (Round answers to 0 decimal places, e.g. 125.) Cash dividends \$ Average assets \$ Question Attempts: 0 of 3 used Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/1 5/23/2016 Exercise 18-2 Print by: KENYETTA KEYS ACC100264VA016-1164-001: Accounting I / Homework - Chapter 18 (ACC100) *Exercise 18-2 Operating data for Navarro Corporation are presented below. 2015 Net sales 2014 \$746,590 \$601,150 Cost of goods sold 464,010 391,380 Selling expenses 124,140 74,570 Administrative expenses 59,330 54,490 Income tax expense 35,690 21,160 Net income 63,420 59,550 Prepare a schedule showing a vertical analysis for 2015 and 2014. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2015 Amount Net sales \$746,590 Cost of goods sold 464,010 Gross profit 282,580 Selling expenses 124,140 Administrative expenses 59,330 Total operating expenses 183,470 Income before income taxes 99,110 Income taxes expense 35,690 Net income \$63,420 2014 Percent Amount % % % % % % % % % \$601,150 391,380 209,770 74,570 54,490 129,060 80,710 21,160 \$59,550 Percent % % % % % % % % % Question Attempts: 0 of 3 used http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/2 5/23/2016 Exercise 18-2 Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 2/2 5/23/2016 Brief Exercise 18-11 (Part Level Submission) Print by: KENYETTA KEYS ACC100264VA016-1164-001: Accounting I / Homework - Chapter 18 (ACC100) *Brief Exercise 18-11 (Part Level Submission) The following data are taken from the financial statements of Rainsberger Company. 2015 Accounts receivable (net), end of year Net sales on account 2014 \$525,800 \$565,100 3,931,900 3,112,700 Terms for all sales are 1/10, n/60. *(a1) Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was \$462,300. (Round answers to 1 decimal place, e.g. 1.6.) 2015 Accounts receivable turnover 2014 times times Attempts: 0 of 3 used *(a2) The parts of this question must be completed in order. This part will be available when you complete the part above. Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/1 5/23/2016 Brief Exercise 18-12 (Part Level Submission) Print by: KENYETTA KEYS ACC100264VA016-1164-001: Accounting I / Homework - Chapter 18 (ACC100) *Brief Exercise 18-12 (Part Level Submission) The following data are from the income statements of Haskin Company. 2015 2014 \$6,307,600 \$6,165,400 962,200 845,000 Purchases 4,323,200 4,658,100 Ending inventory 1,084,700 962,200 Sales Beginning inventory *(a1) Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) 2015 Inventory turnover 2014 times times Attempts: 0 of 3 used *(a2) The parts of this question must be completed in order. This part will be available when you complete the part above. Copyright © 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/1 ...
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## Tutor Answer

levi
School: University of Virginia

edited answer

Current Ratio
Acid-Test Ratio
Accounts Receivable Turnover
Inventory Turnover

2
1.4
4.2
5.9

:1
:1
times
times

Cash Dividends
Average Assets

\$ 15,567.09
\$ 673,900.00

2,015.00
Net Sales
Cost of goods sold
Gross profit
Selling Expense
Administr...

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