Financial Accounting > EXAM > ACCT 212 Week 8 Quiz 100% CORRECT ANSWERS AID grade A (All)

ACCT 212 Week 8 Quiz 100% CORRECT ANSWERS AID grade A

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ACCT 212 Week 8 Quiz (Version 1) 1. Question: Zebra Company reports the following figures for the year ending December 31, 2019 and 2018……… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively. 2. Question: Szidon Company reports the following data…. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data……… In vertical anaylsis, the cost of goods sold percentage is closest to: (Round your final answer to the nearest whole percentage) 4. Question: Marie’s Clothing Store had an account receivable balance of $410,000 at the beginning of the year and a year – end balance of $590,000. Net credit sales for the year totaled $2,600,000. The average collection period of the receivables was:…… (Round any intermediary calculations to two decimal places and your final answer to the nearest day) 5. Question: Carey’s Department Store had net sales of $20 00 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $6.00 million. What was the day’s inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day) 6. Question: The measure of a company’s ability to collect cash from its customers who purchase on account is the…….. 7. Question: A ratio that measures a company’s profitability is the………… 8. Question: Marie’s Clothing Store had an account receivable balance of $410,000 at the beginning of the year and a year – end balance of $620,000. Net credit sales for the year totaled $2,000,000. The average collection period of the receivables was:…….. (Round any intermediary calculations to two decimal places and your final answer to the nearest day). 9. Question: The ratio that measures the number of times that operating income can cover interest expense is the: 10. Question: How is the cash conversion cycle computed? ACCT 212 Week 8 Quiz (Version 2) 1. Question: Zebra Company reports the following figures for the years ending December 31, 2019 and 2018:…… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively? (Round your final answers to one decimal place, X.X%) 2. Question: Szidon Company reports the following data:……. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data:…….. In vertical analysis, the cost of goods sold percentage is closest to: (Round your final answer to the nearest whole percentage) 4. Question: Marie’s Clothing Store had an accounts receivable balance of……… The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) 5. Question: Carey’s Department Store had net sales of $20 million and cost of goods sold of……… What was the days’ inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) 6. Question: The measure of a company’s ability to collect cash from its customers who purchase on account is the…… 7. Question: Marie’s Clothing Store had an accounts receivable balance of…….. The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day.) 8. Question: How is the cash conversion cycle computed? ACCT 212 Week 8 Quiz

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