Financial Accounting > QUESTIONS & ANSWERS > DeVry University, Chicago - ACCT 212 212ACCT 212 Week 8 Quiz (All)
DeVry University, Chicago - ACCT 212 212ACCT 212 Week 8 Quiz
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ACCT 212 Week 8 Quiz Explanation: 1. Subtract 2018 values from 2019 to determine the dollar amount change. For example, the dollar amount change for Net Sales is $63,000 - $42,000 = $21,000 2. Div... ide the dollar amount change by the base period (2018). $21,000/ $42,000 = 50% Explanation: A lower net income percentage is an indication that they are inferior to their competitor’s sales despite the net income. Explanation: Total Current Assets / Total Assets x 100 = $180,000/ $270,000 x 100 = 67% Explanation: 1. Calculate average net receivables see example below: 2. Calculate turnover rate 3. Calculate collection period Explanation: 1. Calculate average inventory see example below: 2. Calculate turnover rate 3. Calculate collection period [Show More]
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