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    Chapter 2 Classwork 1

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    ErikaNicoleDumoranGumilin
    The document provides financial information for a company in 2010, including sales of $110,000, a gross profit margin of 25%, and an inventory turnover of 3.0. It asks for calculations of inventory ($27,500), notes payable ($10,609), accounts receivable ($19,861), net fixed assets ($45,484), total assets ($97,345), and long term debt ($30,763) based on the provided figures.

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    Chapter 2 Classwork 1

    Uploaded by

    ErikaNicoleDumoranGumilin
    17 views2 pages
    The document provides financial information for a company in 2010, including sales of $110,000, a gross profit margin of 25%, and an inventory turnover of 3.0. It asks for calculations of inventory ($27,500), notes payable ($10,609), accounts receivable ($19,861), net fixed assets ($45,484), total assets ($97,345), and long term debt ($30,763) based on the provided figures.

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    Chapter 2 Classwork 1.docx

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    The document provides financial information for a company in 2010, including sales of $110,000, a gross profit margin of 25%, and an inventory turnover of 3.0. It asks for calculations of inventory ($27,500), notes payable ($10,609), accounts receivable ($19,861), net fixed assets ($45,484), total assets ($97,345), and long term debt ($30,763) based on the provided figures.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    17 views2 pages

    Chapter 2 Classwork 1

    Uploaded by

    ErikaNicoleDumoranGumilin
    The document provides financial information for a company in 2010, including sales of $110,000, a gross profit margin of 25%, and an inventory turnover of 3.0. It asks for calculations of inventory ($27,500), notes payable ($10,609), accounts receivable ($19,861), net fixed assets ($45,484), total assets ($97,345), and long term debt ($30,763) based on the provided figures.

    Copyright:

    © All Rights Reserved
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    of 2

    Supplemental Materials and Enrichment Activity Form

    Information (2010 values)

    1. Sales totaled $110,000


    2. The gross profit margin was 25 percent.
    3. Inventory turnover was 3.0.
    4. There are 360 days in the year.
    5. The average collection period was 65 days.
    6. The current ratio was 2.40.
    7. The total asset turnover was 1.13.
    8. The debt ratio was 53.8 percent.

    www.cdsp.edu.ph
    Please provide the following figures of CEE for 2010 financial year.

    1. Inventory

    Answer:

    (S-COGS)/S= .25 thus (COGS)/S= .75 and COGS= .75(S) =.75($110,000) = $82,500
    IT= 3 = COGS/I, thus I = COGS/3 = $27,500

    2. Notes Payable

    Answer:

    = $10,609

    3. Accounts Receivable

    Answer:

    ACP: Account Receivable (360) / Sales = 65


    Receivables: 65(110,000) / 360 = $19,861

    4. Net Fixed Assets

    Answer:

    = $45,484

    5. Total Assets

    Answer:

    ATR: Sales / Total Assets = 1.13


    Total Assets: 110,000 / 1.13 = $97,345

    6. Long Term debt

    Answer:

    = $30,763

    www.cdsp.edu.ph

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