For the past year, Coach, Inc., had a cost of goods sold of $87,386. At the end of the year, the accounts payable balance was $19,472.

Calculating Average Payables Period For the past year, Coach, Inc., had a cost of goods sold of $87,386. At the end of the year, the accounts payable balance was $19,472. How long on average did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?

Cost of Goods Sold	$ 87,386.00
Accounts Payable	$ 19,472.00


Average Payable Period

03.27 Using the DuPont Identity Y3K, Inc., has sales of $10,570, total assets of $4,670, and a debt–equity ratio of .25. If its return on equity is 15 percent, what is its net income?

Sales	$ 10,570.00
Total Assets	$ 4,670.00
Debt-Equity Ratio	0.25
Return on Equity	15.00%


Net Income

Solutions

Expert Solution

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

For the past year, Coach, Inc., had a cost of goods sold of $68,382. At the...

For the past year, Coach, Inc., had a cost of goods sold of $68,382. At the end of the year, the accounts payable balance was $11,889. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days’ sales in payables days

For the past year, Coach, Inc., had a cost of goods sold of $59,882. At the...

For the past year, Coach, Inc., had a cost of goods sold of $59,882. At the end of the year, the accounts payable balance was $13,589. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days’ sales in payables days

Last year, HCC, Inc had Sales of $500,000, cost of goods sold of $290,000, ending accounts...

Last year, HCC, Inc had Sales of $500,000, cost of goods sold of $290,000, ending accounts receivable of $75,000 and ending inventory balance of $25,000. The company’s inventory turnover was closest to: A. 12.08 B. 11.60 C. 5.80 D. 11.15 Granger Corp had $180,000 in Sales on account last year and offered a 10% discount. The ending accounts receivable balance was $14,000, after bad debt expense of $5,000. The company’s average collection period (DSO) was closest to: A. 20.3 days...

In the past year, TVG had revenues of $3.04 million, cost of goods sold of $2.54...

In the past year, TVG had revenues of $3.04 million, cost of goods sold of $2.54 million, and depreciation expense of $130,280. The firm has a single issue of debt outstanding with book value of $1.04 million on which it pays an interest rate of 9%. What is the firm’s times interest earned ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Entries Accounts payable Cost of goods sold Factory overhead Factory wages payable Other accounts Raw materials...

Entries Accounts payable Cost of goods sold Factory overhead Factory wages payable Other accounts Raw materials inventory Work in process inventory Starr Company reports the following information for August. Raw materials purchased on account $ 85,800 Direct materials used in production $ 52,400 Factory wages earned (direct labor) $ 17,300 Overhead rate 125 % of direct labor cost Prepare journal entries to record the following events. Raw materials purchased. Direct materials used in production. Direct labor used in production. Applied...

The projected balance of accounts payable at the end of the first year of operation is?

A family friend, Mr. Burn Out availed of the early retirement scheme offered by his employer. He said that he was already tired of the same routine of spending eight full hours in an office doing the same thing for the last twenty years. Mr. Burn Out plans to get into the field of entrepreneurship. He would invest part of his retirement pay in a business that would deal with the sale of medical supplies to local clinics and hospitals....

Income Statement Accounts for the Year Ending 2017 Account Balance Cost of goods sold $1,415,000 Interest...

Income Statement Accounts for the Year Ending 2017 Account Balance Cost of goods sold $1,415,000 Interest expense $293,000 Taxes $227,600 Revenue $2,985,000 Selling, general, and administrative expenses $453,000 Depreciation $255,000 Income statement. From the following income statement accounts in the popup window, (popup window info above) a. produce the income statement for the year. b. produce the operating cash flow for the year. a. produce the income statement for the year. Complete the income statement below. (Round to the nearest...

Last year, Stevens Inc. had sales of $405 comma 000, with a cost of goods sold...

Last year, Stevens Inc. had sales of $405 comma 000, with a cost of goods sold of $110 comma 000. The firm's operating expenses were $ 133 comma 000, and its increase in retained earnings was $53 comma 000. There are currently 22 comma 100 common stock shares outstanding and the firm pays a $1.57 dividend per share. a. Assuming the firm's earnings are taxed at 34 percent, construct the firm's income statement. b. Compute the firm's operating profit margin....

(Evaluating profitability) Last year, Stevens Inc. had sales of $398,000, with a cost of goods sold...

(Evaluating profitability) Last year, Stevens Inc. had sales of $398,000, with a cost of goods sold of $110,000. The firm's operating expenses were $134,000, and its increase in retained earnings was $57,000. There are currently 21,800 common stock shares outstanding and the firm pays a $1.61 dividend per share. a. Assuming the firm's earnings are taxed at 34 percent, construct the firm's income statement. b. Compute the firm's operating profit margin. c. What was the times interest earned? a. Assuming...

Last year, Stevens Inc. had sales of$404 comma 000 with a cost of goods sold of...

Last year, Stevens Inc. had sales of$404 comma 000 with a cost of goods sold of $120 comma 000. The firm's operating expenses were $129 comma 000 and its increase in retained earnings was $60 comma 000. There are currently 23 comma 000 common stock shares outstanding and the firm pays a $1.59 dividend per share. a. Assuming the firm's earnings are taxed at 34 percent, construct the firm's income statement. b. Compute the firm's operating profit margin. c. What...

Subjects