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2013 20121000000 1200000450000 600000550000 600000600000 450000-50000 1500002013
Problem 1 Required: In the space below describe the ne
September 15, 2020Question 1Which of the following statements about users of accounting informatio
September 15, 20202013
20121000000
1200000450000
600000550000
600000600000
450000-50000
1500002013
2012380000
376000-20000
-16000360000
360000480000
4400003400000
30800001600000
1440000780000
680000Problem 1
Problem 2
Sales
Cost of goods sold
Gross margin
Operating expenses
Net income
% Sales
Comments
(25 points)
Accounts receivable
Inventory
Allowance for doubtful accounts
Net accounts receivable
Required:
Compute (1) accounts receivable turnover for 2013 (2) the inventory turnover for 2013 and (3) the net margin for 2012.
2013
20121000000
1200000450000
600000550000
600000600000
450000-50000
1500002013
2012380000
376000-20000
-16000360000
360000480000
4400003400000
30800001600000
1440000780000
680000Problem 1
Problem 2
Sales
Cost of goods sold
Gross margin
Operating expenses
Net income
% Sales
Comments
(25 points)
Accounts receivable
Inventory
Allowance for doubtful accounts
Net accounts receivable
Required:
Compute (1) accounts receivable turnover for 2013 (2) the inventory turnover for 2013 and (3) the net margin for 2012.
Balance sheet items
Income statement items
Required:
Express each income statement component as a percentage of sales and comment on the trends in each line from 2012 to 2013.
Attachments:
