5th Take Home Fall 2014 Fin 3320

Emilyanne Smith

5th Take Home Exam Finance 3320 Fall 2014
This exam covers chapters 6 and 10

Jamestown Company presents the following data for 2011.

Receivables, less allowance for losses and discounts of $12,196
$ 266,700
Net Sales
$2,360,108
Cost of Goods Sold
$1,580,360

1. The days' sales in receivables is
a.
53.1
b.
48.2
c.
43.1
d.
38.1
e.
none of the answers are correct

Ambience Company presents the following data for 2011.

Receivables, end of year, less allowances for losses and discounts of $115,960
$ 2,370,100
Receivables, beginning of year, less allowance for losses and discounts of $102,330
$ 2,443,140
Net Sales
$24,417,090

2. The accounts receivable turnover in times per year is:
a.
6.9
b.
7.9
c.
10.7
d.
9.7
e.
none of the answers are correct

Smithonian Company presents the following data for 2011.

Inventories, beginning of year
$ 310,150
Inventories, end of year
$ 340,469
Cost of Goods Sold
$2,103,696
Net Sales
$8,690,150

3. The number of days' sales in inventory is:
a.
65.8
b.
60.8
c.
59.1
d.
58.1
e.
none of the answers are correct

Pg 2

Thames Company presents the following data for 2011.

Net Sales, 2006
$3,007,124
Net Sales, 2005
$ 93,247
Cost of Goods Sold, 2006
$2,000,326
Cost of Goods Sold, 2005
$1,000,120
Inventory, beginning of 2006
$ 341,169
Inventory, end of 2006
$ 376,526

4. The merchandise inventory turnover for 2011 is:
a.
5.6
b.
15.6
c.
7.5
d.
7.7
e.
none of the answers are correct

Scriba Company computed the following data for 2011.

Days' sales in receivables
38.7 days
Accounts receivable turnover
9.6 times
Accounts receivable turnover in days
35.1 days
Days' sales in inventory
68.5 days
Merchandise inventory turnover
5.9 times
Inventory turnover in days
58.7 days

5. The estimated operating cycle for 2011 is:
a.
97.4 days
b.
107.2 days
c.
93.8 days
d.
108.0 days
e.
none of the answers are correct

Company HHH’s Balance