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ACCT 212 Week 8 Quiz (Summer 2021) Question: The following is an example of: Question: The times interest earned ratio is classified as an indicator of a company’s: Question: A par... tial balance sheet for Captain D’s Sportswear is shown below……. The current ratio is: (Round your answer to 2 decimal places.) Question: Excerpts from Stealth Company’s December 31, 2021 and 2020, financial statements are presented below: …… Stealth Company’s 2021 receivables turnover ratio is: Question: Excerpts from TPX Company’s December 31, 2021 and 2020, financial statements are presented below: .….. TPX Company’s 2021 return on equity is: (Round your answer to 1 decimal place.) Question: Ronaldo Soccer Shop’s income statement reports sales of $100,000; cost of goods sold of $46,000, operating expenses of $34,000, interest expense of $15,000, income tax expense of $2,000, and net income of $3,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by: Question: To calculate a year-to-year percentage change in any financial statement line item such as sales, you should take the current year’s amount, subtract the prior year’s amount, then divide by , and finally multiply the result by 100. Question: Richard’s Sporting Goods reports net income of $100,000, net sales of $500,000, and average assets of $1,000,000. The profit margin is: Question: Below is information related to two companies: ……. Based on the ratios above, what is generally true about these two companies? Question: Quality of earnings refers to: ACCT 212 Week 8 Quiz (Summer 2020) 1. Question: Zebra Company reports the following figures for the year ending December 31, 2019 and 2018……… What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively. 2. Question: Szidon Company reports the following data…. Using benchmarking, what can be said about Szidon Company? 3. Question: Mussa Corporation reports the following data……… In vertical anaylsis, the cost of goods sold percentage is closest to: (Round your final answer to the nearest whole percentage) 4. Question: Marie’s Clothing Store had an account receivable balance of $410,000 at the beginning of the year and a year – end balance of $590,000. Net credit sales for the year totaled $2,600,000. The average collection period of the receivables was:…… (Round any intermediary calculations to two decimal places and your final answer to the nearest day) 5. Question: Carey’s Department Store had net sales of $20 00 million and cost of goods sold of $17.00 million for the year. The beginning inventory for the year was $3.00 million. The ending inventory for the year was $6.00 million. What was the day’s inventory outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day) 6. Question: The measure of a company’s ability to collect cash from its customers who purchase on account … 7. Question: A ratio that measures a company’s profitability is the………… 8. Question: Marie’s Clothing Store had an account receivable balance of $410,000 at the beginning of the year and a year – end balance of $620,000. Net credit sales for the year totaled $2,000,000. The average …….. (Round any intermediary calculations to two decimal places and your final answer to the nearest day). 9. Question: The ratio that measures the number of times that operating income can cover interest expense is the: 10. Question: How is the cash conversion cycle computed? [Show More]

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