答案和详解如下： 21.The following data applies to the XTC Company: §
Sales = $1,000,000 §
Receivable = $260,000 §
Net Income = $50,000 §
COGS = $800,000 §
Total Assets = $800,000 §
Payables = $600,000 §
Debt/Equity = 200% §
Inventory = $400,000 What is the average collection period, the average inventory processing period, and the payables payment period respectively for XTC Company?
| Average
Collection Period | Average Inventory
Processing Period | Payables
Payments Period |
A) 55 days 195 days 231 days B) 95 days 183 days 274 days C) 45 days 45 days 132 days D) 95 days 97 days 132 days The correct answer was B) Receivables turnover = $1,000,000/$260,000 = 3.840 Average collection period = 365/3.840 = 95.05 or 95 days Inventory turnover = $800,000/$400,000 = 2 Average Inventory Processing Period = 365/2 = 183 days Payables turnover ratio = $800,000/$600,000 = 1.333 Payables payment period = 365/1.333 = 273.82 or 274 days
22.An analyst has gathered the following data about a company: §
Average receivables collection period of 95 days §
Average inventory processing period of 183 days §
A payables payment period of 274 days What is their cash conversion cycle? A) 186 days. B) 552 days. C) 4 days. D) -4 days. The correct answer was C) Cash conversion cycle = ave. receivables collection period + ave. inventory processing period – payables payment period = 95 + 183 – 274 = 4 days
23.Given the following income statement and balance sheet for a company: Balance Sheet | Assets | Year 2003 | Year 2004 | Cash | 500 | 450 | Accounts Receivable | 600 | 660 | Inventory | 500 | 550 | Total CA | 1300 | 1660 | Plant, prop. equip | 1000 | 1250 | Total Assets | 2600 | 2910 |
|
|
| Liabilities |
|
| Accounts Payable | 500 | 550 | Long term debt | 700 | 700 | Total liabilities | 1200 | 1652 |
|
|
| Equity |
|
| Common Stock | 400 | 400 | Retained Earnings | 1260 | 1260 | Total Liabilities & Equity | 2600 | 2910 |
|
|
|
|
|
| Income Statement | Sales | 3000 | Cost of Goods Sold | (1000) | Gross Profit | 2000 | SG&A | 500 | Interest Expense | 151 | EBT | 1349 | Taxes (30%) | 405 | Net Income | 944 | | | | |
What is the operating profit margin? A) 0.45. B) 0.67. C) 0.49. D) 0.50. The correct answer was D) Operating profit margin = EBIT/sales = 1,500/3,000 = 0.5 | 
发表于 2008-4-22 11:38
| 
