ACCT 212 Week 8 Quiz (GRADED A) Questions and Answer solutions

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