ACC 400 (ACC400)

1. Zelma Company's last financial statements provided the following ratios: Current ratio 3:2 Quick ratio 1:2 Accounts receivable turnover 9.0 times Inventory turnover 8.0 times Net income percentage 12.5% Return on equity 22.6% Return on assets 9.8% To the nearest day, what is the operating cycle for Zelma? a) 80 days b) 86 days c) 172 days d) 129 days 2. The following events have been projected: A. C...

ACC 400 /ACC 400/ACC 400 A process cost summary for a production department accounts for all costs assigned to that department during the period plus costs that were in the department's Goods in Process Inventory account at the beginning of the period. 16. A process cost summary shows the cost of a particular job manufactured in the reporting period. 17. The process cost summary presents calculations of the cost of units completed during the reporting period but does not present any informati...