In calculating a company's accounts receivable turnover, which of the following sets of factors would be used?
a. Net income and average accounts receivable
b. Average accounts receivable and average total assets
c. Average accounts receivable and net credit sales
d. Net credit sales and average stockholders' equity
C
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The following details are provided by Western Wear Merchandisers. The company uses the periodic inventory system.
Calculate the amount of net purchases.
A) $153,500
B) $88,800
C) $90,500
D) $104,000
On January 1, James Corporation had 60,000 shares of common stock outstanding. On March 1, the company reacquired 12,000 shares, and it declared a 10% stock dividend on October 1. What is the denominator in the earnings per share calculation?
A) 44,200 B) 40,800 C) 55,000 D) 60,000
The speed of the Internet and the pervasiveness of social media and viral communications mean that people and companies are always ________
A) viewed more favorably in a crisis B) one step away from crisis C) less vulnerable to a crisis D) more glamorous after a crisis
Calculate the residual income of Sousa Corporation.
Sousa Corporation provides the following financial? information: Minimum acceptable operating income $556,600 Average total assets $2,600,000 Operating income $715,000 Return on investment 28% Net sales $850,000 A. $435,600 B. $2,043,400 C. $293,400 D. $158,400