Lendell Company has these comparative balance sheet data: Lendell Company
Balance Sheets
December 31
2020 2019
Cash $ 16,000 $ 29,000
Accounts receivable (net) 71,000 61,000
Inventory 61,000 51,000
Plant assets (net) 200,000 176,000
$348,000 $317,000
Accounts payable $50,000 $59,400
Mortgage payable (15%) 106,000 106,000
Common stock, $10 par 143,000 115,000
Retained earnings 49,000 36,600
$348,000 $317,000
Additional information for 2020:
1. Net income was $25,200.
2. Sales on account were $415,300. Sales returns and allowances amounted to $19,300.
3. Cost of goods sold was $196,000.
4. Net cash provided by operating activities was $44,400.
5. Capital expenditures were $26,200, and cash dividends were $8,900.
Compute the following ratios at December 31, 2020. (Round current ratio to 2 decimal places, e. g. 1.67. Round Accounts receivable turnover, Average collection period, Inventory turnover and Days in inventory to 1 decimal place, e. g. 1.6.)
a. Current ratio
b. Accounts receivable turnover
c. Average collection period
d. Inventory turnover
e. Days in inventory

Lendell Company

a. Current ratio = Current assets/Current liabilities

= $148,000/50,000

= 2.96

= 3

b. Accounts Receivable Turnover = Net Sales/Average Accounts Receivable

= $396,000/66,000

= 6 times

c. Average collection period  = Average Accounts Receivable/Net Sales * 365 days

= $66,000/$396,000 * 365

= 60.8 days

d. Inventory turnover  = Cost of Goods Sold/Average Inventory

= $196,000/56,000

= 3.5 times

e. Days in inventory = 365/3.5

104.3 days

Explanation:

a) Data and Calculations:

Lendell Company

Balance Sheets

December 31

                                                    2020           2019            Average

Cash                                       $ 16,000     $ 29,000         $ 22,500

Accounts receivable (net)         71,000         61,000            66,000

Inventory                                   61,000         51,000            56,000

Current assets                     $148,000      $141,000       $144,500

Plant assets (net)                  200,000        176,000          188,000

                                            $348,000     $317,000       $332,500

Accounts payable                 $50,000      $59,400         $54,700

Mortgage payable (15%)        106,000      106,000          106,000

Common stock, $10 par        143,000       115,000          129,000

Retained earnings                  49,000       36,600            42,800

                                           $348,000    $317,000       $332,500

Additional information for 2020:

1. Net income was $25,200.

2. Sales on account were $415,300.

Sales returns and allowances amounted to $19,300.

Net Sales $396,000

3. Cost of goods sold was $196,000.

4. Net cash provided by operating activities was $44,400.

5. Capital expenditures were $26,200

Cash dividends were $8,900

answer; the inspector may have found some violation that could cause death or some kind of serious injury;

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3