Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. carla vista co. has these comparative balance shee

Carla Vista Co. has these comparative balance sheet data: CARLA VISTA CO. Balance Sheets December...

50.1K

Verified Solution

Question

Accounting

Carla Vista Co. has these comparative balance sheet data: CARLA VISTA CO. Balance Sheets December 31 2022 2021 Cash $16,140 $32,280 Accounts receivable (net) 75,320 64,560 Inventory 64,560 53,800 Plant assets (net) 215,200 193,680 $371,220 $344,320 Accounts payable $53,800 $64,560 Mortgage payable (15%) 107,600 107,600 Common stock, $10 par 150,640 129,120 Retained earnings 59,180 43,040 $371,220 $344,320imageimage

Carla Vista Co. has these comparative balance sheet data: Additional information for 2022: 1. Net income was $32,500. 2. Sales on account were $390,988. Sales returns and allowances amounted to $27,300. 3. Cost of goods sold was $218,966. 4. Net cash provided by operating activities was $58,373. 5. Capital expenditures were $30,000, and cash dividends were $19,000. Compute the following ratios at December 31, 2022. (Round free cash flow to 0 decimal places, e.g. 5,275 and all other answers to 2 decimal places, e.g. 1.82. Use 365 days for calculation.) (a) Current ratio. :1 (b) Accounts receivable turnover. (c) Average collection period. (d) Inventory turnover. (e) Days in inventory. times days times days (f) Free cash flow

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students