Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chianti reports the following items in their balan

Chianti reports the following items in their Balance Sheet: $70,000 fixed assets, $3,500 cash, ...

90.2K

Verified Solution

Question

Accounting

Chianti reports the following items in their Balance Sheet: $70,000 fixed assets, $3,500 cash,
$1,200 short term marketable securities, $4,500 in accounts receivables, $6,000 in inventories,
$1,000 in prepaid expenses, $4,000 accounts payable and $2,100 in current notes payable. What is Chianti Corp.s Current Ratio?
Group of answer choices
7.24
1.51
2.49
2.65
Assuming that Chianti reported annual sales of $100,000, cost of goods sold of $65,000, average receivables of $5,600, average inventories of $3,800, and average payables of $5,700. What is Chianti Corp.s Receivables Turnover and Average Receivables Collection Period?
Group of answer choices
6.25,58.4
10,36.5
11.61,31.5
17.9,20.4
Assuming the same facts as outlined in question 20, what is Chianti s Inventory Turnover? And Average Inventory Processing Period?
Group of answer choices
13.4,27.2
12.4,29.4
26.5,13.8
17.11,21.3
Assuming the same facts as in question 20, what is Chianti s Cash Conversion Cycle?
Group of answer choices
26.1
7.24
9.7
-5.67

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

Economics
1.2K views

If we accept that the marketplace is the regulator for those industries where there is no...

Biology
1.2K views

Question 3 Points 1 On the state level the executive branch is led by the...

Physics
1.2K views

3 Johannes Kepler was a German mathematician and astronomer who lived from 1571 1630 He...

Algebra
1.2K views

When you work more than 40 hours per week it is called time and a...

Accounting
1.2K views

Annie is self-employed and has $47,600 in income from her business. She also has investments...

Accounting
1.2K views

1-1 Audrey Martin and Beth James are parthers in the Country...

Accounting
1.2K views

Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible...

Accounting
1.2K views

Emperor Company provides renting services. In September 2019, the company receives $2700 in advance payment...

Accounting
1.2K views

Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance Guillermo's Oil and...

Accounting
1.2K views

Determine the specific citation for each of the following items. Please enter only the ASC...

Accounting
1.2K views

Please check the images Analyzing Inventory Disclosure Comparing LIFO and FIFO ming...

Accounting
1.2K views

Crane, Inc. decided to establish a petty cash fund to help ensure internal control over...