Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following.Compute the accounts receivable turnover ratios for each company for 2018 and 2019.Compute the number of days’ sales in receivables ratios for each company for 2018 and 2019.Determine which company is the better investment and why. Round answers to two decimal places. LEGUMES PLUSComparative Balance SheetDecember 31, 2017, 2018, and 2019BEAN SUPERSTOREComparative Balance SheetDecember 31, 2017, 2018, and 2019201920182017201920182017AssetsCashAccounts Receivable$345,60067,000$330,46062,000178,011101,202$300,00059,000155,205103,085$407,00085,430128,080182,006$386,45082,67040,03623,400$356,36779,230InventoryEquipment145,830100,46552,142111,701Total Assets$658,895$671,673$617,290$802,516$532,556$599,440LiabilitiesSalaries PayableAccounts PayableNotes Payable$ 84,20969,33158,250$ 88,563$ 95,10062,43063,222$ 91,455$ 90,20070,00041,00071,67050,65086,33167,880$ 89,46787,19768,312EquityCommon StockRetained Earnings$ 19,100$ 22,695435,000$ 20,990439,800$ 25,464556,300$ 22,090264,800$ 22,188332,276386,400Total Liabilities and Equity$658,895$671,673$617,290$802,516$532,556$599,440 LEGUMES PLUSComparative Income StatementYear Ended December 31, 2017, 2018, and 2019BEAN SUPERSTOREComparative Income StatementYear Ended December 31, 2017, 2018, and 2019201920182017201920182017Net Credit Sales$1,000,000$984,400$875,350$1,256,300$1,020,570$967,478Cost of Goods Sold450,000419,600388,950500,000580,320465,780Gross Margin550,000564,800486,400756,300440,250501,698100,000200,000ExpensesNet Income (Loss)115,000125,000175,450169,422435,000439,800386,400556,300264,800332,276

Introduction: Accounts receivable consists of the credit sales balance. Accounts receivable…

Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. Compute the number of days’ sales in receivables ratios for each company for 2018 and 2019. Determine which company is the better investment and why. Round answers to two decimal places.

Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. Compute the number of days’ sales in receivables ratios for each company for 2018 and 2019. Determine which company is the better investment and why. Round answers to two decimal places.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 3.3C

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Accounts Receivable as of December 31, 2020 should amount to: *A. 180,000B. 330,000C. 525,000D. 555,000
Quick BQtio all Yearh As Reported Annual Balance Sheet Report Date Scale 2019 2018 2017 2016 Thousands Thousands Thousands Thousands Assets 9,465,000 6,284,000 7,722,000 Cash & cash equivalents Receivables, net 6,756,000 6,867,000 6,283,000 5,614,000 5,835,000 44,269.000 3,623,000 61,897,000 104,317.000 Inventories 44.435,000 1,622,000 61,806,000 105,208,000 17,424,000 4,417,000 43,783,000 43,046,000 Prepaid expenses & other current assets Total current assets 3,511,000 59,664,000 107,675,000 1,941,000 57,689,000 107.710,000 Property & equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease & financing obligations, net Goodwill Other long-term assets Total assets 7,078,000 31,181,000 14,822,000 219,295,000 7,143,000 18,242,000 31,073,000 16,567,000 236,495,000 6.468,000 17.037,000 9,921,000 198,825,000 11,798,000 204,522,000 Liabilities & Equity Short-term borrowings Accounts payable Accrued liabilities 575,000 46,973,000…
Accounts Payable as of December 31, 2020 should amount to: *A. 531,000B. 600,000C. 627,000D. 1,827,000
Use the below information to answer the following questions:     20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30%    A. Create the Balance Sheets for 2020 & 2021.
Use the below information to answer the following questions:     20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30%    A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
Maples group                                                             Comparative Balance Sheet                                                             December 31, 2020 and 2019 2020 2019 Increase/(Decrease                   Assets     Cash and cash equivalent 64,990 61,895            ?     Accounts receivable 95,100 88,500            ?     Inventories 72,500 79,855            ? Fixed Assets, net     ?     ?            ? Total Assets 442,590 395,800      46,790             Liabilities          Accounts payable 45,000 58,350            ?     Accrued liabilities      ?      ?            ? Long –term notes payable 99,500 128,550            ?     Stockholder’ Equity: Common Stock 143,050 105,110         37,940 Retained earnings 43,540 24,290         19,250 Total liabilities and stockholders’ equity 442, 590 395, 800…
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Good day, how do we calculate the missing amounts when doing a comparative balance sheet? Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/Decrease Assets Cash and cash Equivalent $ 51,500.00 $ 45,400.00 Accounts Receivable Inventories $ 61,400.00 $ 9,500.00 Fixed Assets, net $ 160,000.00 $ 110,000.00 Total Assets $ 324,000.00 $ 268,700.00 $ 55,600.00 Liabilities Accounts Payable Accrued liabilities $ 31,000.00 -$ 6,550.00 Long-term notes payable $ 60,000.00 $ 78,540.00 Stockholders Equity: Common Stock $ 143,050.00 $ 105,110.00 $ 37,940.00 Retained Earnings $ 54,800.00 $ 19,700.00 $ 35,100.00 Total liabilities and Stockholders equity $ 324,300.00 $ 268,700.00 $ 55,600.00
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