04 Jan Finance questions7 It costs Smith Widget Company $
Finance questions7 It costs Smith Widget Company $20 to place an order to its supplier It also costs the company $2 per widget to store the unsold inventory in its warehouse If the company sells 30,000 widgets each year, what quantity should the company purchase when it places an order to its supplier? ________________8 A forecast of sales by Fred Smith Hardware Company for the first 4 months of 2005 are (in thousand dollars): Month 1 2 3 4Cash sales 180 210 180 220Credit sales 240 280 300 340 Expected cash collections: ______ ______ ______ ______On average, 40 percent of credit sales are paid in the current month, 50 percent in the next month, and the remainder in the month after that What are expected cash collections for each month? 9 If the balance sheet of a firm indicates that total assets exceed current liabilities plus shareholder’s equity, then the firm has: (circle one)a no retained earningsb long-term debtc no accumulated depreciationd no long-term debt10 Quickstart Battery Company produces car batteries The company has an inventory conversion period of 75 days, a receivables collection period of 38 days, and a payables deferral period of 30 days Assuming 360 days per year, what is the length of the company’s cash conversion cycle? _____________ days 11 The December 31, 1999, balance sheet of Serena’s Tennis Shop, Inc showed current assets of $900 and current liabilities of $325 The December 31, 2000, balance sheet showed current assets of $925 and current liabilities of $475 What was the company’s change in net working capital? (circle one)a plus $125b minus $125c plus $450d minus $45012 Kaleb’s Karate Supply had a profit margin of 7 percent, sales of $10 million, and total assets of $6 million What was total asset turnover? If management set a goal of increasing total asset turnover to 225 times, what would the new sales figure need to be, assuming no increase in total assets?
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